With the value of the shilling nosediving in recent times and the cost of goods skyrocketing, life is bound to become much more challenging for university students, especially freshmen joining the institutions for the first time.
This month, at least 65,000 students will be joining public universities.
Most of them are likely to be excited about the freedom that comes with such a move, while a few will worry about their finances or the depressing shilling until later when the courses get underway.
However, experts say that getting your money under control from day one in campus can go a long way in preventing possible serious financial problems in later years.
The following are tips that both old and new students can consider to make financial survival easier in college.
Instead of visiting the bookshop every time your course outline cites new books in the bibliography, look for someone to sell you books they have already used.
This will cut costs by a big margin. You can search for places from where you can get used textbooks through Google.
Once you have used the book, you can sell it to your juniors, which will serve as a source of income at every new level of schooling.
But even better, you can borrow a book, especially if you will not need to use it for long. Borrowing, even when done at a price, can only take a very small percentage of the money you would use if you bought a new book.
Most entertainment joints around the cities have a special subsidised price for students. Visiting these joints is a good way to salvage your money.
Alternatively, students can even organise their own entertainment functions.
You can then charge your fellow students at reasonable prices, and there you are with a source of income.
Instead of frequenting high-end bars in prestigious suburbs of the city, students can consider enjoying their drinks from their rooms or hanging out in medium- and low-class pubs.
Participating in university clubs can keep you entertained and help you spend your leisure time doing things that you love.
Ms Christine Mbula, a Fourth Year student pursuing a Bachelor of Science degree in purchasing and supplies management at the Jomo Kenyatta University of Agriculture and Technology, says the constraints with campus lifestyles have denied students chances of entertainment.
“You use most of your money on food and grooming. You are left with little or no money for entertainment. All of us have a need for entertainment and leisure, but this becomes a little difficult when in campus,” says Ms Mbula.
“I spend my leisure time doing Rotaract Club activities, where we plant trees and conserve the environment,” she says.
Try to get cheaper rooms outside the school compound. You can even share a room with your schoolmate so that the cost of housing is shared between two, thereby easing your financial burden. If the school is near your home, you can do away with rent and commute every morning.
Instead of using a matatu or taking a cab to school, walk there. This not only saves money on bus fare, but also improves your body’s fitness as walking is good exercise.
“I use my skills in hairdressing to make my friends’ hair at a price, which has helped me keep up with life in campus. But the challenge has been time, as I have to use most of my time studying, especially now that I am in my final year,” Ms Mbula says.
She also sells clothes to fellow students, which she buys from the market during the weekend.
Like Ms Mbula, you can engage in different activities using your talent to bring in money.
Some companies have sales and marketing and promotional jobs, which they offer students during holidays and weekends.
Mr Nelson Kinyeru, a student at the same campus, delayed going back to school this September while working with a mobile phone service provider. He earned more than Sh5,000 a week.
Since he joined campus, Mr Kinyeru has always been involved in some business transaction, including selling credit and newspapers to earn money.
This way, he does not require support from his parents or friends. He can fend for himself.
For universities that offer evening classes, doing projects for evening students, most of whom are employed and do not have time to do them, can pay well.
Currently, some operators have extravagant offers such as free calls all day. Why pay for a service that you can get for free? Other providers also have off-peak offers.
There are numerous Internet offers, especially now during the price wars of our mobile service providers.
Students enjoy many discounts, ranging from entertainment to mobile phone services and purchase of some commodities.
One of the most common such discount is the World Bank-funded Kenya ICT Board Wezesha project, which enables students in public universities to acquire computers almost at no cost once they apply online.
Some electronic firms have in the past provided programmes that enable students to buy computers over a period of time.
Recently, David Lemayian, a Third Year Bachelor of Business Information and Technology student, made Sh2.3 million for his Olalashe mobile application, which he designed to help users communicate when in trouble.
The application emerged among the best in the Android Developer Challenge in sub-Saharan Africa, a competition organised by Google.
Use your creativity to come up with such special products that will earn you money and open doors for you in the future.
Instead of taking the minimum number of units possible, consider doing the maximum available, if you can afford it.
With the current development in technology, students joining campus carry laptops, printers, and other expensive gadgets such as iPhones and iPads.
While we all want to cut on costs, burglary among students has been on the rise and foregoing an insurance cover for these items might eventually prove costly.
It is worth checking out insurance companies that have policies favourable for students and their possessions at low premiums.
