This is me (far right in case you could not tell!!) when I was a university student during my first year waaaaay back in 1994, at a nightclub on one of our many nights out. That is the thing when you are a student, you don’t actually have much money (well, I certainly did not), BUT we always managed a night out a few times a week. It was always cheaper to go out during the week, as the clubs and bars offered student deals, but we would avoid the weekend because that was when the townies would be out and about anyway.
I have never been very good at saving my money if I am honest, but I did manage to work hard during my uni holidays and save up whatever money I earned, to last me through each term. This came in very handy when I was away at university because I did not get much of a student loan (£25 a term I believe – barely worth having, without meaning to sound ungrateful), so I understood that I had to work to earn as much as I could when I was home for the holidays.
Saving money and being careful with how you spend it as a student is not always easy, but having a student savings account is a good starting point. Being able to get good interest on your savings and access to an over draft are very useful when you are living away form home and having to manage rent and bills, aswell as budget for food and toiletries. Just make sure you do not lose your debit card, as speaking from experience it is much better to take cash with you on a night out because not only are you limiting your spending money for that evening, but if you lose some cash you can still access the money you have in your bank account! If you do lose your card , you can still get your loan quickly from NeedMoneyNow to settle immediate issues so at least there is that. However, that’s still an expense you should avoid. Plus, generally when you lose your bank card you lose other cards which cost to replace, so it a whole thing to avoid doing.
Here are some other student one saving tips from some blogging friends of mine:
Always over estimate the costs – and if you have any left over at the end of the year you can treat yourself. Joy
I have a website called thebookpond.com which helps students buy and sell used textbooks from each other avoiding p&p costs. I made the site after I’d been a student. You find ideas for money saving when you’re funding yourself through uni! Joanne
Only take a fiver out of the cash point at a time , updated version would be to only ever pay cash and never use your debit cards. Maggy
Learn to be a ssertive and say NO you dont have to accept every social invitation going. Wait for the things you really want to do . Becky
Ask for practical/useful things for Xmas and birthday presents. Better for everyone to club together and get you the laptop you need, rather than lots of socks and smellies. Liz
My other tips would include:
- invest in a rail or coach discount travel card
- check out local take aways or restaurants in the area which offer buffet style eat or you can for ‘x’ amount, it makes a cheap night out and many allow you to take your own drink
- club together with your housemates once a week to make a meal, for a few pounds each you can make a feast that will be fun to make together and then enjoy sharing.
- having a themed meal night like Indian, Mexican or Italian can be super tasty and super cheap.
- invest in a slow cooker to make cheap cuts of meat go a long way
What Student Money Saving Tips could you suggest?
For more ideas please see this post
This post has been written in collaboration with TSB
This post makes me really miss uni! I only graduated 3 years ago and still miss my uni days! I remember having a budget of £50 a week in my first year which I was good and stuck too even though I think I was the only student in my halls making pies from scratch and cupcakes!
One tip I have might be too late for this year’s students, but it is to be clever when picking your choice of halls. Even if you’re not a confident cook, think against catered halls. They charge a lot more and from other people’s comments the food wasn’t that exciting – lots of baked potatoes, and wasn’t that nice. On top of that the meals are at certain times so if you miss a meal due to you having a lecture, going home, or are literally too hungover to move, then you’re missing meals you’ve already paid for! And you still have to fend for yourself for one day a week when the canteen is closed. My advice, be brave and cook for yourself! xx
I’ll certainly be packing mine off with a slow cooker, and advice to share the cooking given it makes for a crowd as easily as one. Not to mention finding the best local market for fruit & veg. If you’re going to stave off scurvy, cheaper to do it at the market!
Love that photo – I started in 1994 as well so it looks familiar. We always say we’re glad smartphones didn’t exist then. Imagine how many more pics would be around if we had mobile phone cameras!