Saving money as a student

29 October 2018

Juggling your money at university is tricky and takes some time to get the hang of it. Capland have compiled a few tips and tricks in order to make it slightly easier for you.

1)    Extra funding – its crucial to seek out all the extra funding you are entitled too beyond your student finance package. Check to see if you can get a grant or a bursary from your uni, and don’t leave it until you’ve already run out of money.

2)     Figure out a weekly budget – to do this, divide the number of weeks you are at uni by the total amount of money you have. Try and stick to this budget, but remember to plan for overspending for events such as birthdays or big nights out. If you exceed your budget one week, deduct however much you spent for the following week to keep on track. 

3)      Food – it’s easy to over spend on food if you don’t plan your meals or shopping. By planning your meals for the week and bringing a packed lunch into uni, you will end up saving a lot of money. 

4)      Find a job – although you may not be too keen to have a job alongside your studies, you can find jobs which are 0-hour contracts and fit nicely into you routine. Even working for a few hours a week can help you keep on top of your budget. 

5)      Overdraft – many students will have an overdraft at some point when they are at uni. Try to choose a student bank account which gets you the biggest and longest 0% overdraft you can. This will reduce many money problems you may encounter. However, it is tempting with an overdraft to spend more than you should, so you have to be careful with how you use your overdraft.

6) Transport  - a really simple way to save hundreds every year, is to walk more! The majority of student halls or houses will be in walking distance from lectures and seminars. If not, take the bus but check to see if they do a student deal. It’s also a great idea to get a 16-25 railcard, which will help you save a lot on train travel.