Top 10 Tips to Save Money as a Student
Now that you’re moving out of your parent’s house and starting to live like an adult, big changes will be coming your way.
Being a student comes with its fair share of expenses. As a university student, saving money is a top priority after having fun. Most students are always looking for new ways to save money, but few succeed without proper planning.
The financial pressures on a student are intense, especially if they have to balance it out with academic challenges. From paying rent at their student accommodation in Manchester or any other city, to managing food expenses, students have to make the most of the limited money they have.
However, as we know, nothing is impossible if the right means are used and executed. Some students find it easy to save money while others struggle to make ends meet. Everyone has their own journey. To help, we have come up with a few ways of saving money that are tried, tested and easy to implement.
Remember, if you really want to save money, you will! Here are our top ten tips on how you can save money as a student.
1. Make a Budget
If you want to live like an adult, start by doing what they do. Most successful adults have a budget that they stick to. Creating a budget should be the first step you take when you decide to save money. Include all your expenses including food, rent, tuition fees and everything else that you will be spending on. Creating a budget will help you keep a tab on your expenses, so you do not end up spending more than you planned.
2. Cook at Home
Who doesn’t like trying a new dish every day? But when you’re a student on a budget, these cravings become problematic. Eating out can add up to the majority of your expenses as a university student. If you like to eat out, limit it to only a few times a week to avoid overspending. Another advantage would be that you can also keep a check on all the ingredients that go into making your meal. If your accommodation for students in Manchester or any other city comes with a kitchen, you can learn to cook your own meals and save money on groceries making life a lot easier for you!
3. Try to Share Expenses
While it is possible to bear all your expenses individually, it always helps if you have some help. If you have someone who can share the burden of expenses with you, life will get easier for you. Sharing your expenses with a roommate or friend, your costs will significantly be reduced. You can also share your student accommodation Manchester rent, food, commute and academic expenses to greatly relieve the pressure from your shoulders. If you do this, you can end up saving more money, while also not giving up on all the fun!
4. Use Student Discounts
Discounts and freebies make all of us happy. One of the biggest perks of being a student is being able to avail of student discounts. You will likely have student discounts at restaurants, pubs, gyms and even counsellors. A lot of places like art galleries and museums are also free to visit, which you can visit on days that you don’t want to spend money. There are also plenty of events and festivals that do not charge a fee. The UK offers students plenty of student discounts, so keep an eye out.
5. Rely on Public Transport
The UK is a well-connected country. So, instead of having your own vehicle, you can choose to rely on public transport to get around. It’s cheaper and more convenient. You won’t even have to get frustrated being stuck in traffic. It also helps the environment by producing less pollution than having your own vehicle. Walking or using a bicycle to commute would be a cheaper and environmentally friendly way to live. If your student accommodation Manchester or any other place is located in proximity to your university, you won’t have to waste time or money commuting.
6. Limit Socializing
We understand your need to socialize during your university years. So, if you cannot limit socializing, you can at least try to change it. Instead of hanging out at fancy places, where you will be required to spend money, you can choose to hang out at your friend’s houses or walk in nearby parks. If your accommodation for students in Manchester is in proximity to your university, you can walk or cycle there.
7. Save Money on Textbooks
For students, textbooks can be an expensive purchase. So, try finding ways to save money on them. Opt for used textbooks, which will cut their price by half. You can also choose to rent or share them with your peers. A lot of the teaching staff now shares digital copies, so you can choose them instead.
8. Look for Part-Time Jobs
A part-time job will help you sustain your university years. It will take the burden off of your shoulders by letting you pay for all your miscellaneous expenses. You could try your hand at freelancing or try other local jobs that match your schedule.
9. Try Pre-Loved Items
Pre-loved items are seeing a significant rise in sales in the past few years. The pre-loved market in the UK will spoil you with options. These markets are not only limited to clothes but also extend to artefacts, books, electronics and more. You can find everything you need and more there.
10. Cut Down on Expenses
The first step to realizing It’s tempting to buy everything that you see. But as a student, you must learn how to control those urges and save money. If you’re mindful enough, you will realize that there are tons of expenses students make, which are unnecessary. If you manage to cut those down, life will get easier for you.
We hope this list will help you save money during your university years. There are plenty of other ways that you can save money, so try to choose the ones that you are most comfortable with.
About the Author
Lily Carey is a passionate content writer and blogger. She writes about lifestyle, careers, fashion, business and more. Follow her on twitter @lilycareyC to stay updated.