Student life isn't a time of financial abundance. Students need to be savvy consumers because money is usually tight and mainly goes toward basic needs like food and tuition. During their studies, most students don't have time to work full-time and many parents can't support them financially. So it's important for many students to save as much money as possible in every situation. In this article, we'll give you some useful tips.

1. Budget-Friendly Lifestyle

The best option would be to stay in a university dorm. Another affordable option would be to rent a shared apartment, where you can also meet new people. Instead of spending money alone, you can share some expenses with your roommates. Kitchen appliances and items like shampoo and toilet paper are used by everyone in the end. However, this concept often only works with honest and coordinated people. The last alternative would be to rent your own apartment. Staying as close to the university as possible is convenient and saves you a lot of time. But what if your parents can't support you financially and your own money isn't enough? Apartments are expensive, especially in big cities. Those outside of big cities are often cheaper than those in the center, but in that case, you'll have a long commute to get to the university.

2. Favorable Rates, Deferred Payment, and Student Subscriptions

Another cost-saving measure is to look for student discounts. Student offers are much cheaper than regular offers. For example, almost all mobile phone providers have special deals that require a student certificate or age-based offers. The certificate may need to be submitted each new semester to prove your student status.

Even for tablet and landline rates, you can benefit as a student and save money. If you want to read certain magazines and subscribe to them, you should specify that you're a student. Subscription prices are often cheaper for students.

Every student receives a free student ID card (often with a photo) at the beginning of their studies. This allows you to buy cheaper tickets to enter leisure activity venues like swimming pools or museums. Of course, some swimming pools don't offer discounts, but that's not the general rule.

In the food and dining area, there are often "student menus" that cost less. To take advantage of these, you need to show your student ID. And don't forget to bring your card when you use your semester ticket for buses and trains.

As a student, you may sometimes run into problems you can't handle. For example, when you have to move into your own apartment, it needs to be furnished and few students are lucky enough to find a furnished apartment that suits their needs. You might also need new technology, like a laptop needed for lectures and seminars. All of this is more expensive than your financial situation would allow.

In such cases, you can consider deferred payment. If you can make monthly installments, take advantage of the financing offer and go ahead with expensive but necessary purchases. Deferred payment will help you avoid financial trouble caused by spending too much money in a short time. But watch out: the monthly installments are also significant. You should only accept deferred payment if you're sure it won't cause you any problems and if the item you're buying is absolutely necessary or at least very important.

3. Comparison

Whether you're planning a bigger purchase, want to sign a new contract, travel, or move, you should compare prices in advance. If you can't find student discounts, ask for them. Finally, look for the cheapest and most suitable offer. Doing thorough research will be worthwhile because the loudest ads aren't necessarily the best.

4. Student Mobile Phone Rates

Prepaid, flat rate, or mobile contract with a free phone — it's hard to get an overview of the different mobile contracts, or to know which rate suits you and whether the best choice for you is the student rate. If you make a lot of phone calls and send a lot of texts, it's better to choose a flat-rate mobile rate. You pay a fixed price and can call and/or send as many SMS as you want! Fortunately, the costs are affordable because there are student rates for mobile plans. Do you often like to surf the internet on your smartphone and check your emails, or just make calls? Then you should get a mobile internet plan. Depending on your internet browsing habits, you can get 300 MB per month or you might need 1 GB if you're a regular surfer. Flat-rate plans are too expensive for you and you prefer to only pay for what you actually use? Then you should choose prepaid rates, but note that they're generally not offered as a special student rate. But that's not so bad because the cost per SMS or per call is very reasonable for students anyway!

5. Internet

As a student, it's hard to imagine life without the internet. The internet has become essential not only for communicating with friends and acquaintances but also for researching articles and doing homework during your studies. Whether at home on a PC, on the road with a laptop, or on a mobile phone: nobody wants to pay very high prices for internet access. Fortunately, there are student internet rates! DSL providers like Vodafone, O2, and T-Mobile include a combined plan with DSL for internet and a landline for phone. When you live outside of big cities and in rural areas, it's often not possible to get a good DSL connection. In that case, LTE provides you with internet service at DSL speed without a DSL connection!

6. Coupons — Take Advantage of Discounts

You surely know the principle behind coupons: in a store, after submitting a coupon, the customer gets a discount on certain products. Sometimes, instead of a discount, the coupon serves as a rebate. Popular coupons, big or small, exist in different forms, for example: as a rebate when making a purchase, partially printed directly on the receipt, in daily newspapers or magazines, online for printing or virtual exchange. Coupons are part of the little tools that can help you save money when shopping. Coupons give you a specific percentage or dollar amount as a discount. For online shopping, all you have to do is enter the promo code and your discount is guaranteed.

