“How to live frugally as a student?”- Are you a student and thinking about frugal living? Well, if you are thinking to be frugal as a student, that’s really a good initiative. It’s the right time to think about frugality and saving money.

Most of the students don’t think about frugality and saving money at this early age. But feel proud that you are sensible enough to take good steps in your life. Even I started to adapt frugality in my life as a student during my childhood. So, I can say that living frugally one of the best initiatives in student life. 

Now I’m in my early 20s and still practising frugality in my life. Frugal living is like an endless, life-long journey. I can’t say that I’m perfect frugal being because it’s a life long journey. Day-by-day I’m implementing many practical ways and becoming more frugal.

How to live frugally as a student?

Usually, when kids reach the age 3-4, their student life begins. But according to some stats and data students start to spend more money at the age of 13, when they reach teenage. And even high school students and 20s students spend more money while exploring life.

Just a few years ago I was also a student so I can understand how student life looks like. We meet so many new friends and experience so many new things for the first time. We all have heard the line ‘student life is the golden life’. In student life, we want to explore everything, like learning new things, fun, party, friends and much more. But while exploring so many things sometimes we perform by going out of the track. So it’s the time to check where we are heading in our life.

Do you really want to know how to live frugally as a student? Well, many of you may think frugal living is a very boring life. But it’s not true. Frugal living is actually an art of living, every student should start to explore this art. Some people say that frugal living is boring and difficult because they may not understand the real concept of frugality.

How to Live Frugally as a Student?

How to live frugally as a student? – Beginner’s Guide

Whether it may be female students or male students, every teenage students start to make a hole to their pocket. But there is a little change in buying behaviour of male and female students. Male students spend more money on gadgets, shoes and eating outside food. As male students spend more money on eating outside food, you must know how to save money on food.

Female students spend more money on cosmetics, clothes, chocolates etc. Female students start to go shopping more in their teenage. If you are a teenage student learn to live frugally as a teenage girl. There are so many factors which influence the spending habit of the students. But I feel one should start to live frugally as a student. Frugal living helps to get you the life which you desire. Take simple steps to adapt frugality in your life. Frugal living does not mean that you should compromise everything in your student life.

Before thinking about how to live frugally as a student, you should know the real meaning of frugality. Frugal living means living your life wisely and happily without spending more money. To be frugal you don’t need no to be cheap or miser. You just need to analyse your cash flow and have a little control over it, that’s it.

8 simple and easy ways for students to adapt frugality in life

Well, frugal living should not look like a burden for students. I can understand that already you have a stress of studies and career stress.  As I was also a student just a few years ago, I would like to share my experience about how I’ve adapted frugality in my student life. These are all very simple and easy ways which will help you to follow frugal living in your life.

Let me elaborate on some aspects which one should consider while thinking about frugality-

1. Start to observe your cash flow as a student
2. As a student realise the importance of frugal living
3. Handle peer pressure which makes you spend more money
4. Don’t get distracted by the trend where you end up spending more
5. Start to read good books in your student life
6. Take steps to be financially independent as a student
7. Invest your money to build your skills
8. As a student realise that health is wealth


1. Start to observe your cash flow as a student

Observing your cash flow is the basic step which you should take if you are thinking about frugal living. Analyse where you are spending more money. And try to cut down your cost. Keep a track of your daily spendings. Then start to reduce your spendings. For this, you should plan your simple budget. Now don’t think of getting started with a big book and pen! don’t start to write long sentences to create your budget.  In 5 minutes you create your weekly budget. Keep it very simple.

How to create a budget as a student?

Just note down the things which may occur to you the next 7 days. For example – weekend plans with your friends like movie, outside food, travel etc. Then analyse how much money you can save here and how much money you should spend. And whenever you get pocket money from your parents, don’t spend it immediately. No matter how much money you get as a pocket money learn to create a budget of it.

2. As a student realise the importance of frugal living

Frugal living is the lifestyle which will help you to be a better person. As a student, you must try to realise the importance of frugal living. Until you analyse how frugal living can change your life, you may not adapt frugality effectively in your life. So I advise you to observe different people. Observe those who are spending more money and also observe those people who are adapting frugal living.

This will help you to change your mindset. You will start to analyse how frugal living will help you to get a desired life in the very near future.

