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Best financial survival guide for Moroccan students

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In a tight and unfavorable economic climate that’s regularly increasing the costs of living worldwide, many Moroccan students are struggling with rising prices that impact their daily lives and at times, their academic success.

This guide offers practical advice tailored to help navigate these financial hurdles.

Exclusive Student Discounts: Companies Offering Special Deals for Students In BANK, Telecommunication, and Transport

  • Telecommunication: Moroccan telecommunication companies offer fully digital mobile services with cheaper forfeits.
  • Banking solutions: Several Moroccan banks offer free bank accounts for those under the age of 35, without income conditions, and for life.
  • Carte ATTALIB: A transportation card OFFERED BY ONCF to students younger than 26, offering discounts on train tickets.
  • Carte JEUNE: A transportation card offered by ONCF to young adults younger than 30, offering discounts on train tickets.
  • The ISIC Card: An international card that offers a range of discounts and benefits for students in entertainment, food, transport, shopping, culture, academic support, and travel in 135 countries.
  • Pass Jeunes (YouthPass): A free app offered to Moroccans and foreigners residing in Morocco, aged 16-30, providing discounts, freebies, and other benefits for accessing various cultural, sports, commercial, banking, transportation, accommodation services, etc., nationwide.

Financial Fitness: Strategies for Effective Money Management

  • 50/30/20 Rule: Allocate 50% of your income to needs (rent, groceries, etc), 30% to wants (dining out, entertainment, etc), and 20% to savings.
  • Zero-Sum Budgeting: Assign every dollar of your budget to a specific purpose, ensuring there’s no leftover money. This helps prioritize spending and savings goals.
  • Frugal Living: Embrace a minimalist lifestyle by focusing on needs over wants, buying used items, cooking at home, and finding free or low-cost entertainment options.
  • Budgeting: Create a budget that goes well with your short-term, and long-term goals and track your expenses.
  • Categorizing: Classify expenses by function, project, department, or location to understand where your money is going and optimize it.

Practical Advice to Save Money For Moroccan Students

  • Alternative To: Use the “alternative to” website to find all the alternatives to expensive software, software such as editing software, office software, and entertainment platforms.
  • Comparison Shopping: Before making a purchase, research prices from different retailers to find the best deal. Use Websites and apps such as (Google Shopping, Shopzilla, ShopMania, Bizrate, Comparabus …)

Long-Term Mistakes: Things to Avoid

  • Procrastinating Career Planning: Don’t spend too much time in higher education without a clear career path. Choose a practical field aligned with your strengths and job opportunities to maximize your education’s value.
  • Indecisiveness in Academic Pursuits: Avoid changing your academic direction midway through higher education, as it can delay entry into the professional world and waste financial resources.
  • Feeling Obligated to Settle: Understand that as a student, it’s crucial to prioritize learning and building your future over conforming to societal pressures or expectations.
  • Accumulating Debt: avoid debt at all times and Prioritize financial stability by minimizing borrowing.

Side-Hustle Solutions: Additional Income Streams for Student

  • Stay Savvy in the Digital Era: Moroccan Students should always seek to learn the basics of everything, particularly digital skills, and knowledge. 
  • Explore Alternative Avenues: Consider passive or semi-passive income opportunities, including online gigs and second jobs.
  • Freelancing: Freelance in content creation fields like editing, social media management, and photography to monetize your talents.
  • Digital Businesses: Generate passive income by developing digital products such as e-books or online courses.
  • Boost Your Credentials: Obtain free online certifications like HubSpot or Google Analytics to enhance your freelancing prospects.
  • Survey Opportunities: Platforms like Pawns.app offer students a chance to earn extra cash through short surveys, now accessible in Morocco.
  • Web Testing Ventures: Students proficient in web design basics can earn from platforms like Appen, Utest, and Test.IO by testing websites and platforms.
  • Tutoring: Organize tutoring sessions for lower-level students, providing personalized guidance in exchange for extra income.

Economist Mohammed JARDI’s Takes: Long-term advice to young Moroccans

Mohammed JADRI In an interview with Hespress EN pointed out that Students often make too many financial commitments, such as subscriptions, and loans, which strain their finances.

Mohammed also added a lot of young Moroccans fall for the settlement trap, where they feel like they are pressured to have a house and buy a car, with the use of debt, which leads them to be stuck later in their lives trying to pay the debt. He added that getting to your 30s without a debt can give you flexibility, and financial freedom. 

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Étiquettes : , , , , Last modified: mai 17, 2024
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