In the UK, there are many students from a global level. As a student, there are many costs that are incurred, and they also increase the budget on a daily basis.
Many of the famous universities are in the UK. These universities are not only famous but have outstanding teaching faculty, student support, employability rates etc. Hence, many students try to apply to these universities in order to make a successful career.
Many people visit the UK for tourist purposes, if not as students. If you have a good amount of money, you can afford to roam around the city. Having financial challenges will make it difficult for you to have fun in the city and roam around.
As compared to other metropolitan cities, the UK is slightly expensive. For survival in the UK, saving money on different occasions is essential and making the most out of your budget.
Many tips will guide you to save money. You can look out for various online resources that guide you not to spend much money and instead save. For students living in London, it can be difficult for them to save money and fund their education.
Saving money as a student
There may be certain difficulties in spending money on education as it is an expensive city. As a student, there are many expenses such as travelling, education, food, etc.
For students who are living on rent, it becomes all the more difficult to pay their rent and cater to their other expenses. But to your rescue, you can save a lot of money on your expenses and lead a stress-free life.
The following blog will help you to save money in a normal way. Do not apply saving techniques and live a frugal. Instead, live a normal life and save money on your lifestyle and transportation wherever possible.
If they are still unable to save money, students can borrow a loan for bad credit from a direct lender. In the UK, this is a common source of funding. This money helps them to fund their daily expenses.
Money saving ways
1. Set your budget straight
Living in a high-end city is difficult as one burger costs around £15. If you have money in your pocket, you can buy anything and everything and enjoy your life.
But having money within the budget stops you and restricts you from buying different things and having fun. If you are surviving on £100 per month, you should consider the following things before spending your limited amount of money.
While you are budgeting, it is essential to budget your money in different areas. Paying rent is one of them. If you are staying in a rented place, you have to manage your budget accordingly.
Also, if you’re staying in student accommodation, it still requires spending money. In both cases, you can set up a budget of your mouth and then spend on your accommodation.
Groceries are an important part of your expenditure. It is not a luxury but a necessity. You have to spend money on your food and groceries, which can be tasking sometimes. There are many ways to save money on your groceries.
If you are going to the supermarket, do not buy expensive ones. Instead, buy affordable ones. You have to conduct proper research on buying affordable grocery items on a monthly basis.
2. Check your rented accommodation
If you stay in rented accommodation, you may be liable to pay the bills. For your accommodation, there are many bills such as water bills, electricity bills and other charges. These bills are also a necessity as non-payment of the bill can lead to the stoppage of services.
While staying in accommodation and with your friends, you cannot always sit at home. Hence outing is also an essential part of your weekends.
Do not spend much on your weekends and instead go for the calculated cost. You can set an allocation of a certain amount of budget for your outing so that your other essential things are not disturbed.
Where shopping is concerned, you can avoid shopping for some days. Only buy essential things such as clothes or footwear. Also, in these categories, do not buy expensive things. Look out for affordable alternatives that will save you money and time both.
Miscellaneous budgets are allocated to unpredictable things that may pop up at any time. Some money should be left spare because of these miscellaneous expenses.
Once you have calculated all these expenses, these will contribute to your monthly budget. You can also change the allocations as per the need and time.
3. Student travel cards
While studying in London, you may have to travel. You can make use of the travel cards such as oyster cards and contactless cards. You can get these cards according to your zones and save money on them.
These cards are given to Students at a discount. As a student, you can make use of such cards and make your transportation cheaper.
Oyster cards give you discounts on every trip. These are very famous among tourists and make your travel easy.
If you are using contactless cards, they are now being clubbed with the technology. You may have a contactless bank card, so you do not have to purchase the oyster card. This facility will automatically deduct the money from your bank account.
You can also get a real card that offers you up to a 30% of discount. Make use of these travel cards and make your travel affordable, timely and convenient.
4. Applications
If you are downloading applications, do not spend money on borrowing and purchasing forms. Instead, download applications from a centralized website. These applications offer you discounts on various things such as food, electronic brands, make-up, clothes etc.
Your university or college may also offer you discounts on different things. You have to check with your university about these discounts and facilities provided to students.
To fulfil your fee needs, you can also borrow direct lender loans. These loans are a profitable option for students.
5. Student Discounts vouchers
Many outlets and brands provide student discounts on various things. There are many clothes and footwear brands that offer specific discounts for students that is helpful for them to save money.
For example, H&M conducts a sale every year that is specifically for students. These sales help you to save money. You can get discount vouchers applicable to many brands and places along with sales.
6. Personal accommodation
If you are looking for university accommodation, you will be spending a lot of money. Instead, you can look out for personal accommodation and save more money on it.
Having personal accommodation will help you to stay in whichever way and can be economically beneficial for you. Select an accommodation that solves your purpose of saving money and living a comfortable life.
7. Cook at home
You may be fond of eating outside. Do not eat from outside too much and instead cook yourself. You can get groceries from the market and cook delicacies at home. If you’re cooking at home, it saves you money and time.
Conclusion
As a student, money becomes an important part of your survival. There are many ways to save money that you can follow. Do not spend unnecessarily. Keep your eyes and ears open and find out more ways to save money in future.
