There comes a time in just about every student’s life when money becomes a serious issue. Like, where did it go? And so darn quickly? One moment you’re living it up on double vanilla lattés and parties at expensive clubs, the next you’re scrounging for pennies to afford a bowl of stew at the campus food court.
An old German saying goes something like this: “Learning years are not master’s years.” To which all students enrolled at German universities and colleges will agree, especially when looking at their budgets. Nevertheless, some students develop the ways and tastes that come with a high-paying career – way ahead of that high-paying career. This, of course, can only hurt their wallets.
To ease the pain, Young Germany’s financial experts have compiled ten guidelines to help you get the most out of your euros without missing any of the fun. So read on if you are ready to take back financial control:
1. Stay on Campus
Think of your campus as a world of its own. A complete infrastructure that is geared foremost around you, the student. It’s a fact that the German government goes to great lengths to subsidize this quaint little enclave, letting you take advantage of prices that are unmatched (and totally unthinkable) anywhere in the outside world.
Take the food courts, for instance, serving a variety of warm meals up to six times a week. Thanks to funding by German taxpayer euros, you can get a complete three-course meal for as little as two euros. Argue all you want about the quality, but the price is hard to get worked up over. (And hey, there is always a free hot sauce or two to help spruce things up.)
Your campus also offers a wide array of services at unbeatable rates – or even free – including photocopying, printing, and internet access. Remember the golden rule: Before you buy elsewhere, see if you can find it for free on campus.
2. Extra Extra!
For after-hours fun, extracurricular activities are the way to go. Is your fifty-euro per month gym membership weighing down your account? Well, cancel today and join the campus sports program: Pump iron, play ball, learn martial arts or yoga, and even get jiggy on the dance floor for a couple of bucks – at the most.
And don’t forget, once the lights go out in the libraries, the campus is far from ready to sleep. Lectures, film screenings (mostly in their original language) and regular festivities by the many faculties offer ways to cut lose without cutting a hole in your pocket. Forget snazzy clubs; some of the most happening parties take place right here at school. And the promise of loud music, cheap drinks and a chance to meet attractive young students draws in not only members of the academia. “Yes, dear, I’m a student of engineering... mostly fixing cars.”
3. Living in a Box
With campus life where it’s at, why not just move there? Housing in campus dorms is by far the most inexpensive type of lodging. As little as 130 euros a month gets you a furnished room – complete with a new family of roomies from around the world. Agreed, community kitchens tend to be gnarly, and living on the same corridor with up to 50 people sure poses, well, some “challenges.”
But there are upsides, such as free high-speed internet that lets you download to your heart’s content (er, of course, we mean materials relating to your studies). The best part? You are right on campus. Hop out of bed ten minutes before the lecture and still get a front row seat. Priceless.
4. Roommates Wanted
The other inexpensive way to live is in a room-share apartment, or “WG” (“Wohngemeinschaft” in German). This will require some social skills and flexibility on your part, but thanks to online forums such as www.wg-gesucht.de, you can narrow down your search and find roomies that suit your profile.
In a harmonious room-share situation, you can split the costs of food, laundry and other household expenses, which means tremendous savings. And when somebody steals your last beer from the fridge, think about what you’ve learned in that free yoga class on campus. Breathe in, breathe out, relax – and do the stealing yourself next time (just kidding).
5. Cut Down on Superfluous Spending
The trickiest figure to control is what financial experts call the “latté factor,” or the “luxury factor.” This is the sum of all superfluous purchases that add up to a lot of money over time. Like the four euro cream-and-espresso concoctions from the trendy coffee chain or the three euro sandwiches on the go. All not a big deal at first sight, but viewed over the course of a month, the latté factor amounts to some serious money.
Bringing your own thermos of coffee (you can even get flavoured syrup for home) and homemade sandwiches will lower your spending as well as your calorie-count (did you know there are about 400kcal in a latté?).
6. Learn to Cook
Anyone can make a sandwich and pack a lunch. And from there it’s only a small step to cooking your own meals. This will in turn save you great money while raising your market value on the relationships front. After all, everyone likes a partner who can whip up a surprise meal. Fried rice, for example, is an easy-to-master starting point with endless variations. And you can pack it as a salad the next day. From there, the sky is the limit.
Sites like www.allrecipes.com or www.chow.com accessible instructions for quick and satisfying results. Plus, cooking with friends or roommates (see Guideline No. 4) makes for an entertaining evening.
7. Staying Up To Date
Magazine and newspaper subscriptions keep you in touch with the world outside campus walls. But at up to 40 euros a month they present a considerable investment on your part – even with that student rebate. Plus, all the big stacks of magazines will tie you down when it’s time to move out of your dorm room and into your new life as a high-rolling member of the workforce.
The solution? Go digital. Instead of piling up costs and paper, you can read most magazines and daily newspapers online for free. And if sitting in front of the computer to read the news is not your thing, keep in mind that many faculty libraries subscribe to magazines, even those expensive international ones.
8. Bicycle
Next to your latté factor, keeping your own car running can put a heck of a strain on the pocket book. Gasoline, insurance and taxes take a big chunk out of your budget every month. And cars have a tendency for breaking down or requiring repairs when money is already tight. So scrap your own four wheels and pick up a bicycle.
Most campuses offer shops for used bikes, and every German university town boasts a generous network of well-maintained bicycle lanes. Cycling also means a welcome workout, should you relapse into chugging those lattés.
9. Keeping in Touch
For foreign students, keeping in touch with the folks back home can mean running up a serious long-distance phone bill. Depending on where you are from, you can save money by dialling long-distance service numbers (usually starting with “010”) before the actual number, which works great for calling the United States and countries all over Europe.
Calling cards from country-specific long-distance carriers are also an option. Specialized “Call Cafés” with telephone booths provide attractive rates, especially for the Middle East, Africa and Asia. And if you have your own computer, a 10 euro headset in combination with internet call software such as Skype will offer free calls – and cool features such as conferencing with your loved ones.
10. Use Student Savings
Your student ID is the key to a whole world of savings just waiting to be unlocked. You’d be surprised at the number of businesses out there that are ready to give you things for cheap – or even for free. Cinemas, theatres, zoos, swimming pools, and museums all offer discount rates for students. Some nightclubs and bars host student nights (mostly Tuesdays and Thursdays) with discount cover charges and drink specials. Additionally, a number of mobile phone service providers offer packages for students, while software companies carry student and teacher editions of their programs at less than half the price.
And there are travel organizations, such as Sta Travel, which specialize in affordable holidays for students. Whatever you are in the market for, it never hurts to ask for student rebates. If the answer is no, remember the golden rule: See if you can find it on campus first.
