Managing finances as a university student is a huge step and could be tiresome if not taken carefully. Slimming down your costs of living in the UK and planning ahead any extra costs that you might come across is a smart step, so consider the following tips on managing finances in college:
1- Note Down Your Spending:
This is the first and most important step to learn how to manage money. Students may think that this is an easy task; however, without this initial step, no budget planning could be done. Get a notebook and make it just for tracking your expenses and compare it to the estimated amount of money that you should spend on each aspect. Some international students do it per week and some do it by month, but it has to be done.
2- Save on Food Shopping:
Shop in big supermarkets to get better deals.
Try to be a vegan a few days each week and get your protein intake from veggies.
Freeze your leftovers that could serve as another meal.
Buy things one by one so you don’t throw them away when their expiry date passes.
Make use of the many student discounts in the UK. Also, look for vouchers as well as special offers and, most importantly, get a loyalty card from your local supermarket.
3- Aim at Student Discounts for Outings:
Hunt for cheap tickets and entry to cinemas and entertainment venues.
Get some high-street restaurants’ discount vouchers. Sign up your email in your favourite restaurants’ websites and you will receive all their special offers.
4- Discount Cards and Flea Markets:
When buying any clothes, make sure you are using the NUS card and check student discounts.
There are a number of flea markets and they are available on specific dates. Check the nearest ones around you and you will find hidden treasures there that students mostly go after as a better choice with fewer prices.
In college, international students struggle with buying books because of how expensive they are. In order to save some money, go for second-hand books; ask some of your older colleagues and they will tell you exactly where to find the needed books or they might even lend you theirs. You should also look up the nearest local library and pay your university’s library a visit to see what kind of books do they have. You can also go for books on online websites, like AbeBooks.
5- Transportation Membership Cards:
All the transportation in the UK have a discounted rate for students, so get yourself one of these Oyster cards and use it well. Full-time students and anyone aged 16-25 can apply for a ’16-25 railcard’ that saves you a third on rail travel throughout the UK.
Get on your bike to save time, money, and to exercise as well. Just make sure that the student accommodation in the UK that you’re staying in has secure bike storage.
6- On-Budget Student Accommodation in the UK:
Choosing the student accommodation that perfectly suits your needs and lifestyle in the UK is not an easy decision. You have to consider a lot of things, like its location, cost, facilities, and transportation links. Considering these aspects will save you tons of money; being near your university/college will make travelling back and forth seamless and almost uncostly. In order to also make sure that setting your budget plan is effective, try to choose a student accommodation that has all-inclusive bills, which means that you won’t have to pay any extra bills for water, electricity, and heat.
Check out a list of the best options for student accommodation in the UK.