Top tips for saving as a student!
5 tips for saving as a student!
- Budgeting with your student loan
It can be a difficult task to control one’s self when you get the famous text letting you know your student loan will be dropping into your bank account in the next 3 days. Although it can be an irresistible task to not treat yourself, budgeting is definitely a smart thing which will help you save every last penny when at university. Setting aside money for essentials such as food shopping, utility bills, the rent etc is something that has to be done, otherwise you could se yourself in a situation where you are unable to feed yourself or perhaps even afford the accommodation you live in. Being organised and having money set aside will help give you a better understanding of how you should be distributing all your money.
- Do not take your card on a night out
I’m sure everyone has been in a situation where they have regrettably taken their card on a night out and woke up in the morning with far less money in their account then they had before the previous night. Sometimes when drunk you are unable to make the correct decision, meaning you might find the urge to splash the cash on drinks for all your friends. Setting aside a lump sum of cash to take on the night out is a great way of saving money as you understand what you have and what you are able to spend.
- Cooking with Housemates
Bulk cooking is an excellent way to take advantage of multiple meals with little ingredients needing to be used. If you are able to cook bulks of food with your housemates then this could be another way for you to save money. Taking it in turns each week to cook meals that can last a good number of days will save you from having to go food shopping again so soon. Of course, not everyone will be in a situation where they can bulk cook with housemates, however this is something that an individual can also do themselves.
- Part time job
If you feel the course you study allows for you to have some spare free time, then perhaps you could think about getting a part time job. This is a great way of gaining some extra income, on top of the loan that you also receive. Usually, on a university campus there is always a few jobs going and the hourly rate tends to be good. this will therefore help out with bills and shopping you have to pay, as well as contributing kore towards your own disposable income.
One great thing about being a university student is the discounts that you are open and entitled to. Make sure that when buying study material, clothes food etc that you check if there is any student discount. Many places do now offer a student discount which normally is around 5-20%. Any discount definitely helps and once more saves yourself money.