One of the main things that come to mind when you’re thinking of becoming a student is how you’re going to cope financially. With university fees, accommodation, food, and also leisure to think about, it can be challenging to plan out how you’re going to manage your money. Luckily, this doesn’t mean that you’re about to spend the next few years of your life worried about money and when you’re next going to be able to afford a meal, as we’ve got some fantastic suggestions that all students will appreciate. Check out these tips on how you can save money, and make money.
Save money
Saving money doesn’t necessarily mean putting cash away each time you get paid. Although this works, there are other ways you can save yourself a pretty penny or two.
- Limit yourself to how many times you splurge on going out for food. While it’s super cool and great for your Instagram pictures, eating out can quickly become expensive.
- Sharing accommodations rather than trying to get your own place could save you hundreds each month. Did you know that, these days, many people are often willing to open up their homes to students in return for help around the house and a contribution towards bills?
- Walk to classes rather than taking the bus or a taxi. While it might not seem like much each week, you could end up with quite a nice sum if you just put that money away each week instead.
- Avoid bars that are expensive. Places like Wetherspoons are perfect for those that want a great night out, but for a fraction of the price.
- Limit yourself when it comes to drinking too. Not only can it eat away at your money, but it can affect your health also. The same goes for smoking. Plus, why waste your time getting drunk and affecting your learning.
- Take advantage of discounts for students. Many stores offer them. Check out websites before heading out on a shopping spree to see what discounts you’re able to take advantage of.
- Rather than buying new for university, why not buy second-hand from someone who’s just about to leave. Things like textbooks can work out to be extremely expensive, so buy second-hand wherever possible.
- Skip out on that trip to Costa. While coffee might be a must in the morning, it’s most definitely cheaper to make it at home.
- Pay bills on time whenever possible to avoid interest and late fees. Even if it means missing out on that night out you’ve been looking forward to, your bank will thank you later. This is one of those habits that financial planners constantly stress because it protects your money long term.
- If you’ve got a credit card, use it wisely. For must have purchases, by all means, use it as it builds up a good credit report. However, delving into massive amounts of debt on your credit card can hurt your credit score.
- Go home on your summer breaks rather than looking for a breakaway. While Ibiza might sound luxurious, the money you’ll save will undoubtedly come in handy.
- Split the cost of groceries with your roommates. It’s likely that at times you’ll be eating together anyway. Why not create meal plans so that you’re all eating well without spending the earth on separate meals?
Photo by George Pak
Make money
These days, there’s always a way of making some money on the side that can help contribute to your university experience. Check out these great ways of making money back rather than just spending it.
- We mentioned buying second-hand items. Sell them again once you no longer need them.
- If you have a car, ask friends to pay for petrol and carpool together. It gives you a chance to make a little extra money, while you’re saving your friends some money at the same time.
- Get yourself a part-time job. Bar work is pretty much always available, and it also gives you a chance to be social at the same time. Alternatively, companies like Deliveroo are still a great company to work for.
- Start a blog. If you have a passion or hobby that you think would interest people, then starting your own blog could lead you into making a very nice side income. Read up on how affiliates and advertising can make you money.
- Sell stuff on Etsy or eBay. Perhaps you’ve got a keen eye for making scarves or wooly hats. Put it to good use and sell your creations for a great way of making money.
- Take part in surveys. You’ll be surprised at how much money you can make by only giving your opinion.
- Enter competitions. Even if it’s not money you’re winning, a cinema trip or all expenses paid holiday will definitely be something nice to do for a change.
- Do some freelance work. Perhaps you’re good at proofreading or editing documents. Websites like Upwork put you in touch with people who are looking for freelancers. The best part is your only limit on earnings is how much you can ideally handle.
- Use plugins like Qmee when using your internet browser. For each link you click suggested by them, it earns you a few pence. Imagine the amount you could earn with research for projects and dissertations.
- Test websites. If you’re someone who spends a lot of time using the internet, then it’s likely you’ve got a keen eye for mistakes or improvements that could be made. Companies like User Testing pay you to test websites and give your opinion.
- Take surveys online for another way of making a nice bit of extra spending money. Many websites have handy apps to make the money making process even easier.
As you can see, there are many ways to both save and make money, especially when you’re a student. Why not take these tips on board and see how much money you can save when you really put your mind to it.
Top Photo by Stanley Morales
