Guide to Freshers: Saving Money at University
Written in collaboration with Paperclip
Sticking to a student budget during freshers and beyond can be difficult. But there are ways to make your student loan stretch further. It can be hard not to spend money, especially when you are in a new city, are meaning new friends and need to buy study essentials for your course.
Here are our top money saving tips for university first-timers.
Guide to Freshers: Saving Money at University
Budget Sensibly with your Student Loan
It can be hard not to treat yourself when you see your student loan money hit your bank. But by budgeting for essentials (rent, bills, food and travel) you can see exactly how much treat money you have left for the month. This way you can enjoy yourself without having the worry of missing bills and getting into trouble.
Shop around for the best student bank account.
Banks are one of the first to offer perks to draw students in. Take the time to compare student bank accounts and pick the one best suited to you. Some of the perks that many banks offer include:
- Gift cards
- Interest-free overdrafts
- Cashback
- Entertainment packages
- Access to savings accounts and ISA’s
Make an informed choice when it comes to picking a bank and choose the account that will offer you the most long-term benefits.
Student discounts for Freshers
One of the biggest perks of being a student is the amount of discounts that are on offer from all sorts of retailers. Get to know which high street stores offer student discounts on study materials, clothes, food, toiletries and more.
You can often find lots of student friendly brands at your university’s freshers fair. Due to the current health crisis many freshers events are unlikely to go ahead this year. Instead, you can sign up to receive a free Digital Welcome Pack from yourfreshers.co.uk. This digital pack will include tons of student deals from Amazon, UberEats and more!
Join the waiting list now for a chance to win 100’s or prizes and receive your own unique referral code. Students who refer friends will get early access, the chance to win prizes and a £25 Amazon gift card after you refer 100 friends.
Cook with your Housemates
Reduce the cost of your food shop by cooking with your housemates or taking it in turns to cook for each other. Not only will you save money, but you’ll also get to spend quality time with your housemates. There are plenty of easy, student-budget friendly recipes on BBC Good Food.
Earn extra income
Depending on your career goals and how much free time you have, it might be a good idea to get a part-time job. A part-time job will offer you come extra cash and allow you the opportunity to build up some experience for when apply for jobs post-university.
Some of the more common student jobs include working in retail and hospitality. But it’s a big bonus if you can get a job in the field you want to work in in the future.
Equally, if you have a business idea, a skill or a platform of some kind, there’s no better time to explore extra income opportunities while you’re a full-time or part-time student. I started blogging in my final year of university and now earn a decent side income from it.
More Money Savings Tips for Students
Student Discount: Updated Guide
6 Things To Budget For When You Start University
Free Tools and Resources for Students
University is an amazing experience. From learning new things to meeting new people and being offered a whole world of new opportunities. Make the most of your time at university and don’t let more money management get in the way of your fun.