6 Tips on saving money while at business school

Every now and then in your life at business school, someone or the other is bound to put forth the question that is essential to the existence of our Galactic Civilization:

‘Where shall we have lunch?’

And to add our humble 2 cents to it, ‘Who is going to pay for it?’

Unless you’ve managed to bag that all-expense paying scholarship, going to business school is not really easy on the pocket. Term fees can cost quite a tidy packet, and you’ll probably be thinking about getting a scholar loan or some kind of financial aid from the school. School expenditure notwithstanding, your home rent, gas, electricity, phone, credit card, internet and other assorted bills will be snapping at your heels. What’s more, someone has to pay for the beer, pizza and the afore-mentioned lunch too.

Our dependable Sherpas have been there and they now, as always, come to your aid to help you out make do with your wallet during your time at B school!

Student Discounts: Do not underestimate the privileges of being a student. You can get student discounts on everything from the Wall Street Journal to computer software. Keep your student ID card handy wherever you go, and grin down at the student discount entry on your bill!

Car Pool: Besides the various car pooling incentives that the government gives, you’ll also save on gas and do your bit towards reducing carbon footprint. Do this whenever possible. Also, get a car which doesn’t guzzle gas like a beer chugging college (under-)grad. Save the chugging for the parties.

Get Used Books: You’re not going to have the time or the patience to read all your books from cover to cover. Used books will be cheaper to buy and you can return the favor to your juniors when they join after you.

Say no to Expensive Gourmet Lunches: Stay off these as much as possible. Brown bag sandwiches and water fountains have proven to be much better for the dents in the wallet. It’s all good.

Saving on Software: Your school’s IT department will most probably be armed with an arsenal of awesome software which are useful for MBA students. Most schools have a blanket license for computer operating systems, antivirus software and other tools which you will need during your course. Check these out before you decide to purchase any software.

Our Favorite – Drink up when it’s free: Drink for free at Happy Hours and the school-sponsored events on campus. Many of these are formal dinners and classy affairs. All a privilege of being a part of that school you’re going to.

All said and done, it may not be easy to shift gears in your lifestyle. What we’re recommending is that you take these measures to the extent you feel comfortable balancing economical living with your wallet. After all it’s only for a few months; you’ll soon be back out there with a job and an MBA under your belt.

‘Patience comes with a reward Sweet’ ~ Not quite a Japanese proverb but you get the message, don’t you?

  • Ebin Mathew

    Well said! Particularly when you have spent all your hard earned money (at work) as b-school fees. Sad part is, looks like I will have to start from zero bank balance once again after MBA!!!

    • http://www.mbabasecamp.com/ MBA Basecamp

      @5f82dde1b63aa033fd9ca282caa8577f:disqus In most cases, the bank balances slide into the negative! Glad you liked the post.