Student life is often synonymous with a tight budget. Between tuition fees, rent, shopping and leisure activities, it can be difficult to make ends meet. Fortunately, there are a number of ways to reduce these expenses.
My list isn’t exhaustive, but together we’ll explore the main expenses for students, their sources of income, and above all, how to save money thanks to cashback and other tips that I used a few years ago, and that I continue to use today 😉
The main costs of being a student
Being a student is often a mixture of excitement and sometimes fear, with greater freedom but the responsibilities that go with it.
Being a student involves a lot of expenses, and if you’re here you’ll probably know what I mean! Here’s an overview of the main ones:
- Tuition fees and teaching materials
- Tuition fees, books, supplies and sometimes even specific equipment can represent a significant part of the student budget.
- Housing
- Whether in a hall of residence, shared apartment or studio, housing is often a student’s biggest monthly expense. Added to this are utilities such as electricity, water, heating and Internet.
- Alimentation
- Eating a balanced diet on a budget can be a real challenge. Food shopping and eating out account for a significant proportion of expenses.
- Transports
- Transportation costs vary depending on where you live and how far you are from your school. They include public transport passes, gas for those with a car, and sometimes even train or plane tickets home.
- Leisure and social life
- Outings, cultural and sporting activities, and subscriptions (cinema, streaming music, etc.) are essential to maintaining a good life balance, but they can quickly add up.
- 👉 Find out how to pay less for subscriptions: phone, streaming, music.
- Health and insurance
- Medical expenses not covered by social security or a student health insurance plan can also weigh on the budget, not forgetting home and civil liability insurance.
The main sources of income as a student
There are several possible sources of income to finance these expenses:
- Grants and scholarships
- Many students benefit from grants based on social or academic criteria. Housing subsidies (APL, ALS) can also reduce the amount of rent you have to pay.
- Jobs students
- Part-time jobs, paid internships, freelance work and occasional assignments are all good ways to earn money while pursuing your studies. These jobs are often found in the restaurant or retail sectors, or via specialized platforms.
- Family support
- For some students, financial support from parents is essential to meet day-to-day needs.
- Student loans
- Some opt for a student loan, usually at a favorable rate, to cover tuition fees and other important expenses.
- Passive income
- Income generated by investments in the stock market, for example, can provide a little extra income during the student years, but it will be much more in a few years’ time thanks to compound interest if you start investing at an early age.
For my part, I opted for the sandwich course because of the many advantages it offers.
Learning to manage your budget, however small it may be
Good management of your budget, even when it’s small, is crucial if you want to start saving and prepare for your working life. Here are my 5 basic tips:
- Draw up a monthly budget
- List all your sources of income and monthly expenses so you can clearly see where your money is going.
- Prioritise expenditure
- Identify your essential expenses (housing, food, transportation) and differentiate them from secondary expenses (leisure, outings) to better manage your financial priorities.
- Avoiding unnecessary debt
- Limit your use of credit and bank overdrafts, which generally lead to additional costs that weigh down your budget.
- Save regularly
- Set aside small sums each month, which will make the difference in case of urgent need or for future projects.
- Search for discounts and special offers
- Students often have access to special discounts in many sectors. Check before you buy whether a student offer is available.
To find out more about managing your budget, take a look at my guide to managing your budget effectively and starting to invest.
Save money with cashback
Understanding cashback
Cashback is a system of partial reimbursement of your purchases. In practical terms, when you make an online or in-store purchase via a cashback application or website, part of the amount spent is paid back to you. It’s a simple and effective way of reducing your running costs.
The best cashback applications for students
First place goes without hesitation to Widilo, by far the best cashback solution in France.
- Les taux de cashback les plus élevés !
- +2500 enseignes partenaires dont des exclusives
- Un système de récompenses complet
free
Benefits of Widilo for students:
- a welcome bonus for new users and an attractive referral programme.
- a large number of partner brands: Sephora, ASOS, Nike, Darty…
- high cashback rates.
- an application to make it easier to use on your mobile and remember to activate your cashback.
Other solutions exist, however, such as Igraal, Poulpeo and EbuyClub:
Benefits for students
Igraal has special offers that make this application particularly attractive, especially for students, but not only 😉 :
- Welcome bonus: By signing up via my referral link, you can benefit from a welcome bonus boosted to €5.
- Exclusive promo codes: Igraal regularly negotiates exclusive promo codes with its partners, allowing you to obtain additional discounts on purchases.
- Refer a friend programmes: You can invite your friends to join Igraal and earn commission on their cashback earnings.
Here are my Igraal earnings over a year of use. Of course, you don’t want it to encourage you to consume, but I personally made huge savings thanks to cashback when I booked a trip!
Pay less for subscriptions with Gamsgo
After this cashback interlude, here’s another great plan to make some very attractive savings on everyday subscriptions.
Gamsgo is a platform that gives you access to the biggest subscription services at very attractive rates, well below the basic cost. This is made possible by subscription sharing.
Gamsgo offers a small range of classics: Netflix, Spotify, Disney+, YouTube Premium, NBA, Paramount+, etc.
- Cheapest subscriptions on the market
- Over 50 platforms offered including Netflix, Spotify, Adobe, Canva, Disney+, YouTube Premium, etc.
- Immediate access to accounts after purchase
- 24/7 customer service
free
For students, it’s an excellent way to take advantage of these services without breaking the bank, and to make even greater savings over several years.
There’s also Premium access to useful study software such as Adobe, Duolingo, Canva and even Strava for sports fans!
You can even access several AIs and pay less for premium packages: ChatGPT, DeepSeek or Midjourney!
Use sponsorship offers
My final tip: sponsorship offers are a good way of earning extra money or discounts:
- Use referral links when subscribing to online services. On this page you’ll find all my referral links and my opinions on different ways to invest or save.
- Invite your friends to join a platform that you use to earn commission and rewards.
In conclusion, managing your student budget is a challenge, given the many costs involved and the relatively low income, but it’s a formative experience for the rest of your life! With the right strategies and a few tricks up your sleeve, you can make significant savings.
Cashback, shared subscriptions and sponsorship offers are all effective ways of lightening the load and enjoying student life without breaking the bank.
