Preparing for university is an exciting time. You’re about to start a new course, meet and form friendships with people from all over the country, and work hard towards securing the career that you want.
For the next three years or more, you’ll not only be managing your own schedule, but you’ll also be managing your own money.
If your student finance loan barely covers your tuition fees and living costs, you might have to look into getting an extra student loan. And from there, it is your responsibility to budget wisely. Here are some tips on how you can save money while you’re at university, so that you can spread that cash even further.
Budget as soon as you receive your money
When your loan drops into your bank account, it can be tempting to go out and spend it all at once. However, if you want to stretch this money out for as long as people, it’s essential that you set aside the amount you need to go towards your necessities. Ensure that your rent, bills and food shop are covered first, and then you’ll be able to work out how much you have got left to spend on the luxuries.
Do your food shopping in the evenings
One way to save a lot of pennies at university is to go shopping in the evenings. Later on in the day, big supermarket chains – as well as local shop – tend to mark down the prices of many items that will be going off that day. This will provide you with the perfect opportunity to pick up some of your favourite food items for a fraction of the price. When you get home, simply pop them in the freezer, and then get them out to defrost and cook during the week.
Get a railcard
Do you travel to and from university on a train? Or perhaps you frequently visit your hometown and get there by public transport. If so, it would be worth your while to invest in a railcard. These handy cards will allow you to purchase a ticket at a reduced rate, which is usually one third odd the price of an adult fare.
Don’t rush out to buy lots of textbooks
Once you know your reading list for the academic year, try to get your hands on them by buying them second hand. You won’t need them all, and any that you can’t find for sale, you will be able to find at the library. Once you’ve finished with them, you can sell them on, and get your money back.
