Students – Money Saving Tips

The following is a guest post.

The summer before going to uni might have consisted of looking to find the best savings accounts for that student loan, as well as working the odd job to have a bit of money to help build up a reserve in case of any emergencies.

The reality of the situation is, you probably never saved much money from that summer job and you never got around to finding a great account which will work for your situation.

Luckily we’ve got some money saving tips just for you which will help stretch the student loan and make it go that bit further.

Buy a rail card

If you’ve not got a car at university, you’ll be fully dependent on public transport which does cost but as a student, you’ll get a variety of benefits like a Young Person’s Railcard for example.  So if you save 1/3 each time, you’ve pretty much paid for it after three journeys.

Watch TV for free

Watch TV without paying for it is something all students try and do.  If you have a TV and you don’t pay your license fee you run every risk of being prosecuted and the fine is hefty.  But, if you don’t have a set and you just watch online then this falls outside the remit of the license as it isn’t classed as broadcasting.  As all students will have WIFI, this is a perfect solution.

Buy in bulk and learn to cook

It’s easy to buy ready-made meals every night after a hard day of lectures but this will eat into your funds very quickly, so head to one of the budget supermarkets and buy ingredients in bulk each week.  Cooking from scratch is far cheaper than buying ready meals, as you’ll likely have most of the ingredients in when it comes to preparing dinner.  This of course involves learning to cook, but it will be worth it in the end when you’ve got the cash in your pocket for a couple of nights out a week.

Understand your contents cover

It’s important to have your possessions covered by insurance while away at uni, but don’t rush into it and sign up for a policy at the freshers’ fair.  Before you waste your money check your parent’s home and contents insurance policy as you may already be covered under their “contents away from home section”.

Uni is expensive.  There’s no doubt about it, especially following the rise in tuition fees hitting this year’s first years therefore, you have to save your money where you can so think carefully and plan.

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2 Responses

  1. krantcents says:

    I used college as an opportunity to learn how to budget. I did not know it at the time, but I learned how to budget very well. I taught my children how to budget by capping their expenses based on the prior year. If they wanted more, they had to fund it. They learned a great deal from the experience.

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