Saving money during your studies: Top tips for students this term

Last updated: 14th October, 2013

student_budgetFor many students, money is tight. Trying to make the first instalment of student loan money stretch towards Christmas is a challenge, but it’s possible to pay for all the basics without having to make huge sacrifices. Saving a little here and there could make a big difference, but how? Here are some top tips for saving money throughout your studies:

Have more nights in

Nights out are great, but they’re often expensive. Staying in more often might sound dull, but you get to choose what you drink, what you eat and can chat without having to pay entry fees or pay over the odds for a takeaway pizza. You can even be inventive and have your own drinking games!

Use public transport instead of a car

A car might be useful for picking up the shopping and getting where you need to quickly, but cars are expensive to run, especially with the cost of fuel being so high. Getting the bus instead, especially in a big city, is much cheaper, as is getting the train if you need to go back home.

Give up expensive habits

Smoking is something that can be hard to give up, but given that it can cost hundreds of pounds a year, giving up can be useful for your finances. Even if you face peer pressure, quitting can give you an enormous sense of pride, and not just because you’re able to afford a few more drinks than them! offer two great calculators to see how much you would save by quitting and another that shows how much you have saved since quitting.

Buy second-hand gadgets and textbooks

As you might already know, brand new textbooks and gadgets such as laptops, tablets and voice recorders can be costly, but used ones which work just as well can be a lot cheaper. Going on a site like Amazon, eBay or Gumtree can help you find what you need for less in next to no time.

Buy in bulk before the start of each term

This is pretty useful if you plan to eat a lot of tinned foods like baked beans, chopped tomatoes and soup. Buying those in bulk as well as other essentials like toilet paper, pens, shampoo and soap at a cash and carry shop can save you and your friends a small fortune.

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