AS exciting and fun as university can be, financial worries and stress are taking a huge toll on students who are in need, more than ever, of money saving tips and hints.
In recent years, there has been a rise in depression seen in students which has been contributed to largely by financial issues.
Savethestudent.org conducted a survey that found that 78% of students that took part think student finance does not provide enough, with also 80% of students worrying about making ends meet.
Salford univeristy has its own budget calculator that helps students split up your income daily, weekly and monthly so you know exactly what you can spend and on what.
To prevent working yourself up over money problems, here are some money saving tips and hints that may help you:
- Firstly, girls, pretend you’re interested in a product and ask for free samples! They last longer than you think.
- If you live in a house where the bills are not included, keep an eye on your electricity. If you’re not using a light or an appliance, turn them off. Every little helps!
- Stay away from big name shops like Tesco; you’ll get exactly the same stuff for half the price from Aldi. (Aldi lovers’ guide to shopping on a budget)
- Skip the expensive beauty products and make your own; these DIY face mask ideas will save your life!
- Commuters; get a 16-25 railcard to make your train journeys cheaper. Top tip: if you have a Santander account, you get a free railcard!
- Try washing your laundry in cold water instead of hot; it reduces the energy by 50%. Also, air dry your hair instead of using a dryer if you can to further save energy
- Unsubscribe from emails selling you things – you do not need that jacket from ASOS that has 20% off today
- And finally, be aware of your overdraft. Many students do have an interest free overdraft to a certain amount but once you’re over the limit, it costs you more the longer it takes you to pay it back
- Keep unnecessary luxuries like cigarettes and take-aways to a minimum; they’re both pretty bad for you and they cost an arm and a leg
- Go to the magical world of the pound shop, you’ll never know what hidden cheap treasures you’ll find in there
- Use your student card to your advantage and ask whether they do discounts; you don’t get if you don’t ask
- For those who go out a lot and refuse to be an ‘outfit repeater’; rather than buying new clothes every time, swap and borrow outfits off your friends who are a similar size to you
Hopefully these simple ideas will assist you in saving some money during the financially difficult times. It’s important to enjoy university, but at the same time live within your means. Have a try at these techniques and you never know how much you’ll save!
On this audio clip, students give advice on their personal money saving techniques:
By Niamh Shackleton