Money Saving Tips
Being a student often means being on a tight budget. It can be hard trying to juggle the essentials like rent, bills, food and travel whilst also leaving enough for socialising and having fun. So it’s important to think wisely about how you can make the most of your cash! Here are our top money saving tips for stretching that cash a little bit furtheR including those added by students during our Financial Wealth event in November! Add more online by using the hashtag #Chopmybills
Top Money Saving Tips
- Orsaveit is a great app that lets you work out how much you’d save if you cut back on buying something. Take a picture of your goal and evey time you resist the urge to splurge, it adds up what you have saved by resisting!
- Ontrees is a fantastic tool that helps you keep a check on your bank balance and sorts your spending into categories so you know where that cash is going.
- It is worth knowing which supermarkets have the best bargains! There is a really useful website where you can do your shopping online and compare it to other supermarkets. You don’t have to actually do it online if you don’t want to, but it will give you an idea of how much things cost so you can make a more informed choice about where you shop.
- Buy non-branded stuff, honestly it rarely tastes different (okay, in some cases maybe) but it can save you a lot of money if you do. Try one or two things and see if you can tell the difference.
- Make a weekly meal planner. Decide what you are going to eat throughout the week and buy what you need. This saves LOADS of money and stops you from wasting food and taking up valuable space on your shelf! If space is a premium, buy two/three days in advance or arrange to share food with your flatmates and enjoy that lasagne together. Plus this means you don’t have to cook dinner every night and someone else does it, bonus!
- Do you really need a bag of carrots or will 2 carrots do? We are often told that buying in bulk means you make savings, but this only makes sense if you think you will use those 15 carrots before they go all soft and squidgy at the bottom of the fridge. Instead stock up on the essentials that you can store in the cupboard, such as tinned tomatoes, baked beans, bread (you can freeze it), canned soup, Beans and Pulses (yummy stews/soups), pesto/pasta sauces, pasta and rice! – These have a long shelf life and form the basis of many meals. They can also be bought pretty cheaply!
- Arrange to share the basics with your housemates like salt, pepper, curry powder, Italian seasoning, chillies, oil etc.
- Put aside money in a pot each week for the basic cleaning materials that are shared. This adds up and means you don’t get annoyed with your housemate for not ever buying washing up liquid, sponges or toilet roll! There is always someone who never buys it and this way it means that everyone has to contribute.
- Creating an online account with your energy provider allows you to enter your meter readings regulalry and keep on top of your bill!
- There are loads of money saving websites out there that give excellent advice on swithcing your utility providers, broadband, mobiles, credit cards and much more. Our favourites are Uswitch and MoneySuperMarket
For more ideas on managing your money tkae a look out our managing money page!