If you’re new to University, receiving your first student loan may feel like your best payday yet. But without proper budgeting, you could be faced with a premature call to the bank of Mum and Dad (I know that’s what I did). To help you budget better and save a penny here and there, we’ve come up with our top tips for saving money at university.
Taking your car to university not only burdens you with the role of taxi driver for the year, but brings a whole range of additional costs such as petrol, servicing, MOT and tax; you may also incur additional costs through congestion charges, traffic tickets and parking fines. Instead of driving, take the bus or train. Alternatively, you can save even more money and keeping fit by walking or cycling places.
Switch bank accounts...Banks are hungry to have you as a customer and will often pay to get you switched over. Some banks are offering up to £150 for customers to make the switch over.
Make use of exclusive student discounts by downloading apps onto your phone. There are an abundance of vouchers and deals available. All you’ll need is a student email address registered to your uni in order to sign up to the best discount sites. A few well known sites that offer this discount include McDonald’s, (free cheeseburger or McFlurry with your student card) TrainLine student railcard, cheap rides with Uber, UNiDAYS (discount from a variety of different websites include Pretty Little Thing, Topman, Boohoo, new look).
Save money on food shopping and eating out…Feeding yourself at Uni is a lot harder than you may first think.
- Save money on your monthly food bill by buying shop own-brands.
- Make sure to check out the reduced section on your shopping trip to snatch some bargains.
- Set a weekly budget to ensure you don’t overspend Set a weekly shopping budget to ensure you don’t overspend.
- Cook meals in bulk and don’t be afraid to re-heat your leftovers.
- Take lunch to lectures instead of paying for a meal or snack on campus.
- Make use of student discounts for supermarkets and eating out.
- Write a shopping list and stick to it.
Try the 1p savings challenge. The process is simple but could save you loads. On day one, you save 1p. On day two, you save 2p. On day three, 3p (and so on). After 365 days have passed, you’ll have saved over £650.