5 Tips to Help you Save Money as a Student

Saving and students are two words that don’t generally make their way into the same sentence but we are here to prove to you that it is possible to save your money at uni. Or, at the very least, some of it.

There’s no use us telling you to save your maintenance loan, as we all know they barely even cover the cost of your rent and food in most cases. If you are lucky enough to have some left over, then, by all means, pop it into a savings account but if you’re used to having to scrimp and scrape then we’ve got a few tips that should help you to put aside some extra cash this term.

Here are our top five tips for saving money as a student:

Pre-drink and avoid paying entry fees

One thing that is generally synonymous at university is the drinking lifestyle. While not every student enjoys going out for a drink every weekend, a vast majority do, and it can get very costly, very quickly. There are a few things you can do to keep your costs on your night out as low as possible:

• Pre-drink before you leave home to save needing to fork out for the over-priced drinks in the club.
• Arrive before you have to pay an entry fee or head out to somewhere that you don’t have to pay to get in to. Alternatively, purchase your ticket to the club earlier as it can often be cheaper than paying on the door.

Find out when the local shops do food discounts

At the end of every day, food produce shops will discount any food that is nearing its sell-by date. Ask a store assistant what time they do that and then turn up just before so that you can grab the best deals. It might not seem like much at the time but if you can get a couple of pounds off your food shop each week, it all adds up at the end of the year.

Live within walking distance to uni

Most student houses are located fairly close to the uni but, if possible, try to find a place to live that is within walking distance to campus. Not only will it motivate you to actually turn up to your lectures, it will also save you having to pay out for a bus card or taxis every time you have to venture onto campus.

Make the most of student discount

One of the huge benefits of being a student is that you have access to a huge number of discounts. Before paying in any shop, check with the cashier if they offer student discount and keep your eye out for local discount cards that you can get your hand on as a student, such as railcards and co-op membership cards.

Get savvy with your cooking

If you get along with your housemates, then cooking as a group can be a great way of saving money. If that isn’t an option for you, then cook in bulk for yourself and freeze the leftovers. By planning your meals ahead, and cooking in bulk you’ll find that your food (and therefore your money) goes a lot further each week.

These tips won’t leave you rolling in money, but they should help to keep your bank balance looking a little bit healthier each month!

Shannon Clark writes for Inspiring Interns, which specialises in sourcing candidates for internships and graduate jobs. You can find more of her work at www.shannonlclark.com and www.sweetserendipityblog.co.uk.