7. Broadcast Fee Exemption

Studying without internet or TV? That's unimaginable for most people. Until 2013, accessing media was almost an expensive pleasure. Back then, the contribution service of ARD, ZDF, and Deutschlandradio (formerly "fee collection center" / GEZ) required all households to pay, unless they met one of the exemption conditions. Every adult with a registered address had to pay. Nevertheless, some people can be exempted from the broadcast fee. Besides deaf and blind people, those eligible for this benefit are: ALG 1, ALG 2 (Hartz IV), and BAföG. Of course, to be exempted from the broadcast fee, you need to apply and provide proof. You must send a certified copy of your BAföG certificate to the contribution service within two months of it being assigned. If you submit it later, the exemption will only take effect later. Since the exemption only applies for the period of your BAföG payment approval, you also need to renew the application multiple times. Disabled people only pay 5.99 euros per month — provided that "RF" is indicated on their severely disabled person's card. Since roommates in a shared apartment are registered at the same address, they can choose one contributor and split the fee between them. However, if a roommate moves out and someone replaces them, they must inform the contribution service. The same applies if the main contributor can be exempted using their BAföG decision. In other words, as long as there's only one adult without an exemption reason, the contribution service will contact them.

8. Budget Travel

Whether by car, train, or plane, travel costs money. But you can always save on travel or transportation costs by looking for student discounts. With the MyBahnCard for students, it's possible to find cheaper flights, special youth rates for car and van rentals, and even cruises at reduced rates. Tip: there are travel agencies that offer student travel packages ("group trips"), as well as travel agencies that offer individual trips (working holidays), business trips, volunteer work abroad, ranch work, or even internships abroad.

If you're a student or intern and want to go home for a weekend, the train is often the fastest and most convenient means of transport. You can save money by using a BahnCard 25 or BahnCard 50, as well as the MyBahnCard for young people. With the liberalization of bus transport in 2013, it's now possible to travel by coach across Germany. Bus travel time will be longer than by train and plane, but the low price is a major advantage. Here are some long-distance bus providers that can be affordable choices for you as a student in Germany or abroad:

Flixbus: With over 100,000 daily connections to 20 different countries, Flixbus is one of the largest long-distance bus providers. There are no special student offers, but their preferential rates and group rates for 3 or more people can certainly be good deals. Eurolines: Students can save up to 20% on various Eurolines international bus routes. The only requirement is to present a valid student card or ISIC card. Eurolines also offers national long-distance bus routes in addition to international ones (e.g., from Germany to European capitals like Paris, Rome, or London). You can find more information about other long-distance bus travel providers that offer low-price travel from city to city, reduced rates, and many savings deals, etc. here.

Due to strong competition among low-cost airlines like Ryanair, EasyJet, or Eurowings, everyone can find cheap flights on short-haul routes. There are no extra discounts for students and young people on European airlines. For long distances, it's a bit different. Some airlines offer special youth rates, so you can really save money compared to regular fares. What many people don't know is that these airlines also offer flexible return flights, called "Flex Open Return Tickets," with which you can book your return flight for free.

9. Saving Money on Food

Besides discount grocery stores, students can also visit supermarkets, even if they're more expensive. Cheap food can be a good choice if it's offered at a good price without being bad quality. You can buy items like sugar, flour, and even spices at the discounter because they're the same everywhere. These products are almost identical to the more expensive ones offered in supermarkets. If you save this way, you'll have more money for the high-quality, healthy, and tasty little treats you can find in supermarkets. By finding a good balance between shopping at discounters and shopping at supermarkets, you can save money in the long run and won't have to buy everything at a low price — unless you find that some food from discount markets actually tastes even better.

10. Buying Second-Hand Items

Of course, second-hand goods aren't for everyone. Many people don't like the idea that someone they don't even know has worn their clothes before them. However, second-hand items aren't always a bad choice and can sometimes be a good alternative, especially for students. For example, senior students sell their books, which they no longer need but which you do. An ideal place for this exchange would be your university's bulletin board. You can also find used but good condition items on Amazon or eBay by doing a simple search to see if there are reasonable offers. If your course requires a lot of technology, like an expensive digital camera, a laptop, or other valuable items, you can try buying them used. Of course, this isn't always recommended for computers; the model needs to be modern enough to meet university requirements. On the other hand, other technology isn't so bad if it's a bit older, as long as it works well. Of course, you can also buy used equipment for your hobbies to save a lot of money — second-hand goods can be useful in many ways. Additionally, there may be Facebook groups from your university or city where you can find second-hand furniture, books, etc. The flea market, called Flohmarkt in German, is another place to visit. Keep an eye on market hours so you can go treasure hunting! That's all the tips we have for saving money effectively in Germany. What do you think of this article? We hope you found it useful. Try following these tips and let us know your feedback!