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Tips on saving money
Posted on behalf of: Student Ambassador
Last updated: Friday, 11 October 2024
A person wearing a graduation gown holds a piggy bank in one hand and a graduation cap in the other.
This post was originally posted on UniBuddy.
Financial stability and good money management can define your university experience so I’m here to share some tips I’ve learnt along the way so you don’t make the same mistakes I did.
Being an adult is expensive but being a university student is even more expensive. From groceries, to rent, to social events. Everything at university costs money but don’t be afraid because here are tips on having a good time but more importantly saving money.
Tip 1 - GET A STUDENT BANK ACCOUNT
There are a couple of banks offering student deals. This includes cash backs, set overdrafts and my favourite - railcards. Because there are so many to pick from, I recommend doing your research on which would be most beneficial to you. If you commute home often via train, a railcard would get you a reasonable discount on your journey, saving you money in the long run.
However, it is important to note that although overdrafts can be helpful especially when money is needed urgently, it is easy to spend it on unnecessary things. A good rule of thumb is: Don’t use it if you have no means of paying it back, remember it’s not free money.
Tip 2 - WRITE A SHOPPING LIST
Grocery shopping can be exciting but remember shopping aimlessly is a thing! All of a sudden you’re craving everything and anything and best believe supermarkets prey on this. Writing a list is your best bet; Yes I said a list- most times you think you have everything in your head but your short term memory isn’t that great, you’ll end up forgetting things or even getting distracted by things you actually don’t need. Hence why a list gives you a clear and set objective of what you need.
Tip 3 - MEAL PREP
This should go hand in hand with your shopping list. The goal is to make easy staple meals that are multi functional so you don’t get bored. Once you start meal prepping, you will feel less inclined to order food which saves you lots of money! This tip doesn’t only save you money but saves you time as well.
I hope you find these tips helpful throughout your university experience.
You can find more advice on managing your money on the Student Hub.
This post was created by a former Student Ambassador. Our ambassadors chat to prospective students conline via the UniBuddy chat platform.