An NTU Y3 Student’s Tips to Saving and Building a Budget in Uni

Entering university is an exciting time in a student’s life, but it can also be financially challenging. As a student at Nanyang Technological University (NTU), it was hard for me to balance spending and saving during the semester (no thanks to inflation). After months of barely scraping by, I realise it’s essential to develop a solid budgeting plan and adopt smart saving strategies to make the most of your university experience without breaking the bank. In this article, we will explore effective ways to build a successful college budget and save money while studying at university or even just as a student, allowing you to focus on your education and personal growth without financial stress.

1. Assessing Your Income and Expenses:

The first step towards building a successful college budget is to assess your income and expenses. Start by calculating all your income sources, including scholarships, grants, part-time jobs, and parental support. Then, identify your essential expenses, such as tuition fees, accommodation, transportation, and groceries. Additionally, consider discretionary expenses like entertainment, dining out, and personal shopping. Understanding your income and expenses allows you to create a realistic budget that aligns with your financial situation.

For NTU students, do look out for this NTU official telegram channel that sends you messages of free food available throughout the campus! Link:

2. Prioritizing Essential Expenses:

Once you clearly understand your income and expenses, prioritize your essential expenses. As a student, tuition fees and accommodation are likely your most significant financial obligations. Explore options for scholarships, bursaries, and financial aid the school provides to help ease the burden. Additionally, consider shared accommodation or on-campus housing, which can be more cost-effective than living alone or renting off-campus.

3. Managing Discretionary Expenses:

While it’s crucial to prioritize essential expenses, managing discretionary expenses is equally important to maintain a balanced budget. Look for cost-saving opportunities, such as student discounts on textbooks, public transportation, and entertainment venues. Also, ask your seniors for their used textbooks if they are willing to sell or even give them for free! Ensure they are kept in good condition so you can resell them after! A smart way to earn back your money for sure. While this is excruciatingly hard where eating out is so convenient and easy, planning your meals and cooking at home whenever possible could save you quite a bit! By being mindful of your discretionary expenses, you can make smarter choices and save money in the long run.

4. Utilizing Campus Resources:

For myself, NTU offers a wide range of resources and facilities that can help you save money. Take advantage of the university library to borrow textbooks instead of purchasing them. Use on-campus gyms and sports facilities instead of expensive external memberships. Explore student clubs and organizations, which often provide free or discounted events and activities. NUS and NTU also organize career fairs and job placement services, which can help you secure part-time jobs or internships to supplement your income.

In NTU, there is a Work Study Scheme which is a University-approved training programme for NTU students. Its aim is to allow students to learn about work and working life.  Opportunities are provided for students in a wide range of areas such as finance, marketing, administrative and events management, planning and organisation, library management, information system management, statistical analysis, multi-media production, customer service, etc.

5. Embracing a Frugal Lifestyle:

Adopting a frugal lifestyle can significantly improve your financial well-being as an NTU student. Consider buying used textbooks or sharing them with classmates to reduce costs. Take advantage of free or low-cost recreational activities the university offers and explore the vibrant student life on campus. Prepare your meals in bulk and bring packed lunches to save money on dining out. Limit unnecessary spending on impulse purchases and evaluate every expense to ensure it aligns with your priorities.

During my second year, I scheduled my classes so that Thursdays and Fridays are free. I took on data entry jobs that were available through the Work Study Scheme and those that were flexible to accommodate my schedule. I was able to earn a side income of $120 weekly. Of course, the amount varies on the duration, type of work and availability of the jobs.


As a student, building a successful college budget and saving money are essential for a well-rounded university experience. By assessing your income and expenses, prioritizing essential costs, managing discretionary expenses, utilizing campus resources, embracing a frugal lifestyle, and building an emergency fund, you can navigate your university years with financial stability. Remember, financial discipline and wise money management are key to achieving your academic goals while maintaining a healthy financial future. But most importantly, don’t stress too much about your finances and enjoy your University experience!


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