Money saving tips for students

With many student loans just about covering the cost of rent alone, it’s no surprise that more and more students are struggling with money.

It’s likely that going to university or college will be your first time living away from home, and with this newfound independence can come a whole host of responsibilities, in particular managing your own budget.

It’s definitely not easy, but saving is possible for students. We’ve put together a handful of money savings tips every student needs to know.

Budget as soon as your student loan comes in

As tempting as it may be to spend your student loan on luxuries, don’t. To ensure you don’t struggle, budget as soon as the loan comes in. Set aside money for the essentials, eg your rent, utility bills and food shopping, to understand exactly how much you have left to spend on frivolities.

Earn some extra income

If your course allows enough spare time, look for a part-time job. You’ll be thankful for the extra bit of income. If your time is too limited, look for other money-making opportunities such as student brand ambassador schemes, where you’re able to earn a bit of extra money.

Leave you card at home on nights out

Taking your card out with you on a night out is a dangerous game. We advise you take cash with you instead and leave the card at home. That way you’re not tempted to spend unnecessary money. Head to the student bars and look out for the best deals on drinks.

Look out for offers and discounts

Make the most out of discounts that are available to you as a student, it’s a no-brainer and can save you an absolute fortune.

For those of you starting university this September and taking your car with you, Halfords Autocentre has the perfect deal. As of now, you can get an MOT on Halfords. All you need to do is pop into your local store, purchase an item of your choice and they’ll put your car through its MOT for nothing! Your MOT will be valid for an entire year, but hurry, you only have until 14th October to take up the offer.

Don’t rush into buying textbooks

Believe it or not, buying every textbook can be a huge waste of your money – especially if you buy them brand new. You’re likely to receive a reading list at the start of the year, yet the chances of you needing them all is debatable. Speak to older students and find out what’s a necessity and what isn’t – and if you really need to buy them consider second-hand textbooks as they’ll be lots cheaper.