You’ve successfully navigated your way through your A Levels and you’ve made it to University.
It’s one of the biggest transitions that you can make in your lifetime. You’re moving away from home for the first time and on your way to becoming an independent individual after years of living under the roof of Mum and Dad.
However, have you given thought to the financial constraints that you’re likely to be under at University?
Thanks to the government, going to University is costlier than ever before with some students paying in advance of 9,000-a-year for tuition fees. While a student loan will help you to pay those charges and provide you with a foundation of cash in the form of a maintenance grant – depending on your financial circumstances – the simple fact is that going to University also means you’re entering debt recovery.
Therefore, it is only logical to spend as wisely as possible during your time at university in order to leave you with as little debt as possible when you eventually graduate. This article will highlight some of the key areas where you can make a saving as a student.
Often, Universities will provide you with a recommended reading list either before or when you arrive on campus. There may also be specific areas of your course that require referencing to certain academic materials. Instead of purchasing all these books, use your University library to loan them out. If you do need a book for a prolonged period of time and decide to buy, make sure to sell it on afterwards when you’re done with it.
Buying in food from the supermarket can be a new experience for most when making the move to University – just make sure not to crazy and blow your budget all at once. Try to take advantage of in-store deals such as ‘buy one, get one free’ and ’50 per cent off’. In addition, it is well worth trying the supermarket’s own-branded products that, while lacking the quality of recognised brands, will be substantially cheaper.
Get a student card
Getting a student card will ensure that you are eligible for a ton of different deals and offers from several outlets such as Subway, BT, Arriva and Superdrug. The most popular of these is the NUS card which comes in three different formats. If you’re a frequent traveller, it is also well worth obtaining a student railcard which could give you up to a 1/3 off tickets.
Time at University is all about going out with friends and having fun. However, it’s important to restrict yourself to a budget on a night out. Tell yourself that you won’t overspend on the allotted budget and avoid the temptation of using an ATM – you will regret it in the morning. While many student-friendly bars may offer deals on drinks, you could make a saving by drinking at your house of residence first and decide to restrict yourself to just one or two drinks on the night out.
Get a part-time job
Well it may not sound particularly appealing or glamorous, getting a part-time job at University will really benefit your bank balance and you’ll feel great for it – giving you the opportunity to spend extra on those items that others can’t afford. You’ll also get introduced to the world of work before you’re set free to the world when you graduate.
An experienced and talented copywriter, Matthew Wood writes SEO savvy content for a collection of online publications and web projects. Matthew’s latest work involves writing creative and engaging content on the subjects of Debt Collection Agency and Debt Collectors for the established online brand CBC International.