Just before I started university, articles with titles like this one were exactly what I would have been searching for and exactly what I, as someone who likes to spend and not save, desperately needed. I’m sure you will understand the feeling. Being told that someone (aka student finance) is giving you a lot of money you’ve not worked for, was music to my ears. When I started university, my dad advised me to budget and, to be frank, I’d try but it wouldn’t always work.
This year has been the most difficult in terms of money, due to higher rent, being back in the normal university lifestyle and actually being able to socialise, while receiving less student loan. All of this has meant that I’m seriously trying to stay on a budget and not overspend when I don’t need to. Unlike in my first-year, I find myself turning down nights out and am not going to every mildly interesting event I see on. This is mainly due to having an intense final year workload, a job, and lots of other commitments.
Anyway, onto what you really came to this article for. Here are some tips on how you can be sensible with your money, from someone with first-hand experience of spending too much and then struggling to pay rent.
Avoid brands
One big thing I would say is to steer clear of buying brands, even though it might be tempting to get Coco Pops instead of lesser known cereals. Try to get supermarket own brands. Obviously, if other brands are on offer and have good value for money (another thing to check when you do a food shop) then go for it. Even though it may not seem like you’re saving much when something is only 80p cheaper, remember that it always adds up. It’s also good to do a big weekly food shop. Spending £5 in your local Co-op every day builds up and, before you know it, you could have spent half of what you did if you’d gone to Lidl or Aldi at the start of the week.
Better value toiletries
My second tip would be to make the extra effort to go to Poundland or B&M for things like toiletries, which will be significantly more expensive in your smaller local shop. There will also be a greater variety of options for you to choose from and larger products will last longer.
Make cheaper journeys
Another way to save is to make journeys by walking as much as possible. If you’re in a rush, or the weather is bad and you need to get a bus, then make the most of student discounts on travel. Being a student in Sheffield is great because most places are within walking distance. However, if I’m getting the bus, a student single to any destination is always £1. It is so easy to order an uber when you’re tired or just feeling lazy. But those £4 journeys will add up.
Prepare and save
A final tip, which is very basic but really helps you to budget, is making your lunch for a long day at university. Buying sandwich fillings and bulk buying snacks, as well as bringing a flask of tea or coffee with you, means you won’t spend money if you’re working in the library all day and start to get hungry. I tend to prepare my sandwiches the day before if I have an early start. That way I can throw it in my bag along with enough snacks to make sure I don’t get hungry and don’t end up having to buy a £3 Tesco meal deal every day.
You’ll find that doing all these small things to save money will help in the long run. It will also mean you can go out for drinks or shopping while comfortably knowing you’re not going to slip into your overdraft or struggle to pay your bills.
Read next: How to make your weekly food budget stretch