Keeping on top of your finances when at university can be challenging, not only do you have rent and other expenses, but you also have books and food to pay for. Though it may seem tempting to opt for quick same payday loans today to help you when you are low on funds, these should be used for financial emergencies only. Alternative finance will need to be saved to help you cover your costs. In this article, we will be giving you a guide on how to spend money effectively during your time at university.
Avoid Additional Expenses
When staying up at Uni, it may be tempting to splash the cash on items for your dorm, but it is important to be smart with your money and think about what you need. By avoiding additional expenses such as TV licenses and other subscriptions you are saving money for books and your weekly food shop throughout the course of the year. This is a habit that is beneficial for you to get into during the first year of university as this will help to save money right up until you graduate.
Look For Cheaper Rent
Another way that you can save money efficiently as a student is to negotiate the price of your rent. If you are not able to negotiate the price of your rent, looking for new accommodation or even a place of your own at a cheaper price will help you to save money, particularly if you are running on student loans alone. If you find your own home, it may be beneficial to move in with some of your friends as this will help to reduce the overall cost of rent in the long term.
Avoid A Gym Membership
Though it may seem tempting to join a gym membership to help you keep fit, why not join a group of people that all go on a run or a walk. This is the perfect way to get fit and lose weight without spending money on memberships. If you are lucky enough to have a gym at the university, why not try working out here as this will give you the opportunity to meet new people and get fit at the same time without having to spend a penny.
Only Take Cash On A Night Out
In a time where contactless credit cards are becoming more and more popular, it can be all to easy to overspend, but by taking cash only on a night out, you can set yourself a strict budget without the opportunity to overspend. Keeping your card at home and taking only cash will allow you to see where the money is coming from as well as ensure you do not overspend at any point. By setting yourself a budget of £50 for a night out, you then make sure you have enough for drinks and even some food for the night.
Whether you are just starting your first year and are looking for a way to save money as you learn or you are looking to save money as you head into your final year, you can be sure to have the results that you want without borrowing from your parents.