So you're a student. You get around £2000 each term. Yet once the term ends
you have NO money left? Here are some Ajiey tips for saving money:
1. Get a Savings account
Savings accounts are very useful as long as you have the discipline to use
it. Whether you work, get student loan or both put a set fee or percentage into
your savings or ISA account and DON’T TOUCH IT! If you get £1700 student loan,
put £500 into the savings account and use the rest to spend. Doesn’t seem like
much at first but by the end of your second year you will notice it!
2. Set Budgets
What do you need, when do you need it? For instance when I start the first term
I know I will need a monthly Travel card for September, October, November and
December, let’s say three since Uni starts around mid-end September (including fresher’s
week) and ends around mid-December. So I know I need to budget of £300 to put
aside for travel cards. Do this for other things like books, food and even
parties.
3. Buy Drinks beforehand!
You going clubbing, buy your wine beforehand at your local Tesco, a £10
drink of wine will get you much tipsier than two £5 Vodka and Cokes from a
club. (I promote for a club and am telling you not to buy drinks from clubs;
they’re going to kill me). But remember… Drink responsibly ;).
4. Get a Student overdraft
Let’s play a game. The aim of the game is to have an overdraft but NOT go
into it. It’s simple but challenging. Make sure to get yourselves that student
overdraft service in case of an emergency but apart from that don’t go into it!
It’s best to stay out of getting more debts and being minus balance. But it is
good to have sometimes we overspend without knowing it, and having an overdraft
service allows you to go over, without stinging you with interest.
4. Use the cheaper services your University
offers.
The perks of being a student are getting student discounts, and services for
much cheaper rates. Be sure to cash in your student discounts wherever you go,
even if you think a place doesn’t do student discounts, still ask you might be
surprised (Nothing ventured, nothing gained). Your university probably has a
Gym. Use that instead of going to the more expensive ones! And milk your
student union for all the free stuff they offer. Notepads, Pens, Bags, and even
Condoms your student union should have all of those there and for FREE. So just
pop in and take some, got a lot of Student Union junk in my room :p. Especially
with the Condoms, walk in, take a handful and walk out… Don’t make eye contact
with anyone!
6. Be Smart!
Just because you now have £2000 in your bank doesn’t mean
you can go out and buy an £100 designer hat (Had a friend that did that) be
smart with your money, you might need it later on. Spend it on what you need
and treat yourself but don’t go around spending excessively on Clothes, parties
and other stuff; you’ll be surprised on how quickly that money can go.
7. Use cheaper
retailers
This ties in with the last point, but what annoys me is when
people insult Primark. I got a £20 leather coat and a £10 body warmer from
there almost 2 years ago, and I still wear them to this day. They are in
perfect condition and keep me warm and have even outlasted some coats I got
from more expensive shops. Just because the clothes cost less does not necessarily
make them less quality. I mostly buy my jeans from Primark too and they look
just like the jeans my friend wears which costs over double of what I paid. It’s
all about finding the best deals for the same product. Go Camden market and
look at their wares, shop at ASDA instead of the more expensive Sainsbury’s. All this saves money that can be used for
something else.
I hope some of this advice helped you.
- Ajiey
