Financial tips for students

Ways to survive this cost-of-living crisis.

Earlier this year, everywhere I went it seemed like I was hearing more and more about this “recession” and “inflation”. It had become a conversation starter or, at least, it will wedge itself into the conversation sooner or later. No one was interested in the weather anymore; everyone was interested in the price of eggs.

But it didn’t really hit me until I walked to Sushi Hub one day after class to find that its $3.80 rolls are now $4. That increment of 20 cents is significant for a student like me. 

After that I just couldn’t help but notice inflation at every turn. It’s been challenging but there are things that I’ve taken advantage of to help myself stay afloat in this cost-of-living crisis. 

Student discounts

One of the more exciting things about being a student – besides satisfying one’s thirst for knowledge, of course – are the discounts. 

You can get them through apps like Student Edge and UNiDAYS which offer discounts on a wide range of stores like Chatime (very crucial for a boba fiend like me), Dominos, Sephora, The Iconic, DiDi, etc. I find that UNiDAYS have bigger and more familiar names, but you can apply for both anyway, so make the most out of it while you can! 

You can also try your luck by asking stores if they offer student discounts before making your purchase. Sometimes they do but it’s just not advertised very well. When shopping online, special offers and discount codes are often linked at the bottom of the page or somewhere in the menu. 

And if you’re thinking about joining some of the university’s clubs and associations, inquire into their membership perks. I’m aware that some of them offer student discounts when you purchase their membership cards like when I was a member of the Malaysian Students Association (AUMSA), they offered some really good member benefits, especially on Malaysian-owned businesses. I recall the AULSS and similarly, YouX, have their own sets of perks too.

Finally, many cultural experiences like the theatre, musical performances, and art exhibitions offer concession and Under 30s prices, making it more accessible to people like you and me!

So, make sure you keep your eyes peeled for these special discounts because you’ll only be able to indulge in them while you’re a student. It’s compensation for all the times spent crying and panicking over assignments and exams.

Central Market hack 

Did you know that about an hour or two before the market closes on Saturday, the producers slap on crazy discounts over their produce? (For reference, they close at 3pm, so prices start to drop around 1pm-2pm). I believe it’s because the market won’t be trading again until Tuesday, so to avoid wasting their produce, they sell it off at a much cheaper price. 

But be prepared to push and shove your way through the market – and be pushed and shoved by others – because heaps of other people will want to take advantage of this price drop too. I’ve been in those trenches a couple of times and it takes getting used to but hey, anything for $0.70 avocados, right? 

Turn points into products

Groceries are a necessity and no matter how expensive things have gotten we will have to keep getting them, but that shouldn’t be the end of it. Major grocers like Coles and Woolies, even Foodland, have loyalty programs that reward you for shopping with them. Perhaps the phrase, “If you have a Flybuys card, please scan at any time” might ring a bell?

The way it works, basically, is that you get a point for every dollar you spend and once you’ve accumulated enough points, you can convert them into credits to pay for your groceries. Oh, and the program is not limited to grocers by the way. With Flybuys, for example, you can collect points from Kmart, Target, Officeworks, and more. 

Do you know of any money saving tips?