Students are well known for being short of money. The major proportions of
students leave the university with a large debt to pay off. Maybe you are
determined stand out in the crowd by all means and are trying to avoid debt
altogether or you are looking for ways to reduce its amount. Either way you came
to the right website.
Being a
student myself I know the down and up sides of it. Despite the expensive student
life I am determined to stay out of debt by the time I get my degree. That’s why
I searched ways on how to handle the challenge and save money as a student. The
most of the tips are quite obvious and some apply more than others -the common
problem is just that we don’t follow them. Additionally I will show you some
very useful sites.
Create a
budget
Saving
money without a budget is nearly impossible. You should know your approximate
income and estimate your outgoings. It is advisable to create a set spending
limit for each category and track your spending daily, weekly and monthly. It
will help you to stay within your limits and therefore hopefully avoid
overdrafts, which can be quite costly. You can create a budget simply on a
sheet, you can use the excel program or you can download a free budget software
here:
Follow the links to access free
budgeting softwares:
Account
When
choosing an account explore all the offers and grab the best deal. Don’t sign up
for an account just because they offering you a free T-shirt. Think of the
long-term benefits.
These two websites have great
advices on how to choose a good student account:
MoneySupermarket.com or
uswitch
Credit card
It is
exciting to move out from home and do all the forbidden stuff. Many of the
activities are costly which could lead quickly into a deep hole of debt. In many
cases it could be easily avoided by just ditching your credit card.
Loan
You will
have to finance you studies somehow and the majority has to get a loan in order
to be able to study. If there is any chance for you to borrow the money interest
free from your parents or relatives, grab this opportunity! You will save
yourself a fortune.
Transport
methods
The most
of students wouldn’t have a car- and for good reasons! To maintain a car you
need deep pockets- for cash. Normally there is a good public transport in those
university cities so you really don’t need to worry about not getting to your
destination. Besides there are many student cards available making it more
affordable.
To spend
even less on your transport live closer to your university and try to walk and
cycle more. You will be kind to Mother Nature, while exercising for free.
Communication
Nowadays
some people spend a fortune on talking and sending messages on the phone. This
can be easily avoided by switching to e-mails and instant messages to
communicate. To reduce the phone bills switch to the pay as you go theme.
Energy
All of us
need to get into the habit of saving more energy. This can be as simple as
switching off lights and electric devices when not needed. Check more on
how to save on energy here:
You can compare prices between
different providers at the previous sites:
MoneySupermarket.com or
uswitch
Entertainment
Of course as a student you
love going out and meeting new people. However this can involve a lot of cash-
so think and spend wisely. Instead of going to the cinema each weekend, invite
friends over and rent a DVD. Everyone can bring something along, such as snacks
and drinks. If you do go to the cinema, take advantage of all the promotional
offers such as 2 for 1. For more on how to save on entertainment check the
entertainment section.
Shopping
It is painful and hard, I
know, but you really need to stop impulse buying. Before purchasing anything ask
yourself questions like Do I really need it? Can I get it cheaper or even free?
and are Is there an alternative which would cost less?
If you cant resist the
impulse buying, avoid shopping malls or take less or no money with you. This way
you are going to set yourself a limit.
When you do need to buy an
item consider the cheaper options such as getting it second hand or from a flea
market. Books, DVDs and CDs really don’t need to be bought brand new.
And don’t forget all the free
stuff you can get. Make the most of coupons.
The freebies section is there
with a couple of good freebie sites- you only need to go and check what
available for you.
The coupon section, I am
afraid will take a while for me to set up, so patience is required. If you cant
wait just google it yourself and I am sure you will be bombarded with lots of
info about it.
Reasonable good websites are:
HotUkDeals, Offeroasis and
Magicfreebiesuk
Food
I saved
the best part to the very last. Let’s talk about food. That’s my favourite part!
Although food and drinks, for some it might be alcohol, is important to survive
it is so easy to save on it too. You just need to be a little bit more
organised and self-disciplined, but hey that shouldn’t be such difficult, right?
Cook your own
Cook your
own food from scratch instead of eating out or buying ready meals. It might
sound a bit scary for beginners- but no worries it is not difficult. There are
plenty of recipes for complete beginners. Besides cooking and preparing your own
food is so much cheaper.
This is great website for student-friendly recipes,
which are easy and cheap to make. You can also search by ingredients.
Studentrecipes
You
can buy stuff in bulk, when in sale or get the most of 2 for 1 deals. If it sees
a bit too much for you, you can always share items (and the bill of course) with
your mates. Don’t shop when you are hungry as you will end up buying much more
than you intended to. In fact you should try to stay full through the day to
resist those expensive take aways.
For those
lazy or disorganised moments keep a good stock of instant soups, bagels, oatmeal
biscuits fruits, raisins and rice cakes. It will fill you up helping you to
resist to drop by to the nearest fish’n’chips shop.
Limiting
your coffee trips will save you loads of money- up to a couple of hundred pounds
per year. Each time it might seem only a couple of pounds but it all adds up to
a rather nice sum in the end.
Drink
prices in restaurants are ridiculous--because that’s where they make the most
money from. Avoid this cost by carrying a bottle of water with you.
And a
final ( wise) word of mine: you came to college to study so focus on it,
stay organised and everything else fall into its place. You pay a fortune for
your education so make the most of it!
Another great website for more
information is Savethestudent
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