Learning how to save money as a student in Nepal is a frustrating journey.
If you’re a normal student in Nepal, you’re probably broke AF and wondering how the heck you’re gonna make it through college without going bankrupt.
Especially since that money just seems to keep flying off of your hands.
Well, fear not my friend, because, in this blog, I’m gonna share some cool tips and tricks on how to save money like a pro.
Trust me, I know the struggle of balancing college fees, rent, and social life without breaking the bank. But with a little bit of creativity and some smart strategies, you can stretch that rupee and still live your best life.
While there are ways to earn money as a student in Nepal, it is only half the story.
You are worth what you keep, not what you make.
What It Takes to Save Money as a Student in Nepal
Saving money as a student requires discipline, planning, and creativity.
It’s easy to get carried away with spending, especially if you’re living away from home for the first time.
However, with a little bit of effort, you can develop good financial habits that will serve you well in the future.
Make a budget by listing all your sources of income and expenses, and then create a plan to balance them.
Once you have a budget, cut unnecessary expenses and try to use student discounts whenever possible.
Practical Ways How to Save Money as a Student in Nepal
Buy second-hand textbooks
Textbooks are incredibly expensive.
However, there’s a simple solution to help you save money as a student in Nepal: buying used textbooks instead of new ones.
When you buy a used textbook, you can often find it at a significantly lower price than its new counterpart.
Almost all major cities in Nepal have places that sell second-hand books.
Furthermore, borrowing textbooks from seniors is another great way to save some extra bucks.
In fact, if you’re tactful enough, you can get their books for free, or probably a plate of momos as a thank-you gift.
Additionally, buying used textbooks reduces your environmental impact by giving a second life to a book that would otherwise go to waste.
It’s a win-win for all!
Don’t overspend on fashion
The price of jeans and jackets in Nepal makes me want to sit down and stitch an outfit myself.
One area where many students are forced to overspend is clothing.
While it’s certainly tempting to keep up with the latest fashion trends and invest in a new wardrobe each season, this quickly adds up and leaves you with little money left over for other important expenses.
Instead, invest in versatile, timeless pieces that can be mixed and matched to create a variety of outfits.
Also, let me tell you this: classy doesn’t always mean expensive. You don’t have to buy overpriced shit from Durbarmarg or New Road.
Whether you are a young guy or a gal, you can design a great wardrobe for a small budget.
You can also save money by shopping secondhand, either through thrift stores or online marketplaces. You will find many such pages on Instagram.
I know it may feel awkward to approach thrift stores if it’s your first time. But there’s no shame in saving the extra rupee. In return, you help recycle resources and minimize waste.
Most importantly, resist the urge to constantly shop and instead focus on what you already have in your closet.
How to save money as a student in Nepal? Limit eating out
Every time I’ve gone out to eat with my friends, I’ve always spent more than I expected.
We order more than needed, there will be drinks if it’s a special occasion, and some friend always forgets to bring their purse.
(If you’re reading this, Mr. Forgetful, you still have Rs. 876.66 to pay me back.)
Eating out quickly adds up and has a significant impact on your finance. If you want to save money as a student, limit your eating out.
Plan ahead and pack your own meals and snacks. By bringing a lunch from home, you avoid the high costs of eating out while also ensuring that you’re eating healthy, nourishing food.
Also, save money and time by buying groceries in bulk and preparing meals ahead of time.
Save on technology
For a student, gadgets are both a necessity and a temptation.
If you are a student, you most likely need a laptop and a phone.
However, it’s also easy to overspend on gadgets and other unnecessary items.
If you want to save money as a student, stop buying useless shit.
It is that simple.
You can often find high-quality second-hand laptops or smartphones at a fraction of the cost of new devices.
I know it won’t be glamorous like using a new one, but didn’t you say you wanted to save money any way you can?
While it is tempting to purchase the latest Apple watch or boat headphones, many of these items are not essential and quickly add up in cost.
Instead, focus on investing in items that will truly support your academic success, such as a reliable laptop.
Build a habit of saving
If you want to save money, you will have to actually build a habit around it.
Remember, wanting to do something is the first step.
You will then have to actively work towards it.
If you are struggling to hold that money in your pocket, you can buy a piggy bank (Link to Daraz Nepal) and start depositing your money there.
I know we have online banking and all, but getting a piggy bank will create a more “real” scenario to save your petty cash.
This is a habit to be learned even for adults, and saving can actually become worthwhile with time.
Spread expenses with roommates
Many students in major cities of Nepal, such as Kathmandu and Pokhara, live in third-party hostels due to the convenience they offer.
I myself have lived in such hostels before, but I found that living in a rented flat with roommates gave me more freedom of choice while still reducing costs.
Let me be clear: even after eating more chicken dinners and items we like, the average cost per person was still less than the monthly hostel fee.
By sharing the costs of rent, utilities, and other household expenses, you significantly reduce your individual expenses and make your budget go further.
For example, if you split the cost of a 2-bedroom apartment with a roommate, you may only have to pay half of the rent and utilities, which can be significant cost savings.
