How to save money as student on a budget


Saving money as a student may seem impossible, especially for us female folks who  want to splurge and keep up with fashion trends. I know because well.. I might be guilty as well but it actually is possible especially if you have a small business by the side, or even if you don’t, saving is very possible.                                                             Here are 4 major tips I have adopted over the past year which has worked really well for me and might as well be useful to you.


This is one method that I particularly use, in fact this was what I started with when I started saving. Immediately my allowance for the month is sent to me, I transfer a certain percentage into my “savings account”. I use a constant percentage for better adherence and makes my budgeting process easier. I’d totally advise you don’t collect the ATM card for this particular account. If you do,you just might be tempted to spend all  out of it. Also, I’ll advise saving just a reasonable amount you can do away with monthly without having to make yourself inconvenient. It’s called savings for a reason.



Saving money doesn’t have to be direct saving of physical cash. Leaving home with cash instead of your debit card would definitely help avoid impulse shopping. Having a list and sticking strictly to it is a plus. You can equally save money by looking out for discounts on every type of items especially online stores. For fashion items; thrifting which I think deserves a blog post of its own is the major way I save and still get quality stuffs. It’s way easier now that there are a number of online thrift stores especially on Instagram (let me know if you’d like to make a list of thrift stores).

PS: If possible, avoid shopping online has this would encourage you to splurge(tho I doubt if this would be possible but with self control…just maybe)

PPS: black Friday is almost here (usually last Friday in November for most stores). you can be on the look out for stores especially expensive items you’ve been eyeing. I’ll definitely be doing a post on various online stores/websites that will be running the black Friday discounts.

[bctt tweet=”Student on a budget? Here’s are some tips on how to save money without having a side job!” username=”@thetosintoge”]


Very early  this year, I read about the story of a certain woman here that saved an about #400,000 just from having a piggy bank at home. I remember having a piggy bank when I was growing up which as more like a wallet as I would break into the bank open the it when its time to buy sweets/gum but after reading this woman’s story,though not with the aim of saving that much, I bought mine around June this year and intend to open at the end of the year to see how much I can come up with. So far, this has especially helped me save “extra money”. You know those cash gifts you get unexpectedly when you meet a relative or your parent’s friend somewhere and she decided to give you money for ”transport”?. Yes I save every penny because I could do without the money in the first place. Trust me you need a certain level of self-discipline for this one

By the way:The piggy bank is the same “KOLO” most of us know

You can get the piggy bank can be at any local market and costs about #300. The price may vary depending on your location.



I like to try out new food and cuisines, but I don’t do that all the time. Most times, I eat out approximately once a month and when I do, I look for very affordable restaurants. I either read reviews or do a proper research. As a student, I personally think cooking your meals saves you a great deal of money. Well if you’re in a university that allows you to cook,buying food stuff at the beginning of the month and preparing your own meals would save you a great deal of money as it’s way cheaper,though may be time consuming,but way cheaper than eating out.

Saving however doesn’t mean I don’t splurge sometimes; I just make sure I don’t do it too often.

BONUS TIP: Withdraw your money on a weekly basis so that you can stick to your budget.                                           p.s: take transport and buying of lecture notes(if that applies to you) and other miscellaneous expenses into consideration.

Do you save?

What other tip do you use to help you save money? Please leave your thoughts in the comment section so I can learn from you as well.

                    Till soon. Tosin Toge


This Post Has 20 Comments

  1. Opsal

    totally agree with u✔️ @tosintoge.. nice write up

  2. Tony

    Nice topic for the current situation. Students really needs to be educated more on this.

    1. TheTosinToge

      Thanks Gift. I’m guilty of this as well! The theme I’ll check and send you a message dear.

  3. Onyinyechi

    Well I know I must have told you before that you inspire me a lot Tosin…and the day I decided to save was after I had this deep conversation with you..yesss you inspired me to save…i use this means called piggy bank..i set an amount of money to be taken from my account automatically everyday …its s constant reminder that i have less to spend…but I save more!! Y’all should try using Piggybank especially if you have tried saving many times and it didn’t work..just like me!..piggybank is the way…cheers

    1. TheTosinToge

      Awww I’m glad we had that conversation boo. Cheers to saving more and smashing out goals!

  4. Funke Olotu

    I wish I saved more when I was in school, being a graduate without savings is hard.. Life is so hard now.
    I agree with all your points especially number 1,my friend saved a lot from having a separate account

    1. TheTosinToge

      Aww but it’s never too late to start dear. I have a specialty in saving and I want save even more. Thanks for stopping by Funke

  5. Anniedora

    I used to be good at saving until uni…nd UI can drain one’s account ehn. But i opened a savings account w/o a debit card that way i cant withdraw anyhow
    Great tips

  6. Temiloluwa

    I love this post because it really gave me a push. I like saving but I have noticed I end up spending the money quickly…so sad. I just opened a separate bank account few days ago. I am sure I would be needing more tips from you. Thanks for the being God sent! You are loved.


    I always had a problem saving but my ‘ojukokoro’ didn’t let me be. But now, it hasn’t been a problem since I’ve been using but seeing your money and not being able to spend is hard . Nice tips, Tosin. Considering opening another bank account.


    1. TheTosinToge

      Heard of as well. I might just use it now that they have an app. Yea opening another account sure helps a lot.

  8. Atinuke

    Thanks for this, Tosin. I’ve always had the excuse that I barely have enough to get by not to talk of save. But that’s just all it is. An excuse. Going to save my money before I spend it from now on!

    1. TheTosinToge

      Exactly Tinuke. #teamnoexcuses. Thanks for reading babe

  9. Jolaade

    Valid points alryt i do d separate savings, den i withdraw once in a while but enuf to make me not visit d atm soon, i try to avoid impulse buying, dats about it but mahn it’s hard.

Leave a Reply