University on a Budget
So, you’re finally going to university, which means you have to become independent. It’s a big world out there and we’ve all been at the point where you have to survive eating instant noodles at home before you can go out again. Here are 8 top tips for budgeting at university.
1. Don’t splash it out all at once!
We know it’s on old one but it always works. Don’t be tempted to go out and throw money around every single day for that first week with your student loan. Go out a few times but be reasonable. Then those days you have missed out on will come around again by the end of the month.
2. The bare necessities
Make sure you have enough money every month for the necessary things in your life like transport, food, and materials for university. Come on, let’s face it if you don’t have money for these, what’s the point in being at university?
3. Have your parties at home
Everyone loves a house party! They’re always much more laid back and everyone seems to enjoy mingling in a carefree space, rather than a crowded club. Guests can bring their own drinks and you can easily make some fun party food, which will hardly cost you!
4. Use your student perks!
As a student, we constantly get special offers and discounts, so why not use those to your advantage! Looking for a new pair of Nike’s? Get it with your discount! Want a new dress for that party on Saturday? Use the code, to get 10% off! There’s always something for everybody.
5. SAVE, SAVE, SAVE!
This is the one thing every single person will stress. Saving your money is one the smartest but hardest things to do. You’ve got some leftover cash this month that you know you're not going to use? Withdraw it and put it in a piggybank. Or put it into a savings account that you can’t use. A little goes a long way, so after a few months or so, you’ll have a nice amount that you can treat yourself with.
6. Socialising within your university
Universities have their own student unions that understand some of the difficulties students face. So they’re always there to prepare events perfect for the budgeting student! There are also societies and clubs you can join for free, who have weekly meetings or a get-together at the university. You just have to find the perfect one for you!
7. Something you don’t need…
… Sell it! Your used books from last year that have been collecting dust all summer and you know you won’t even open them this year can be turned into much-needed money in your bank account. See if your university bookshop will take them for a 50% discount or sell them back to Amazon for a price close to what you bought them at. Every little bit helps!
8. What are housemates for?
Any household expenses you and your housemates might come across should be split evenly amongst all of you. For example things like Internet, TV memberships, washing machines, etc. Seeing as these are things you would all need and use regularly, it’s only fair you all chip in for it. A little bit of teamwork can go a long way.
So why not take these tips and put them into some good use and become a budgeting sassy saver!
Undergraduate, University of Westminster, London
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