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Money Saving Tips for Students

If you are a student , you will know student loans do not go far these days, and after paying your tuition fees, student housing rent, and union membership, there is not always as much money as you hoped left in the bank account. These tips will help you budget and keep an eye on spending, so that the balance does not get away from you too quickly and you have to live off beans for a month.

Image illustrating blog by Sheffield Property to Let on saving money whilst being a student in Sheffield Banking your money

Firstly, make sure your money goes to a good bank account. Shop around, there are a few deals to be had on the high street. Get an app on your phone, so you can check your outgoings and spending, most banks have one. You can also set up alerts so that you get a text if your balance is low. If you are very disciplined, you could put all your student loan into a cash ISA, siphoning off what you need each month and gaining interest on the rest!

Utilities

Paying your utilities can be a nightmare, especially when there is a group of you all arguing, who spend most time in the shower with the hot water, or has the radiator on full in their room. We suggest getting an all-inclusive deal, such as the one we offer at Sheffield Property to Let, which will you get peace of mind. If you do not have all inclusive, work out a budget that suits you all and get a direct debit setup. Paying by direct debit will also attract a discount from your utilities company.

renting a high quality student flat or house is always worth it. You might spend a little more on rent, but what you cough up now, you will save having properly insulated homes and efficient boilers. 

Planning

Planning will save you time and money. Work out what you are going to eat for the week and buy it, plan each meal, so you are not caught out and need to buy a takeaway or meal out. Plus, it helps you cut down on waste and also stops you having to raid the cupboards for weird concoctions when you get home from uni.  

Planning which trips to take and events to go to will help save you money as you can often get a discount be buying tickets early. This is especially true of trips home in the holidays. Book well in advance and try to travel outside peak times. 

Student Discounts

Show your NUS extra card EVERYWHERE! When out shopping or eating out, there are loads of places that will give you a discount, even if they do not always advertise it. Our blog ‘Amazing deals for students’ will guide you to some of the best in Sheffield.

Work Together

If you can all get together with your flatmates and cook, then ingredients are so much cheaper. Plus it is much more sociable and fun. This apartment just off Ecclesall Road in Sheffield is perfect for that.

This trick also works when going out, as you can get discounts when buying in a large group. If you all need a laptop, ask the salesman for a discount for a bulk buy. Working together like this will save you lots of headaches too.

Don’t quit the Gym

Just quit the fees, by clubbing together in your apartment and getting a few items, such as dumb-bells and resistance bands, running together or you could even hire some equipment. Use You-Tube for workout ideas.

If these tips have helped you, please let us know in the comments below, and don’t forget to give us your tips and we’ll include them in an update.