Being a student in university nowadays can be tough, if you do not have a budget you may fall into trouble very quickly. The rise in university fees in 2012 to A£9,000 a year and the change in government funded university grants has meant that living at uni has become more strenuous than ever before. We are going to provide you with the most proficient methods to survive through the year while still enjoying the uni life. The following ways will help you to save money whileA at the university.
Make A Financial Plan
Regardless of your current situation in life, you have to know how to make a financial plan. Learning to budget effectively is a life skill that will stand you in good stead. Keep in mind to incorporate the greater part of your costs, to allocate some money for unexpected expenses, and to overestimate your costs instead of underestimate them. Your first year in University usually means that you stay in halls on campus. Once you have completed your first year, you will need to find a house to live in. This means you will have more outgoings like Gas and Electricity to think about. Working during the summer months before you go back to university will improve your financial position. Once you complete your financial plan, you will have more money on a weekly basis for clubbing, food, hobbies and other outgoings.
Your student loan will be paid into your account during the year, being able to work out how much money you need for general living and partying will avoid you becoming broke before your next payment. If you are going out, you should work out before how much money you need and only take cash. Avoid taking your bank cards with you, not only for risk of getting lost but also withdrawing more money after you have had a few drinks. Students (I included) know too well what happens when they wake up the next day only to find out they have spent way too much money.
Do Not Accept Credit Card Offers
When youa€™re struggling for money, those credit card offers are going to look quite enticing. Credit card companies know this, so they target university students. The issue is that youa€™re spending more money when you buy on a credit card, and, in case youa€™re as of now struggling with finances, interest charges on food arena€™t going to help. Also, creditors calling you arena€™t going to help your anxiety levels. When I was at university I fell for this trap, I was with Santander, and they gave me an overdraft of A£3000. At this time I was terrible at budgeting money and only thought about what to spend rather than the best way to budget or save. Well, I felt it the next year, I was threatened with bailiffs and had this hanging over me for the whole year until I paid it all off. You wona€™t be surprised that they have refused me any more credit also leaving a huge mark on my Credit Score.
Protecting Your Credit Score
This is crucial and more of a long-term goal than one that you will meet at university. As many graduates find out, your Credit Score will define you. It will allow you to receive credit on a vehicle and mortgage for a house. This world is a debt membership world, and if you are not included, then you will be left behind wondering why you didna€™t look after your Credit Score. While at university you dona€™t need to watch your credit score like a hawk, all you need to do is be careful. Dona€™t miss any payments on bills and ensure that all of your details are up to date. If you would like to find ways to improve your credit score, then we have provided a guide Click Here.
As long as you are aware of your credit score and protect it from declining, then there really is no reason to worry too much about it. If you would like to find out your credit score, then you can use MyCreditMonitor below. You will have access to a free credit score and report outlining any improvements that are needed for you.
One of the best advantages of student life is without a doubt the student discounts. Being a student can get you cash off practically anything, from a new clothing purchase to a trip to the movies. At whatever point you make a buy you have to find out if there are any discount offers for you as a student. You can ask if you dona€™t see anything advertised. In any case, do remember that since something has student discounts, this doesna€™t mean ita€™s the cheapest option!
Once you start university you will be handed a Student Card, this card is pretty much a gold mine of discounts. Registering with MyUniDays.Com will allow you access to all the discounts that a student can use, they will have a list of savings that can be made:
Student Discount Highlights
Apple EducationA A Up to 10% Off
Amazon Prime A A A Six Months Free For Students
PureGymA A A A A A A A Up to 25% Off
RailcardA A A A A A A A A 33% Off Travel
TopManA A A A A A A A A A 20% Off
Thorpe ParkA A A A A A A£20 Entry
Take a look at HorizonKickDeals on our Twitter page where we post the best deals every single day. We also have some great articles that may save you some money.
Live Close to Campus
If you cana€™t live in a dormitory, attempt to get a house as close to campus as possible. Youa€™ll save money on gas, and youa€™ll be able to go to the university library to collect books andA a nice warm facility to complete your work.
Cut your bills
Save money and also the environment by eliminating your power and gas use. It goes without saying but always ensures you switch off the lights during the day and things like your TV on standby. Likewise, when it begins to get chilly, take a stab at putting on a couple of additional layers first before turning up the warmth! Typing in your postcode below can save you A£100+ throughout the whole year.
Procure More Money
To save money, first, you need to secure it. Check whether there is a project where you can work low maintenance on your campus. You might even end up getting experience in your field! You can likewise take up a part time work in your town shopping centre or even work online as an assistant. The time you put into the applications could be well worth the investment and the additional work experience to your CV will be valuable once you leave university to find a job. Easing as much money-related stress as you can.
Always ensure you exploit any concession fares for students and book in advance to make the best savings. If you are travelling a lengthy distance then ensure you look at all of the choices accessible to you, rather than just selecting the first option you come across. If you are using the train to travel then, you can take advantage of the Student Railcard.
Wait Before purchasing Books
A lot of lecturers list books as required that you wona€™t open out all semester. Rather than coming to class arranged the first day, wait it out, regardless of whether youa€™re going to need the book. Even better, attempt to discover a copy to acquire from your nearby library.
Every single student has a mobile phone, and this runs the risk of either becoming damaged on a night out or stolen. Students may not consider Mobile phone insurance as a must, but with the value of mobile phones nowadays we think it is. GadgetCover is one of the best for phone insurance providing customers with the most cover for a very reasonable price.
Use Gumtree For Free Stuff!
Gumtree is ideal for university students who need new furniture, one person’s junk is another man’s gold so they say. All you need to do is type in your postcode, and you will be able to find people who need to get rid of their unwanted stuff. You would be surprised at the quality that’s on sale, we have found washing machines and dryers on there. As long as you have a few strong arms and some transport, your house is going to look stylish.