On a Budget: Reducing the Cost of Everyday Student Life

Student ExpensesThe life of a uni student can be expensive when everyday purchases add up. Expenses such as food and student accommodations have the ability to dry up a savings account. While most are unavoidable, there are ways for you to lessen the costs and enjoy a great student life at the same time.

Write a Budget

The best way to save money is to keep track of all your expenses. Course books, nights out, food, and dozens of other little thing can combine to have you dipping a little too much into your savings. Thus, it is essential to create a budget — and to stay faithful to it! First off, see how much money is coming in. Consider everything, such as gifts from parents, savings and income from part-time jobs. Then, allocate fixed amounts to the things you spend on like books, food, socialising, phone bills etc. Instead of writing the figures on a scrap of paper, encode all the details in a spreadsheet so you can clearly see where you can cut back.

Grab Discounts

There are high street shops that post at least 10 per cent discounts on certain products. In addition, the discount rate rises to 15-20 per cent at certain times of the year. Thus, it is always a good idea to keep an eye out for discounts. It also helps to be proactive. Ask shops for student deals (remember to bring your student card with you, of course).

Another good way to cut down your expenses is to go online and visit student discount websites. Remember to sign up to newsletters and follow the social media page of those websites to keep up to date on all the latest discounts and promos.

Be Green, Keep more Cash

Now is the time to cut back on your energy-consuming habits. When the weather outside is great, turn the thermostat down (or off). Before you leave the room, turn off the lights. Take shorter showers as well. By adopting these green habits, you save both money and the environment.

Money saved through cost reduction can go a long way. You can use it for emergencies or future travel plans, for instance. So, be sure to keep these money-saving tips in mind. You'll enjoy your student life more when you do so.