Budgeting For Students: Where To Spend And Save Your Money

Like my blog? Sign-Up for a FREE newsletter! OR Give a ‘Like’ to my FaceBook Page

Most students have to borrow money in some way in order to pursue their studies. However, obsessing over money and where to spend and save it can be an unwanted distraction from the real purpose of being at university. Clearly, saving money is a paramount consideration but so is making the most of your time at university and ensuring it is something you will remember. Here are some tips on where to spend and save your money so that you can still enjoy the university experience while not running out of money in the process.

More Time at Home

One great way to try and save money is to restrict the number of nights you go out and try and have some nights in instead. Many student venues offer cheap entry and inexpensive drinks so you don’t have to stop going out altogether. But do it maybe once or twice a week at most. As an alternative you could perhaps host a movie night, a quiz night or your very own karaoke session. You will save money on drinks and won’t have to worry about the cost of getting home.
Home Cooking As tempting as it is to order takeaways or eat out, doing it all the time can be expensive. The alternative is learning to cook for yourself. You do not need expensive ingredients or lots of equipment. What could be more satisfying and cheaper than a large bowl of homemade pasta and sauce as opposed to reaching for the phone and the number of the takeaway? You could invite friends over and offer to cook for them in exchange for them providing the alcohol. That way you all get to save some money.

Student Discounts

Many retailers and gyms, cinemas and public transport providers offer some good discounts to students. Ensure that you have the necessary identification with you and you will be able to save money and maybe even get fit in the process.

Saving Money on Bills

Bills are something that cannot be avoided, whether you are a student or not. However, by switching utility and mobile-phone providers you may be able to make some considerable savings. You will need the permission of your landlord before you switching your utilities providers. There are also some good deals available for contents insurance, which is a must if you are a student.

Spend Money on Necessary Academic Expenses

There will obviously be some areas where spending cannot be avoided, such as books and equipment, but even with these there are some ways of saving. Most universities have second-hand books for sale and all have well-stocked libraries where you could borrow books that are not considered to be essential for your course. There are many ways to enjoy being a student and save money at the same time. If you know where to look and spend the money you have wisely then you will be able to make that student loan last until the end of the term.

Author Bio: This guest article was contributed on behalf of SO Switch insurance by financial blogger Franki, who comes from the UK.