Reducing Student Outgoings
There are many ways for students to save money, even on essentials. As a student you are exempt from paying council tax on the property you live in, see Council Tax Exemption. You are often able to take advantage of special deals on insurance, such as cover for your valuables, see Student Possession Cover, and can open a student bank account, see Student Accounts, to manage your finances whilst avoiding heavy fees.
When you arrive at university you may be given the chance to sign up for special offers such as an NUS card. Many universities are associated with the National Union of Students, and students can buy an NUS Extra card for £10; this supports your students' union and entitles you to student discounts. Currently an NUS card entitles you to discounts with more than one hundred retailers, such as 5% off Amazon purchases, 10% off clothing stores including Warehouse and La Senza, and many more individual offers such as 20% off Rough Guide travel guides and 30% of glasses and contact lenses at Vision Express. For full details of the card and discounts, see www.nus.org.uk.
Most universities have a 'Freshers Fair' which offers new students the chance to sign up for sports and hobby clubs, and get details of student offers from insurance companies, banks and local retailers. Make sure that you look out for deals that will benefit you and save you money. Often local gyms will offer student specials that allow you to become a member for a significantly reduced price.
Accommodation
Make sure that you consider the best deal for accommodation. Although student halls of residence are sometimes more expensive than renting a room privately, the rent usually includes utility costs or even extras such as possession insurance and internet connection. Self-catered halls of residence are often a good cost compromise.
Groceries
It is important to shop around if you want to find the best deals on groceries. Before you go food shopping, make a list of the items you need, and a note of how much you can afford to spend. Keep a rough running tally as you add things to your trolley, so that you aren't surprised when you get to the checkout. Supermarkets often have special offers on products if you buy in bulk: split the deal, and the cost, with a friend or housemate. Look out for cheaper fruit and vegetables by buying in season, and check for 'buy one get one free' and 'three for the price of two' offers on items you need.
Travel
Make sure that you research the cheapest travel deal as well: many local transport networks offer student deals that reduce the cost of travel cards. Travel can be expensive, so it is important to research the cheapest ticket options to suit your timetable and travel needs. Usually it will prove cheaper to buy a weekly or monthly travel card for the local buses and/or subway network. However, if you live near campus you may not need to use public transport very often; it may be cheaper for you to buy individual tickets as and when you need them.
Books & Equipment
Books and course equipment can make up a large part of a student budget. Check online retailers such as Amazon for book prices, and enquire at the university book shop about upcoming sales. Many students will try and sell their course books when they no longer need them; faculty, students' union and hall of residence noticeboards, the student newspaper and notices in the bookshop are all good places to look for books for sale. Some universities even have second-hand bookshops which sell earlier editions of course books and copies from previous students; alternatively, charity bookshops near campus may stock copies of syllabus texts.
Clothes & Entertainment
Clothes and entertainment form an important but flexible part of your budget. If you are on a strict budget, you can reduce your expenditure in these areas to keep out of debt. Some universities host clothing sales, and most retailers who operate near to universities will offer student discounts. Charity shops and high street sales are popular places to find inexpensive clothes and shoes. Most university towns and cities will offer entertainment options that are suited to the student budget. Look out for student nights at bars and restaurants, student discounts on food and drink, student-rate cinema, theatre and concert tickets and special offers on sports tickets and gym membership.
For more details of expenses and money-saving tips, see:
