In terms of money, being a student is shit. My student loan doesn’t even cover my rent and when I started university I found myself scrounging for pennies at the end of each month. I know it’s obviously going to be difficult to begin with because, for most people, it’s the first time you’re budgeting for your entire existence. Here’s the thing though, it doesn’t have to be so tough! Here are some nice little ways of saving money when you need it most.
Download savings apps
For this I use an app called Monzo, but I know there are lots of different apps around. With Monzo, you can set up a ‘savings’ pot where you can have a setting on that puts at least a pound into the pot every day and every time you spend the price is rounded up and the leftover change is put into savings. It sounds straightforward and that’s because it is! I haven’t really noticed the money missing and in January alone I saved around £130. Like I said, you really won’t notice the money is gone and it makes saving much easier! With Monzo you can also budget how much you want to spend on certain things (eg travel and groceries) and you get a notification on your phone every time you spend.
Doing my general, weekly shopping online (toiletries and groceries) has literally transformed the way I buy. Doing your weekly shop online means that you can search for the items you want and you have the option to buy cheaper versions or see offers, instead of being limited to whatever’s in the shop. Shopping online also prevents you from bimbling around the supermarket and picking up things you really don’t need, like a £4 mug with cats all over it (okay, how could I have left the shop without it?!). Buying fresh food from markets will also help you save cash, if you can get to one.
Okay, so I know I’m talking about saving money but hear me out. If there are things that you buy regularly, especially toiletries, and you see the item on offer…buy a load of it. I do this with toothpaste and mouthwash a lot when they’re on offer for £1 instead of something insane like £2.50 – think of how much you’re saving in the long run! As long as it won’t go off anytime soon and you definitely need it or use it regularly, then buy it in bulk when it’s cheaper.
There are some basic tips to help you save as a student, obviously if you're on a low budget this will help out too! I haven't noticed changes to my day to day living but my bank account is much happier for these changes. Do you have any other saving hacks you'd recommend? Let me know!