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Medical school can be super expensive, and saving money is important to make sure you don’t have to borrow too much. In this blog, we’re going to talk about easy ways to save some extra cash each month, whether you’re in medical school, college, or any other graduate program. These are simple tips that can help you to solve your question of how to save money at medical school. So, let’s dive into it.
Also Check – How Do Medical Students Make Money (click here)
11 Ways To Save Money At Medical School
Here are the top 11 ways that can help you out in saving money while in med school.
1. Use Money Saving Browser Extensions
Ever heard of browser extensions that save you money? Here is the one called Honey. Honey automatically searches for coupons when you’re shopping online. You just add this extension to your browser, and it will help you find deals. It’s an easy way to save money while in medical school.
2. Buy in Bulk
Buying in bulk can save you a lot of money, especially on things you use all the time like paper towels, toilet paper, and even food! Stores like Sam’s Club or Costco are great stores for buying in bulk. You can get a membership for around $60 a year, and the savings you get on gas alone could pay for the membership. If you don’t need a lot of stuff, you can even split a membership with a friend!
Buying food in bulk, especially frozen items like chicken or vegetables, is smart because they won’t spoil. Even if you’re just one person, buying in bulk can save you money in the long run.
3. Make Your Own Coffee
Many students spend a lot of money on coffee from places like Starbucks. But did you know you can save hundreds of dollars a year by making your own coffee at home? You can buy a coffee maker and some good coffee beans and brew your own delicious coffee. It might take a little time in the morning, but it’s a lot cheaper!
4. Stop Impulse Shopping on Amazon
It’s easy to get sucked into buying random things on Amazon. Sometimes you don’t even need them! The best way to stop spending too much on Amazon is to take a moment before hitting the “buy” button. Ask yourself, “Do I really need this?” You’ll be surprised how much you save by cutting back on impulse buys.
Go back and check your old Amazon orders to see if there’s anything you bought that you didn’t really need. You’ll probably find a few things and realize how much you can save by not buying extra stuff.
5. Shop Around for Medical Kits
If you’re in medical school, you’ll need to buy a medical kit, which usually includes things like a stethoscope and reflex hammer. Many schools offer their own kits, but they can be very expensive. Instead of buying directly from your school, check websites like Amazon for the same items at lower prices. This simple tip can save you hundreds of dollars!
6. Use Grocery Apps
Next time you go grocery shopping, try using a grocery app like Fetch Rewards. All you have to do is take a picture of your grocery receipt, and you’ll earn points. These points can be used to get gift cards for places like Amazon or restaurants. Over time, those gift cards can help you save on things you need.
7. Ask for Student Discounts
Many stores and restaurants offer student discounts, but you have to ask for them! A lot of places don’t advertise these discounts, but you can save anywhere from 10% to 20% just for being a student. It never hurts to ask, and those little savings add up over time.
8. Stop Buying Takeout Food
Cooking your own meals is another great way to save money during med school. Takeout might seem convenient, but it adds up quickly. By cooking at home, you can make healthier meals for less money. Plus, you can prepare meals for the week, so you don’t have to cook every single day. It’s a win-win!
9. Use Gift Cards
Whenever you’re shopping online, check if you can buy gift cards at a discount. Some websites, like Costco, sell gift cards at a lower price. For example, you might be able to buy a $500 gift card for only $450. That’s an easy way to save 10% on something you’re going to buy anyway!
10. Avoid Expensive Subscriptions
Many students sign up for subscriptions they don’t even use, like streaming services, magazines, or gym memberships. Take a look at what you’re paying for each month and cancel anything you don’t really need. You’ll be surprised how much you can save just by cutting out a few unnecessary subscriptions.
11. Use Free Resources
There are so many free resources out there that can help you save money. For example, use your school library instead of buying books. Check if your school offers free software or gym memberships. By taking advantage of free things, you can save a lot!
How To Save Money In Med School FAQs
1.How do I save money on textbooks and study materials?
Medical books can be expensive! But you can save money by buying used books, sharing with friends, or getting digital versions. Also, check if your school library has the books you need. Some websites let you rent textbooks instead of buying them, which is much cheaper.
2. Can I work while studying in medical school?
Yes! Some students do part-time jobs like tutoring or working in a clinic. Just make sure your job doesn’t affect your studies. You can also find freelance jobs like writing, graphic designing, or even being a virtual assistant to make extra cash.
3. How can I save on transportation costs?
If you live near your school, walking or biking can save a lot of money. If not, use public transportation, which is cheaper than owning a car. Many places give student discounts on bus or train passes.
4. Are there any apps to help me save money?
Yes! There are budgeting apps like Mint or Goodbudget that help you track how much you’re spending. There are also apps like Honey that find discounts for you when shopping online, or Splitwise if you’re sharing costs with friends.
Conclusion
Saving money as a medical student or college student doesn’t have to be hard! By following these simple tips, like using a high-yield savings account, cutting back on takeout, and asking for student discounts, you can save hundreds, or even thousands, of dollars over time. Every little bit counts, and by being smart with your money now, you’ll have less debt and more financial freedom when you graduate.