3. Handle peer pressure which makes you spend more money

Every student must learn to handle peer pressure. Even I’ve faced peer pressure in my life. But my life experience and the realisation of the importance of frugal living helped me to overcome such peer pressure. I can understand that when your friends are using any type of costly products like gadgets, branded clothes then you also want to have such costly items.

But you know what, all this is a temporary pleasure. In the long run, costly gadgets or branded clothes won’t help you to set your career or to get the life you desired. But if you start to live frugally then you can save more money and you can fulfil all your dreams in a very near future.

So think practically, instead of buying costly products due to peer pressure you can use that money to improve your skills like computer skill, speaking English which is global language. Nowadays you can just sit at your home and excel in English. There is an online platform where you can actually speak with others who are expert in English. You can take the trail of 15 minutes free session to practice English speaking. All this will help in your professional life.

4. Don’t get distracted by the trend where you end up spending more

As I was also a student once, I can relate to your situations. In the student life, we all face many distractions. I’ve seen my friends who could get distracted easily by new trends and fashion. And this distraction forces students to spend more money. I’m not aginst enjoyment. But imagine, every the trend changes, whether it may be a clothing trend or much more. But if every time you spend on these things then you are heading in the wrong direction. So try to stay away from such distractions.

There are also other type of trends like ‘tuition’. Yes, everyone is joining tuition and spending money on extra class. So I advice don’t follow this type of trend. Don’t join a tuition class just because your friends are doing that.

5. Start to read good books in your student life

To be honest, during my teenage student life I was not reading only my textbooks. But later I understood the importance of reading other good books. Now I really enjoy reading non-fiction books especially finance-related books. 

The first finance-related book in my life which I’ve read in my life was “Rich Dad Poor Dad. This helped me a lot. Because of this book, my money-related knowledge has improved. I’ve read this book in my 20s, but this book is really useful for all the age group. Everyone can easily read and understand the concept of savings through this book. So I suggest that students must read other books also instead of reading only texts books. Money related books and self-help books always improve your wisdom.

6. Take steps to be financially independent as a student

Do you know, very young students are running their own businesses and earning well in their life. Well, if I tell you to start your own business then that may be an extreme step for you. But even if you are a student, then also try to be financially independent. 

There are many options for students to earn money. Such as passive income streams, internships, part-time jobs etc. So figure out which will work out for you as a student. Take simple steps to be financially independent. When you start to earn money, you will realise the importance of money. This will help you to live your life frugally.

7. Invest your money to build your skills

Utilise your student life fully. Focus on learning so that in future you can earn well. Learn different types of skills which will help you in future for your professional life. And the most important this is while learning don’t focus on earning. Many students just focus on earning, and they never excel in any skill. 

So, in your student life save your pocket money and invest it in learning new skills. This is what every student must learn, where to spend money and where to cut down. So, acquire and practice your skill so that in future you can make money based on your skills.

8. As a student realise that health is wealth

I feel that students must take care of health. This is the greatest wealth. If you spend more money on junk food today this will affect your health. Then in future, you may face health issues where you will end up spending a lot more money on medications and treatment. So think practically and take simple steps which will help you to be frugal.

How to live frugally as a female student?

Females students spending habits may be a little different from male students. But even female students spend more money on some particular things like clothes, makeup, jewellery, chocolates etc. Female students face a lot of peer pressure in their female world.

But with a little care, you can have control over your spending habits. You can check my other blog post how to live frugally as a female student. Here you can exactly understand the depth of frugality.

How to live frugally as a male student?

Male students have their own world. They like spending money on shoes, sports tools, gym, gadgets etc. And many male students even spend money on addictions like smoking, alcohol and other similar addictions. All this is not good for your health as well as for your pocket. 

Males students should be careful while exploring your life. This is the phase where you may run out of the track and start to live above your means. So you must know how to live frugally as a male student. 

At this early age, if you are thinking about how to live frugally as a student then you’ve already taken the first step towards frugality. Now it’s the right time to take a few more good steps in your life to walk towards frugality. Be a happy frugal student.

Hi. I’m Ankita. I’m here to help you adapt to frugality happily 🙂 I love learning new things. Nowadays I’m learning more about saving money and frugality. So on Frugal Beat together we will learn to create financial magic.

Now it’s time to walk towards financial freedom together. Reach out to me on Quora and Pinterest. Read my featured posts on YourStory, Women’s Web and Youth Ki Awaaz🙂