4 Ways to Save Money Whilst at University

Moving out of the family home and fending for yourself when first starting your university education is daunting. Living for the first year in halls of residence, however, usually offers a fair amount of assistance – for example your utility bills are included in the rent and the lease term is geared specifically to university term times. As well as this, living in a university hall of residence usually means you are surrounded by other students in exactly the same position as you.

Once you’ve completed your first year, however, may want to live in a private rented accommodation, responsible for your gas, water, electricity bills as well as being responsible for a longer lease term which your maintenance grant/loan may not cover. It also means that you are not living on campus and therefore have to be considerate to your neighbours and respect the property and its contents.

Here are 4 ways to save money whilst at university:

  • Shop for bargains – watch notice boards for special deals that the university is offering; save coupons to use when you next shop; find out what day/time your local supermarket reduces food and shop at that time to benefit from the reductions; shop in charity shops for clothes and household items like pans, cutlery etc; make sure you check in every store if they give student discount, and check online for special discounted software for pupils to benefit from quality products on the market at incredible discounts.
  • Time Management – sharing a house with fellow students who may be on different courses means that you need to plan the most appropriate times to turn on the central heating, plan the best times to eat together to save time and energy, plan to do the weekly shop, and plan to share wash loads – again to prevent over-use of the washing machine/tumble dryer.
  • Prepare a Budget – at beginning of each term jot down a list of your anticipated expenditure (rent, utility bills, food, travel expenses, books and equipment etc.) Then, look at your income – (maintenance grant/maintenance loan/income from casual work/parents allowance). Whatever money is left over is what you have to socialise on. Once this amount has been determined, divide it by the number of weeks of that term and make sure you don’t exceed that amount in your weekly socialising. (Look into times when the university bars are offering special deals but don’t be tempted to miss a lecture because of Happy Hour!)
  • Transport – To save money, try to find accommodation within walking distance from the university. If this is not possible, look into buying a bus pass or, perhaps consider bringing your bike from home (along with a strong lock). For regular journeys home, a railcard should save you money.

Perhaps one of the most expensive items students will need to buy is software. To not overpay check online for reputable software resellers who are offering specially discounted software for pupils and benefit from the great deals available to students and teachers alike.

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