Tuesday, 3 March 2015

Money Saving Tips

There are so many lists written to help students save their money, however, it has got to the time where many of us have spent a little too much of our student loan and we need to make the rest last until late April. In light of this I have done all of the leg work for you and have read all of the money advice available and written the most useful tips below.

Plan meals in advance
  • It is easy to just pick up some food in between lectures or order a takeaway after a long day at work when we know full well that we have food at home. 
  • Make dinner with your friends or flatmates and split the food bills. 
  • It is so hard to cook for just one person so there are always left overs so why not freeze it for a future dinner or have it for lunch the next day?
  • Above all of these the number one rule is to NEVER go food shopping when you’re hungry!

  • Being a student holds many benefits with regards to discounts.
  • An NUS Card is so cheap to buy and will basically pay for itself. It will give you discounts in a variety of places including; Co-operative, Amazon, New Look, Pizza Express and many many more! 

Avoid the kebab shop on the way home…
  • Not only will this have a serious effect on your waistline it will eventually impact your bank balance.
  • We all know it’s hard to avoid the grease on the way home but instead just wait and make something when you get home.

Invest in travel cards
  • There are many ways that you can save money on travel but the best ways seem to be the 16-25 Railcard and the Student Oyster card.
  • These will save you a lot of money if you’re going home for the weekend or travelling home after a night out.

Text books
  • At your time during University there are so many books that you have to read and they can be so expensive!
  • Instead of giving up a huge chunk of that student loan, try and get these books cheaper by asking previous student if they still have theirs or buy them second hand  on sites like ‘eBay’ or ‘Amazon’.
  • If you only need the book for one chapter then look in the library first.

Organise your money
  • When your student loan is given to you in a lump sum it is tempting to spend spend spend!
  • The most important thing to do is to pay your rent or hall fees first or at least put the money aside, as well as the bills that you will have to pay.
  • After you have done this you can see how much money you have per week and you can set a weekly budget for this such as the food shop.
  • Another good tip is to set alarms to remind you to take back your library book to avoid unnecessary fines.

Maximise your income
  • Many students have part-time jobs to help give them some extra.
  • The University advises that if you are a full-time student then you shouldn’t work more than 20 hours a week as anything over than that may affect your University work.
  • As well as giving you some extra cash, it will also boost your C.V. A good place to start looking for jobs is within the University as they are flexible and understandable with regards to your University commitments.

Living in London doesn’t have to be expensive
  • Make use of all of the free things that are available right on your door step. For example; museums, parks, walks, sight-seeing and many many more.

Get help
  • The University has a student finance team that can give you money advice and answer any questions.
  • In the meantime, see if you are eligible for any scholarships or bursaries which will be able to lend you some help.

Helpful websites
  • www.moneysavingexpert.com
  • www.uk.freecycle.org
  • www.vouchercodes.com

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