Ways to save as a student
Between student loan payments, rent, food and socialising, managing your money whilst at University can be a challenge, especially when it comes to saving. That’s why we’ve put together our top tips and tricks for ways to save as a student.
Be sensible with your shopping
Food shopping is likely to be one of your bigger expenses and it’s one you’ll have to fork out for on a weekly basis so it’s important that you’re smart about it.
Supermarkets like Aldi and Lidl are renowned for their low prices so if you don’t already, it might be worth doing some research and making the switch.
Once you’ve got the ingredients, batch cooking meals is another great way to save. Things like lasagne, curry and shepherd’s pie are all super easy to make multiple portions of and having them in the freezer as backups will save you from spending on takeaways and other impromptu meals.
Make the most of student discount
An NUS Extra card will get you discounts across the city, from popular restaurants to clothing shops. You can find out more about them and how they can help you save here.
This might seem like an obvious point but keeping an eye on your spending is a sure-fire way to save. You’ll soon see how that £2 coffee you have every morning mounts up and find out where you need to cut back or where you could afford to spend a bit more.
Set up a savings account
It’s a good idea to set up a savings account for things like cars, house maintenance or any other unexpected cost that might pop up during your time at University and beyond. Once you have one, set up a direct debit that sends money to it whenever you get paid. You’ll soon forget you even had the money to spend in the first place but you’ll be racking up the savings in no time.
University comes with a lot of invitations whether they be to a coffee and catch up or a big night out. Remember it’s fine to say no sometimes. If that coffee or night out is the difference between dipping into your overdraft or not, turn it down. You could always put a cheaper alternative like a movie night at yours on the table instead.