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Budgeting

The best money saving tip is to budget. It’s not easy but if you work out your incomings and expenses you can work out how much you can spend on clothes, CDs, food shopping and alcohol.
The easiest way to do this is to write down how much you have going into your bank account each month (e.g. student loan, bank of mum & dad, wages) and then write down the total going out (e.g. rent, tuition fees, mobile phone contracts etc.).

By taking the outgoings from the incomings (hopefully you’ll end up with a positive number!) you can easily see what you can afford to spend on other stuff. The ideal is for the figure to be £0 which means you aren’t spending any more than is coming into your student bank account each month.

 

Here are some tips to save some cash quickly:

1) Walk into uni/college rather than catching the bus
2) Don’t use your car much (short trips use a lot of petrol)
3) Buy cheaper food
4) Take out cash at the start of the week so you can easily see how much your spending rather than putting everything on your card.
5) Buy second hand books rather than brand new student text books.

Try the great student finance calculator from UCAS

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