We all know the best text you can ever receive is the one from Student Finance to say your loan is about to drop. The thought of having a stack of money dropped into your account suddenly turns you into a baller and you start planning round the world trips and what colour your Ferrari’s going to be.
But the minute it drops you’re brought crashing down to earth when you realise that you’ve got to make this money stretch while making sure you’re fed, have somewhere to sleep and still maintain a social life. The thought can be a bit daunting but it isn’t as bad as it seems.
We’ve put together a couple of tips that will help you manage your money better at uni, but we probably wouldn’t put a deposit down on a Ferrari just yet.
1. Budget, budget, budget!
We know it’s boring but sometimes sitting down and actually writing down how much money you have for the month can really help. Split your money up into rent, bills, food and transport to make sure you’re covering the important stuff and can keep yourself alive. Make sure you keep this money separate so you’re not tempted to use your rent money for a night out then any money left over you can use to treat yourself without feeling guilty.
Don’t forget there are loads of ways you can keep your food bill down, including bulk buying, scouting supermarkets for the best deals and planning your meals day to day. Batch cook your favourite meals and freeze them for a healthier and cheaper ready meal.
If you get on with your housemates you could even cook in bulk with them and share the bill, this also means you won’t have to cook every day. If you do fancy a takeaway it’s not the end of the world but scout around for the best deals. Make sure you keep hold of all of those leaflets you gathered at the freshers fair which will have some unreal food discounts on.
3. Shop smart
Just because you’re on a budget doesn’t mean you can’t treat yourself to some new sneaks? At Footasylum we have the latest trainers for the best price AND you lucky students can get yourselves discount through UNiDAYS! Don’t say we don’t look after you lot.
4. Student Nights
Just because you’re on a budget it doesn’t mean you can’t have a social life. Find your local student nights at the pub, club and even some restaurants to enjoy cheap drinks and cheap food. Often hosted during the week (perfect for those uni free days) student nights are the perfect way to be social without blowing your whole student loan.
The main reason you’re receiving a student loan is that you go to uni so you need to be able to actually get there. If you’re living on campus, chances are you’ll be able to walk to lectures which will save you money while also keeping you fit. If you live a bit further out opt for a bus rather than a taxi or if you’re going to be getting the train daily, it’s worth investing in a 16- 25 railcard.