8 Tips for Saving Money as a Student
Being a student is often associated with not having a lot of money. You may receive a decent student loan, or you may not but either way with rent, nights out and many cups of coffee to pay for it can be hard to save.
With these eight tips, hopefully you can go from skint student to savvy saver.
Learn to budget
This may be easier said than done but figure out how much you have to spend each week and try and stick to this. There are plenty of websites and blog posts to help you learn how to budget and UCAS even has its own
There are plenty of websites and blog posts to help you learn how to budget and UCAS even has its own Budget Calculator.
Swap to a student account
You might need to do your research with this one to choose the best account for you but Santander offers a free railcard so if you use the train to go home this is a great money saver.
Similar to the above, you can use this card to receive some impressive discounts. From restaurants to clothing stores, while this isn’t an excuse to shop more, it is a great way to save some money when you do want to treat yourself.
Be lunch smart
The university meal deals or the local pub can be tempting but when you can, try and make up a packed lunch as you’ll be surprised how much money you can save. The same applies to coffee. Take a flask rather than paying for a coffee from the local coffee machine.
The same applies to coffee. Take a flask rather than paying for a coffee from the local coffee machine.
On the same subject of food, rather than eating out with your friends, why not eat in? If everyone chips in with some ingredients, you and your housemates can eat together for much cheaper. On days when the sun is out you could take your meal outside for a picnic.
On days when the sun is out you could take your meal outside for a picnic.
Ditch the brands
Where you can, try and opt for unbranded products especially in the food shops. According to Save the Student’s Student Money Survey in 2016, 65% of students said their diet suffered while at uni.
You may want to stick to some of your branded goods which is fine, but unbranded is usually cheaper so swap where you can to ensure you can afford to eat well.
You can start small, but try and start putting money away here and there. Open a savings account if you plan on making some bigger savings or simply use a piggy bank as the small change will add up.
Make eBay your new BFF
The chances are you have some clothes hiding in the back of your wardrobe that you either haven’t worn in years or you know you won’t wear again.
The NSPCC’s Spending Report found that 41% of students sell possessions online in order to make money.
As a student you are probably always looking for ways to make some extra cash so selling items on eBay is perfect.
Emily Braybrooke is a recent Journalism graduate from the University of Lincoln. In her spare time she enjoys photography, blogging and singing. Check out some of her photography work here or sit back and read her blog.
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