September 25, 2020

8 Ways to Overcome Student Financial Difficulties

Reading Time: 4 minutes

How can a student overcome financial difficulties? I have some ideas to help you answer this question once and for all.

Financial difficulties among high school or university students is a familiar story.

Personally, I’ve been there before. So I know how it is like for a student to study on an empty stomach or to worry over unpaid bills, among others.

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If financial difficulties among students is a reality, then how can one study effectively in order to obtain the desired grades in spite of  these money problems? Or better still, how can a student find ways to survive all those money problems?

Being a student is not an easy thing. You don’t have the freedom and the qualification to go out to work on a permanent basis and earn a big salary.

But you still need to pay for goods and services on a daily basis. So the financial problems that the average student can face are really overwhelming.

This is particularly so if, just like me, years ago, you’re coming from a really poor economic background.

Only a few students from privileged homes may escape money worries if they are financially literate enough to manage their abundant resources wisely.

The truth is I’ve also seen some students from “rich homes” having to borrow money from their less privileged colleagues just to survive. I think it all boils down to lack of financial literacy.


Are you a regular school student or an adult independent learner? I’m here to show you how to survive the tough times as a student struggling without much money to study and achieve your educational goals.

1. Live frugally

One way to overcome student financial difficulties is to live frugally.

Do not overspend. Avoid buying anything just because it is the craze on campus or in town. Learn to distinguish between stuff you really need and those you just want so you too can fit in. Be careful the way you spend your inadequate money on the latter.

Tell yourself that one day, when it is all over and you’re gainfully employed, you too will have the comforts you truly deserve after years of toil and sacrifice.

2. Pay your fees first.

Do not misappropriate monies meant to pay for your tuition and related fees. Just do it first. That’s the only way to have your peace of mind to concentrate better on your studies.

Wise up. Clear all your mandatory bills first before anything else. This will definitely save you a lot of financial headache.

3. Prepare your own meals.

Trying not to eat out too often is another proven way to overcome student financial difficulties. That is if you can’t avoid eating out completely.

You will also agree with me that processed or junk food can get really expensive. Do not be deceived by their sleek look, their trendy nature and the good-looking models that promote them on billboards, TV commercials and on social media.

Personally, I do not spend much on processed foods because I hate empty status symbols, which, unfortunately, many of them are!

One way to manage your student finances efficiently is to learn to prepare your own meals on a budget. Why don’t you buy more of organic foodstuffs? Apart from making you save money directly on your feeding cost, it also helps you to avoid expensive medical bills in the future.

There is no knowing how safe any ready-made food is, you know.

4. Stop buying on credit.

If you really want to overcome your student financial difficulties, then stop accumulating debt by acquiring things you can’t pay for immediately.

Chances are  that you may not even use them before you finish paying for all that unnecessary extra cost. So why cause yourself all that financial stress in the first place?

5. Walk

Yes. Simply walk.

You need not take a taxi or buy fuel for your vehicle, if you have one, to go to everywhere. You surely would want to shed some excess fat as well.

6. Buy used.

Buy used books, PCs and laptops, for example. You can even make do with borrowed books or laptops from the library, a friend or a course-mate. This is just one of the smartest ways of saving money on brand new textbooks, photocopy and the like. It is even possible these days to download for free some of your study materials from the internet.

7. Use social media wisely

There is so much wasteful spending on internet data going on out there. Many students who are already facing serious money issues still spend heavily on internet data just to surf through disposable social media images and comments.

Learn to spend your time and money wisely on social media. Some have, in fact, avoided social media altogether, having realized that it is harming their finances and productivity.

If you think this approach is extreme, then learn to go about your social media expenses in a frugal manner. It will save you some cash. Honestly.

8. You need not access all the loans

In the advanced parts of the world, in particular, student loan debt remains one huge headache among college graduates.

Much as you may need to borrow money to take you through your university course, it is equally advisable to be careful how much debt you pile up.

9. Start a blog

Get a job on the side or simply start a blog.

You can make some money even as you study. Just make sure that the nature of the job or blog niche you decide on is such that it does not disrupt your academic work unnecessarily.

Why don’t you teach lower grade students and children what you’re learning on a part-time basis?

Let me tell you a secret.

One route to generating passive income these days is to start a blog and monetize it for profit.

Would you prefer to do something else to earn an income even while you remain a student?

Here is a list of jobs students around the globe are using to supplement their other sources of student income.

Rest assured that these jobs are not location-specific anymore. In whichever part of the world you are now, you will definitely find comparable jobs to help you overcome your financial difficulties.


Remember that the financial difficulties you may be facing currently as a student are not peculiar to you. And, more importantly, they will surely be over one day.

It is entirely possible for you to overcome your student financial worries now if only you adopt the right attitude and strategy.

The simple reason why it is possible for anyone to overcome much of their financial difficulties is this:

Most of these financial problems are self-created. So all one needs to do is to act deliberately to tackle one’s money problems.

And remember, much of it has to do with spending wisely the little money that you have.

I wish you good luck.

Thank you!

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Ralph Nyadzi

"We are each the authors of our own lives, ... We live in what we have created. There is no way to shift the blame and no one else to accept the accolades." This quote from Barbara Taylor Bradford's novel, "A Woman of Substance" sums up Ralph Nyadzi's world-view, what he stands for and why he is passionate about sharing with his readers the power behind this universal truth: The choices we make today determine what we will become tomorrow.

View all posts by Ralph Nyadzi →

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