Student life is expensive.
Rent, food, textbooks (which can sometimes amount to £200+ every year), bills, and more importantly, nights out, drink, and weekly (daily) trips to Wetherspoons really add up.
Track what you’re spending – and budget!
This is the most important step to take – it’s impossible to improve something unless it’s actively being tracked. A lot of students forbid themselves from ever checking their bank balance – just to avoid the pain! Obviously that’s a terrible idea.
There are lots of expenditure-tracking/budget apps out there. A good example is Monefy – it’s an app which makes it really easy to track what you’re spending, where it’s going, and which areas could be improved.
Convert every significant expenditure to time
Sure, those two overpriced Friday-night cocktails might seem a good idea at the time, but if the asking price was 2 hours’ work instead of the £14 that’s being asked for, would you still ‘buy’ them?
Thinking about how long you’d need to work to afford what you’re buying really puts things in perspective, especially useful if you’re an impulse buyer!
(Side note – we don’t recommend dwelling too much on this in terms of tuition fees. With some courses having 10-15 contact hours per week, each lecture/seminar can work out at around £25 per hour! Perhaps that’ll stop you skipping those 9am lectures…)
Might seem obvious, but it’s worrying how little time most people spend shopping around for the best deals.
If you have a significant electronic purchase to make, search on Hotukdeals.co.uk for the latest deals and discounts on specific products.
Invest in an NUS Card
This card pays for itself with the sheer number of discounts available on clothing, electronics, restaurants, and travel. You even get 10% off at The Co-Op, which could come in handy for your weekly clothes shop. Buy it here.
This seems like a good opportunity to mention that we offer 10% student discount on everything! Not bad at all considering our already unbeatable value on men’s fashion!