Top Money Saving Tips for University Students

| July 19, 2013

Introduction to University Living

With tuition fees recently hitting new highs of ?9000 per year, the importance of saving money thus limiting student debt is continuing to rise. Students do not have to be histrionic about the way they save, but saving money here and there will add up and prove beneficial later down the line. There are many areas where a student can save, starting from food and drink to even sport.

Student Loan

Food & Drink

Arguably the best way for a student to save money is to cut back on what you buy; specifically when purchasing food and drink. When you are in the supermarkets, you need to be on the lookout for all types of offers; ?buy one get one free?, ?3 for 2? etc. However, do not fall into the trap of buying an offer when you don?t really need it, because then the supermarket has won and you are spending money for the sake of it. Instead, be on the lookout for offers which are appropriate for you.

Buying fresh food in bulk can be counterproductive. Whenever you buy fresh food in bulk, you end up not actually eating the food before its expiry date, therefore essentially wasting your money. However, if you buy fairly regularly then you know that you will eat the food and it will be money well spent. Making batches of pasta sauce, for example, and freezing them is a good way to get the most out of fresh deals.

Another area to save can be seen in being able to resist fast foods. For example; one takeaway a week can be around ?5, which adds up to ?20 month. An extra ?20 a month for a student is very beneficial as we all know.

Transport

Travel expenses are another area where a student can save money. A student rail card is a great investment whilst being at uni, as it saves you a third off all ticket fares. This means that when you go to visit friends or alternatively travel back home for a weekend, your ticket prices are a lot cheaper. ?Additionally, showing your university student card will get you cheaper bus fares, meaning cheaper all round travel for university life.

Education Costs

When a student starts a new module, their lecturer will tell them about the textbooks they need to complete that specific module. As every student knows, the price of new textbooks can add up, costing in excess of ?15 per textbook. A way to get around this is using ?google books?. Google books can let you find any page of any book you want to read for free online, saving you a fortune on new textbooks. On the other hand, if you are not a fan of this idea, then you could always simply ask the year above to use their old textbooks. As students themselves they would probably want some money for them, but paying a second hand price for their text book will also save you some money.

Sport

Sport is a massive part of many people?s lives, and at uni it gives you that much needed exercise to burn off the alcohol consumption. However, to join a university sports society can actually be very expensive, from the payment of the membership fees to the cost of the university kit. Therefore a good option is to join a local club which doesn?t charge astronomical joining and kit fees.

This article has been written by Toby Fletcher on behalf of UK Credit Limited.

Top Money Saving Tips for University Students

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