Have you just got admission to your dream university and now you’re thinking about how would you manage and live on a budget in a hostel in Pakistan then you’re at the right place. Hostel life is often your first step into real independence as no more parents doing your laundry or cooking your meals.
But with that freedom comes responsibility, especially when it comes to money. If you’re worried about managing your finances as a hostel student in Pakistan. Below, you’ll find practical tips to help you how to live on a budget in a hostel in Pakistan without missing out on the fun stuff.
Start With Knowing Your Monthly Expenses
You must have a clear idea of where your money is going. It’s easy to spend without thinking, for example, late-night snacks, extra mobile data, random online purchases and the list goes on.
Start with making a clear list of all the essential items including your hostel fee, food expenses, transportation expenses, your phone bills, or extras for urgency.
Once you’ve a clear picture in mind then you can set up your spending goals. Figure out your pocket money and then assign fixed funds to all these expenses.
You can always use a budgeting app to note everything down. This helps you see patterns and cut down on unnecessary spending.
Find Affordable Food Options
When it comes to cheap living tips for students in Pakistan, food takes a big part of your budget. But you don’t have to survive on instant noodles every day.
Start with finding a few local dhabas and canteens nearby that offer desi meals at decent prices such as biryani, daal chawal, and anda paratha, etc. These are fulfilling meals but you get them from everywhere while staying within your budget.
Hostels like ours provide you separate kitchen in case you’d prefer cooking your own meals, so try teaming up with your mates and splitting costs for groceries and cooking together to cut down the food costs.
Items like rice, lentils, and spices are cheaper when bought in larger quantities. Just make sure you have somewhere to store them safely.
Share & Swap Stuff With Your Hostel Mates
Hostel life is all about making friends, living together in a room, and sharing countless laughs together. You can save a lot of money if you’ve friends who you can share your stuff with and use their things as well.
For example, instead of buying new textbooks, ask seniors or friends if they have used ones. You can also split the cost of essentials like cleaning supplies or kitchenware. You don’t need three different kettles in one room.
Minimize Transport Costs
Transport is another factor that takes a huge part of your daily budget. The best way to overcome this is to have your own 70cc bike as it consumes very little fuel. You can also get yourself an electronic bike to save up your fueling cost.
Metro, Orange Train, and rickshaws are cheaper than inDrive or Uber. Instead of taking in drive all the time, try to get local transport for cost-effective commuting.
Lastly, If your college or job is nearby, walking or cycling keeps you healthy and saves money as well.
Part-Time Freelancing Work & Side Gigs
If you really want to live on a budget in a hostel in Pakistan, consider finding a small income stream on the side. There are many ways you can make money as a student. Start with learning a skill online and search for jobs on platforms like Fiver and Upwork.
Moreover, if you’re good at academics you can start giving tutor services to kids struggling with Maths, English, or arts subjects.
You can make a significant amount of money each month to support your expenses as a hostel student in Lahore.
Manage Extra Expenses
We all love outings or buying new clothes but impulse buys like this completely mess up your budget. You need to properly plan your budget to manage this. Here’s how you can do this, keep a separate budget for eating out in restaurants and cafes, and make sure you’re doing that once in a while.
The same goes off for shopping, buy clothes once in a while and avoid impulse buying online to stay within your limited budget.
Keep an Emergency Fund
Living on a tight budget doesn’t mean you ignore emergencies. Even if you save a very tiny amount each month for emergencies, that’s a lot in hard times. Try saving 500 or 1000 rupees every month and they accumulate over the months.
Stay Mindful and Adapt to Your Expenses
The most important thing is to stay flexible. Prices can go up, and your own priorities might change. Keep an eye on your cost of living in Pakistan and try to adapt accordingly. You can take care of this by reviewing your expenses at the end of each month.
Conclusion
Living on a budget in a hostel in Pakistan is totally doable if you plan smart and stay aware of your spending. Always track your expenses and try to stay within your allotted budget. Building these small habits goes a long way and helps you manage your finances even after the hostel life.
