5 Great ways for students to save money

I have to say I am one of the worst people in the world when it comes to this, but the best way to save money is not to spend it! And making do with what you already have is the best way to not spend.

Many of us will buy an iPod or a new phone every year, but is it really necessary? Yeah your phone may not have a 20 megapixel camera, or the ability to make you a bacon sarnie, but it is still useful for the thing it was made for: making calls, and sending texts.

Many people end up spending more money than they ever needed too, either through buying the wrong product or simply the right product in the wrong place.

The internet has lead to a great amount of competition in the technology market, and by looking around you can often save a great deal of money. Websites such as Google Shopping, Kelkoo and Pricerunner all specialise in searching the internet to find you the cheapest price for any given product.

Sites such as Overclockers, Amazon, and Scan will often have ‘Today Only’ or ‘For a limited time!’ offers. These can help shave up to £100 or so off of the purchase of a laptop, etc.

Every year the latest and greatest product storms onto the shelves of local shops, proclaiming to be the device to end all of your worries. This device brings brilliant advantages to you, as long as you don’t buy it.

Seems a bit odd, eh? But let me explain…. As soon as the latest product in a range is released, the last generation of that product will plummet in price. This can be seen very easily in the video game console market. Before the Playstation 3 was released, the PS2 retailed at over £100, but now you can buy one for £40-£50. You may think that this leaves you behind, but the PS2 had some of the best games we have seen for years.

Prices on shelves are not set in stone. They’re in fact often designed to have a little leeway built in. Any member of staff in a store just wants to close a sale, he is not paid on how much he makes, but more on how many sales he finalises.

The best way to haggle is looking at getting extras added to the product you are buying. Whilst this may seem like you are not saving money, you are getting more for the same amount of money, meaning you don’t have to spend more money on buying those extras. But if you do try and haggle a deal, make sure it is worth it and that it is something you need or will use.

The Technology industry moves so quickly, that almost new items are sold on ebay or in the classifieds of newspapers and magazines before they are taken home.

Whilst it may seem “cheap” buying second hand goods, they are better value for money. And we are trying to be cheap here… (You can buy that £3,000 Gaming Computer when you are more financially secure).

Second hand products are often in good condition, and can be readily found on eBay car boot sales, and magazine such as Micro Mart.