7 Easiest Ways To Save Money As A Student In Nigeria: Most Trusted And Recommended Apps And Platforms

Saving money as a student in Nigeria can often feel like a daunting task, especially with tight budgets, rising costs of living, and the constant need for essential academic and daily expenses. However, with careful planning and access to the right tools, saving money can become a manageable and rewarding practice. In this blog post, we’ll explore seven of the easiest ways to save money as a student in Nigeria, along with the most trusted and recommended apps and platforms to help you do just that.

1. Create a Budget and Stick to It

One of the most important steps to saving money is creating a budget and strictly following it. A well-planned budget ensures that you don’t overspend on unnecessary things and helps you prioritize your spending. As a student, you can budget for essentials like tuition, rent, feeding, and transportation while setting aside money for savings.

Recommended App:

• Mint: This budgeting app helps track your expenses, categorize them, and manage your income. It also offers insights into where you might be overspending, helping you adjust your budget.

2. Use Cashback and Discount Platforms

As a student, you can take advantage of cashback and discount platforms that reward you for shopping. These platforms offer cashback on purchases you make from partner stores, giving you an opportunity to save money each time you buy items like clothes, food, or gadgets. Additionally, many platforms offer student discounts on certain products and services.

Recommended Platforms:

• JumiaPay: JumiaPay offers discounts on various services, including airtime, data, and utility bills. The platform also rewards you with cashback for using their services.

• Pocket by PiggyVest: This platform allows you to pay for goods and services and get rewarded with cashback.

3. Save with Micro-Savings Platforms

Micro-savings apps allow you to save small amounts of money frequently, making saving easier and more manageable. Instead of waiting to save a large sum, these platforms allow you to set aside small amounts daily, weekly, or monthly. Over time, this adds up to a significant amount, which can be used for tuition fees, emergency expenses, or personal projects.

Recommended Apps:

• PiggyVest: PiggyVest is one of Nigeria’s most popular savings platforms. It allows users to save money daily, weekly, or monthly and offers attractive interest rates on savings. You can also lock your funds for a specified period to prevent premature withdrawals.

• Cowrywise: Another trusted savings platform, Cowrywise allows you to save and invest your money. It offers automated savings plans and helps you track your progress toward your financial goals.

4. Buy in Bulk

Buying in bulk is a great way to save money in the long run. Many stores and online platforms offer discounts when you purchase items in large quantities. By buying items like food, toiletries, and stationery in bulk, you can save a significant amount over time.

Recommended App:

• Konga: Konga offers great deals on bulk purchases, especially for groceries and household items. You can also take advantage of their sales and discount periods to save even more.

5. Take Advantage of Student Discounts

Many businesses and service providers offer special discounts for students. Whether it’s buying academic software, attending events, or even streaming services, presenting your student ID can get you lower rates and offers. Be sure to always ask for student discounts when making purchases, as this can help you save a significant amount.

Recommended Platforms:

• UNiDAYS: UNiDAYS is a global platform that offers exclusive discounts on products and services for students. Nigerian students can benefit from deals on fashion, tech, and entertainment by signing up and verifying their student status.

• Amazon Prime Student: If you’re a student with access to international services, Amazon Prime Student offers discounts on membership, giving you access to movies, TV shows, and free shipping on purchases.

6. Use Ride-Hailing Apps with Discount Codes

Transportation is a major expense for students, especially those living off-campus. Ride-hailing services like Uber and Bolt have made commuting easier, but frequent use can become costly. To save money, look out for promo codes and discounts offered by these ride-hailing apps. Many of them run regular promotions that can significantly reduce your transportation costs.

Recommended Apps:

• Bolt: Bolt often offers discounts on rides through their app. By applying promo codes or taking advantage of special offers, you can save money on your daily commute.

• Uber: Like Bolt, Uber provides promo codes and discounts that students can use to reduce travel expenses. Keep an eye out for these promotions on social media or within the app.

7. Invest in Savings and Investment Platforms

As a student, investing may seem like something for the future, but starting early can help you grow your wealth over time. There are various savings and investment platforms that allow you to invest with small amounts of money while earning returns. These platforms offer a variety of investment options, from low-risk savings to higher-risk investments in stocks and mutual funds.

Recommended Apps:

• Risevest: Risevest allows users to invest in U.S. real estate, stocks, and bonds, providing an opportunity to grow your savings in a stable currency.

• Trove: Trove is another investment platform that allows Nigerians to invest in both local and international stocks. It’s a great option for students looking to grow their savings over time.

Conclusion

Saving money as a student in Nigeria doesn’t have to be overwhelming. With the right tools and strategies, you can make the most of your limited budget and build healthy financial habits for the future. By budgeting, using cashback platforms, taking advantage of student discounts, and investing in micro-savings platforms like PiggyVest and Cowrywise, you’ll be well on your way to financial success while still in school.