17 Awesome Money Saving Ideas for Hostellers

Posted by Srishti Kesarwani
May 16, 2017

NOTE: This post has been self-published by the author. Anyone can write on Youth Ki Awaaz.

Living with your roommate in the hostel or PG accommodation is always fun. Both of you share not only the wardrobes but also the plans to save more and more money to invest in the other things like holiday trips, weekend dates, and adventures. But with the consistent hike in prices it has become difficult to manage everything in a fixed budget. So, you need to be a bit more careful about using your money more judiciously. Just follow the awesome money saving tricks to enjoy the life to the fullest with your roommate.

1. Close Your Closet- Every winter lets you shop amazing warmers like woolen shrugs, coats, mufflers, stockings and leather boots, but why to allow this heating zone to fill each and every corner of your closet. Just buy the necessities and make the best use of them. Shutting the closet boxes will surely add more money to your wallet.

2. Bulk Purchase- Although it sounds a bit boring, but it is the best way to save your expenses. All you need to do is just know the bulk purchase deals and compare it with the food prices of your locality. Start purchasing the things which you will need in one go and throughout the year.

3. Plan Your Hobbies for Home- The list of hobbies can be planned and carried to the home because it adds an extra load to your pocket. Dancing, singing, painting or yoga, all require a special budget every month. So the best idea is to enjoy all your hobbies at home with your friends. This will save huge expenses without cutting down your hobbies.

4. Hug Natural Light as Your Teddy- Electricity consumption in winters is usually more than expected and after this, getting huge bills will definitely be a shock to you. After this expensive December, we are sure about the fact that every one of you, must be looking forward to cutting down your electricity bills in the next season. Because the time has come to save expenses in the best ways.  All you need to do is switch off the lights during daytime and open the curtains. Let the natural light or Sunshine embrace you and make your room more bright and cheerful than before!

5. Be a Cook- Though it’s difficult to go to kitchen after a long hectic schedule but it will surely make you a perfect cook plus also let you avoid the bad eating habits. We all know that ordering online is always easy but not cheaper than homemade. Plus, it drains your savings away. The best way is to try some instant snacks and foods with your friends and then plan a rocking party or get together with them!

6. Purchase Snacks on Weekend Shopping Trips – Instead of purchasing the snacks daily, you can combine them with the shopping that you usually do on the weekends. Remember the fact that Bulk shopping is always cheaper than individual deals. So save as maximum as you can!

7. Laundry Tricks- Yes, you are getting it right, wash your clothes by yourself with easy laundry techniques. It may sound a bit crazy but when it comes to saving money, it becomes quite essential.

8. Mend Your Furniture- The first question in your mind will be- Is it okay to do it by myself? Yes, it is, as it will also elaborate the creative side of yours! If you think your tables and chairs are damn old, then make them young by painting them. So, go ahead, and add more colors to your room.

9. Planning is Important- Reckless spending can be avoided if you plan everything with your roommate like what things you need for this week or month, where you are planning to shop, and what is the weekend plan, then you are definitely doing well. Try to manage all these things in such a way that it should not add more weight-age to your pocket!

10. Piggy Banking- This is the best way to save money and surprise yourself with a wonderful gift, be it a weekend spa, or nail art. If you have started from January, then crack the piggy bank in the mid of the year and plan this self-pampering things to glamorize yourself a bit more!

11. Be the Owner of Your Own CCD- If you and your roommate are caffeine addicts, then why to grab a new deal every time at coffee centers, just try something new to add more flavor by yourself. Go to the confectionery store, and purchase some flavored coffees and teas. Follow the stepwise instructions, and also watch the videos to make the delicious drink for both of you. With each drink you have experimented, you have added more pennies to your account.

12. Use the Cable wisely- All human beings want to enjoy leisure times on the cozy sofa and watch the favorite TV shows. Just because of this, maybe you are paying extra for some channels which you have never ever watched. You can consider watching your favorite TV shows online at least for once, or you can catch up with your favorite movies on the apps like HULU, HOTSTAR, and NETFLIX etc.

13. Eat Healthier- Though it is a Sunday and your tummy is aching for some tasty food from a good restaurant, but remember this, it can be in the list of your major weekly expenses.

What you need to do is to try cooking something healthy for lunch with your room partner. It has all the benefits of saving you from unhealthy food, and a bonus of saving the expenses.

14. One Hand washes the other- It may sound a bit awkward, but helping each other in their tasks for which they are paying someone else can be a bonus on saving. For example- you are good at patching up the torn clothes and your roommate is a good hairstylist, just exchange your tasks and a few more pennies will be added to your saving account.

15. Go Green- Absolutely perfect idea for the vegetable lovers!! Make your own kitchen garden around the corner of your residence and plant all the herbs of your choice. It is much cheaper and convenient than buying vegetables from the stores. All you need to do is plant your favorite seeds and do water them regularly turn wise.

16. Homemade Gifts- Nothing can be more pleasing than receiving a homemade gift from the loved ones. These gifts are special in their own kind. You can showcase your creativity in making these gifts and thus cut down your expenses in purchasing expensive items.

17. Limit Your Shopping- When you are running short of money and want to save a bit of pennies, then go for this trick… Limit your desires to shop or shop only when it is urgently needed. Purchasing from a retail store can be a good idea instead from a branded showroom.

These are some of the amazing life hacks which will help you save money without cutting down on your luxuries. Follow them and make your life more amazing with your roommate!

Youth Ki Awaaz is an open platform where anybody can publish. This post does not necessarily represent the platform's views and opinions.