In this article digest we share with you our top tips to save money as a student in the UK:
Budget well
Don’t run out of cash, always keep extra for emergencies, and do your best to avoid overdraft and interest rates. Getting into debt is a bad habit that can last a lifetime. So, do yourself a favour and stay away from it. You can overcome the desire to spend by prioritising your spendings and planning ahead. If you manage to have some savings, out them on an ISA bank account.
Live on the cheap
It is ok to buy second-hand books and furniture, live in a slightly old house or share kitchen and bathrooms, and stay in hostels when you travel. It is ok to be frugal where you can. This is expected of you as a student, so enjoy living on the cheap.
Embrace minimalism
If you don’t need it, don’t get it. Clatter means less money to use on the important staff, more time clearing and cleaning, and when you travel, you will always have the burden to leave your staff with someone else or pay for storage.
Get part-time jobs
Most courses allow students to work for up to 20 hours per week during term time and this is not restricted to on-campus employment. You can also work during the holidays and apply early for paid summer internships. If you don’t have experience on your CV, it is ok to start with small jobs, so don’t be picky. You will also meet people and gain experience and responsibility, so it is a win-win-win for you.
Get student discounts
Full-time students from all over the UK receive a 30% discount off standard tube and bus fares with a Student Oyster Card if they have a National Rail Card. Other student discounts are offered in many places from shops, restaurants and cafes, technology devices including the Apple Store, media subscriptions, travel, outings, to museums and exhibitions, the list can go on. You can additionally get a discount card or program such as TOMTUM, UniDAYS and Student Beans.
Get some free staff
Many banks offer student incentives such as free railcards, Amazon vouchers and Apple gadgets when you open a bank account with them. You can also get free staff in events in the university student union or from recruiters who come to promote companies interested in graduates for their work force.
Always read contracts
If you are outside the university accommodation, and you are living in a landlord house sharing with other students, make sure you read the contract and that any deposit you give are protected. Also, make sure your university is aware of your address, as universities tend to check landlords’ houses rented to students to make sure they meet the standards of living.
Get scholarships
Thought might not be as easy as the other items on the list but check if you qualify for any scholarships or funding and apply when you can. the worst that can happen is that you don’t get it, but you won’t lose anything. There are many resources that list available scholarships on the web. Many are dedicated for international students, and some scholarships are for specific country of region. Postgraduate degrees are more popular for funding as they tend to produce research on specific areas that is usually of interest to the funding entity.
If you are interested to learn more about education in the UK, read our articles: How to Get the Most out of your University Days and The 13 Tips Guide for International Students: How to Settle into your British Education Lifestyle
For specific questions on tips for students to save money in the UK, why not book a consultation with us.
