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Save More, Live Rich: Your Guide to Student Savings

Saving money as a student in the Netherlands can seem challenging, but with the right strategies and mindset, it's absolutely possible. Whether you're saving for something special, building an emergency fund, or preparing for life after graduation, this page is here to guide you on how to save effectively while making the most of your student budget.

Why Should I Save as a Student?

As a student, saving money might not seem like a priority, but it’s actually one of the most important steps toward financial freedom. Saving early in life helps you:

  • Build an emergency fund for unexpected expenses (like medical costs or travel disruptions).
  • Avoid debt and reduce the need to rely on credit cards or loans.
  • Prepare for life after graduation, whether you're starting your career, continuing your studies, or traveling.

The earlier you start saving, the more financial security you'll have, and the easier it will be to manage your money throughout your student life and beyond.

Top 5 Tips for Saving Money as a Student in the Netherlands

  1. Create a Budget

    • Budgeting is key to saving. By knowing exactly how much you earn and spend, you can identify areas where you can cut back. Use budgeting apps like Dyme to track your expenses and set limits for things like groceries, transportation, and entertainment.

    • Take Advantage of Student Discounts

      • The Netherlands offers many student discounts that can help you save big. From transportation passes to discounts on software, restaurants, and even local shops, make sure you're taking full advantage of these offers.

      Quick Tip: Check out websites like Knaek or Social Deal for exclusive discounts on products and services in the Netherlands.

    • Use a Dutch Student Bank Account

      • Opening a student bank account with low or no fees will help you avoid unnecessary charges and keep your finances organized. Many Dutch banks offer free or low-cost student accounts that come with handy apps to track your spending.

      Quick Tip: Look for banks that offer no monthly fees and allow free ATM withdrawals, such as ING, ABN Amro or Rabobank.

    • Cook at Home & Meal Prep

      • Dining out can be expensive, especially in student cities. Try to cook your meals at home and take advantage of meal prepping to save time and money.

      Quick Tip: Shop at local markets or discount supermarkets like Lidl, Aldi, or Dirk for affordable fresh produce and ingredients.

    • Avoid Impulse Buying

      • We’ve all been there – an unexpected sale or a new gadget catches your eye, and before you know it, you’ve spent money you didn’t plan for. Stay disciplined with your spending by setting a shopping list and sticking to it.

      Quick Tip: Use apps like Too Good To Go to buy discounted food from local stores and restaurants.

    How to Build an Emergency Fund

    An emergency fund is a safety net that ensures you're prepared for unexpected expenses, such as medical bills, urgent travel, or job loss. Here’s how you can start:

    1. Set a Goal: Start small—aim to save €500 or one month of your living expenses for your first emergency fund. Over time, aim to grow it to €1,000 or 3 to 6 times of your living expenses.
    2. Automate Your Savings: Set up automatic transfers from your checking account to a savings account each month. Even saving €50-€100 per month adds up quickly!
    3. Use a Separate Account: Keep your emergency fund in a separate savings account to avoid the temptation to dip into it for non-emergencies.

    Quick Tip: Look for high-interest savings accounts to earn a little extra on your savings, such as Revolut or Centraal Beheer.

    Student-Specific Savings Opportunities in the Netherlands

    1. NS Student Travel Card
      Save on travel with the NS Student Travel Card. As a student, you can travel at a discount on trains across the Netherlands. You can also choose from multiple subscription options depending on your needs.

    2. Renting
      Housing in cities like Amsterdam, Rotterdam, and Utrecht can be expensive. Try to find a roommate or consider student housing options that are often more affordable.

    3. Student Health Insurance
      If you’re under the age of 30, you may qualify for student health insurance (Zorgverzekering), which can be significantly cheaper than regular health insurance plans. Be sure to compare different insurance providers.

    4. Student Loans and Financial Aid
      If you need additional financial help, explore the different types of student loans and grants available to students in the Netherlands. Make sure you understand the repayment terms and eligibility criteria for government-funded support.

    Tools to Help You Save

    • Budgeting Apps: Download apps like Dyme to track your spending and savings goals.
    • Savings Calculators: Use online savings calculators to see how your savings can grow with interest.
    • Bank Accounts: Open a dedicated savings account to keep your money separate from your daily spending.

    Exclusive Discounts for Members

    As a Bronze Budgeteer, Silver Saver, or Golden Wealth Builder member, you get access to exclusive savings and discounts that will help you stretch your budget even further. To learn more about membership benefits and sign up, visit our Memberships page.

    Ready to Start Saving?

    It’s time to take control of your financial future. Start small, stay disciplined, and watch your savings grow. The sooner you start, the more you’ll have for emergencies, future goals, and building wealth in the long run!

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