Another way we saved money as a student is by sharing the cost of groceries and household items with roommates. This included everything from buying food in bulk to sharing cleaning supplies and other essentials.
Living with roommates offers other benefits beyond just cost savings. For example, it provides a sense of community and support, which is especially valuable for students who are new to a city or away from home.
You can also learn important life skills, such as how to communicate effectively and resolve conflicts, which can serve you well both in your academic and professional life.
Find ways to make money as a student
Saving money alone may not be enough to achieve your financial goals as a student.
While cutting expenses and saving pocket money is a great way to start, finding a source of income will allow you to save more.
If you have a passion for writing, you can start your own blog and monetize it through advertising, sponsored posts, or affiliate marketing.
Affiliate marketing has numerous benefits. It involves promoting products or services on behalf of a company and earning a commission for any sales made through your unique referral link.
Affiliate marketing in Nepal can be done through your blog, social media accounts, or even by word of mouth.
Furthermore, while you shouldn’t expect to get rich quickly, investing in Nepal’s share market will grow your wealth over time.
As a student, I know that you have limited funds to invest, but even small amounts can add up over time.
However, remember that finding ways to make money as a student should not interfere with your academic responsibilities.
Balance your work and study commitments to avoid burnout and ensure you actually graduate.
They place a big importance on having a degree in Nepal.
Use public transportation
As a student in Nepal, one of the best ways to save money is by using public transportation.
In major cities, public transportation is readily available and is an affordable option for getting around.
I did not have a two-wheeler until I passed class 12.
Till then, I traveled to and from school in public buses.
While public transportation in Nepal is cheap in itself, it also provides student discounts.
On the same note, I suggest you don’t use ride-hailing services like Pathao or Tootle unless you absolutely have to.
They are still a lot more expensive than public vehicles. Although convenient, they will empty a student’s pocket in no time.
Find free entertainment
We live in an age where human connection has been commercialized.
Don’t know what I mean? Keep reading.
When you and your friends plan to meet these days, where do you go?
A cafe or a restaurant. Which takes money.
Any activity you want to do together takes money.
You need money to play futsal, go swimming, or watch a movie.
But there certainly are ways to have fun without paying for it.
You can meet at places that isn’t a cafe or a restaurant. You can have a hike to a nearby destination that won’t cost much to plan.
A guitar jamming session or a sleepover at your friend’s house is also equally fun options.
Cut down on expensive habits
Honestly, many young people in Nepal smoke at one time or another.
Some do it because it’s cool, due to peer pressure, or simply to pass time.
Smoking is not only expensive, but it’s also bad for your health. In Nepal, cigarettes and other tobacco products are expensive because they are heavily taxed, and the cost can add up quickly.
By cutting back on smoking or quitting altogether, you will save a lot of money in the long run.
I know it feels like no one has become a billionaire by saving cigarette money. But smokers know that the money slowly seeps out after you’ve formed a habit of it.
Drinking is another habit that can be expensive, especially if you’re going out to bars and clubs on a regular basis.
Instead of spending money on alcohol, why not try other activities with your friends, such as playing sports or board games, watching movies, or having a picnic?
Not only will you save money, but you’ll also have the opportunity to bond with your friends in new ways.
How to save money as a student in Nepal? Be Healthy
Being healthy doesn’t just benefit your body and mind, it can also save you a lot of money in the long run.
Many people don’t see things from this angle.
Of course, once you get ill, you must get a medical checkup or at least buy medications from a nearby clinic.
But if you follow healthy habits, you can minimize the instances of getting sick and having to spend big bucks on treatment.
To start, make sure you’re getting enough sleep and exercise. Getting enough rest and staying active can boost your immune system, which can help prevent illnesses and injuries.
Almost all youths and students in Nepal suffer from deficiencies of essential vitamins like Viamin C, zinc, and Vitamin D. This has caused a weakened immune system among youths.
Vitamin deficiency is the cause of frequent illness, lethargy, and loss of energy.
Doctors recommend taking multivitamins (link to Daraz) to supplement diet limitations.
Last but not the least, make sure you get regular dental checkups. I know from experience that dental issues cost more if you keep ignoring them.
At least once a year, be mindful to visit a dental clinic and get your cavities filled. If you sleep on this, you’ll have to do an RCT later, since the problem will only get worse with time.
And RCT costs way more than ordinary teeth fillings.
Concluding How to Save Money as a Student in Nepal: Live like a student
Have you ever heard someone say “live like a student” when talking about saving money?
It’s become a popular phrase among people who want to live frugally and save money, even if they’re earning enough to live more comfortably.
Well, since you’re actually a student, it is time to actually live like one if you want to save your money.
The idea behind “living like a student” is simple – it’s about cutting back on unnecessary expenses and living within your means.
As a student, you’re often on a tight budget and have to be mindful of every rupee you spend.
This can mean skipping fancy dinners, finding affordable housing, and using public transportation instead of driving a car.
In fact, all the tips explained above can be summarized in this point.
In other words, living like a student is a culmination of strict money habits.