Ways To Save Money as a Student In Nigeria

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Saving money is one of the most difficult things a student can achieve. In Nigerian institutions/Universities there are just too many things to spend on, some too necessary to ignore, others too mouth watering to turn the other way. Same applies everywhere else on the world,  it’s just not easy to save money no matter your financial status.

Starting or saving for the first time is literally the most difficult part or phase of savings. If you survive the first one-two months, you’ll be good to go.

In this post, I’ll be showing you a few “unpopular” ways to make sure you save money as a Nigerian undergraduate but as I’m sure you already guessed there will be pre-requisites.

Before we move on, Take note of these quick tips;

  • Forget getting a piggy bank or savings box, it wont just work. It works for kids…not adults so if that is what you were expecting to see, cleanse your mind.
  • You might hear a lot of people saying you should set a goal… This doesn’t always work for everyone. Let me explain why, Most people who can easily set goals and save up enough to buy whatever their goal is, they don’t really need advice on how to save money, they’re strong willed and would easily save up. Others tend to see themselves having multiple goals and anytime they save up to a certain amount, the goal auto-changes, now that’s a problem.
  • Don’t also give it to your friends to save it for you, you’ll never be independent in saving money and there is also a problem of you know…..tampering….

Also Read- 5 Most Powerful Nigerian Deities

 Now you know some tips involved, let me spill the beans on how to save money as a Nigerian Undergraduate

Savings Apps- Remember when I said don’t give it to your friend to save for you? Why not save on your own using a savings app like branch…There are many settings and savings techniques that make it more strict, you can open a savings within these apps and set a withdrawal date, the saving will and cannot be broken until said date. You even get additional interest for saving all depending on how long you intend to save.

Why toss away the money when you can find various ways to make more profit from it? You can consider ways like buying and selling cryptocurrency to try and make more gain. But if you are a newbie, I wont consider it as there is also a possibility of loss.

Think Less About The Savings, this is one of the biggest reasons Nigerian students find it hard to save, If you’re constantly thinking about how much money you have saved and all the things you would buy with them, you end up spending it all before you even know you touched a dime.

Think of the things that you spend the most money on. Find ways to cut down on those expenses. It could be food, clothes, shoes, jewelries, if you minimize expenditure, you save more.

Don’t save alone, trust me when I say, the more, the merrier. If you save as a group you become each other’s watchman. Sometimes the mere urge to out do the rest within you savings circle will make you save better.

If you’re aiming big, you can simply open a fixed deposit account in any local bank close to you.  Just like the savings app, you have restricted access and high interest rates.


if you really want to save, you have to tame your urge to spend and have a strong mindset. Set budgets, be better at bargaining, and remember don’t think about what you have saved so you don’s start getting any bright ideas.

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