3 Money-Saving University Tips to Pass on to Your Students
You’ve mentored your pupils through their A Levels and they’ve secured a place at their chosen University. While it may feel like the important work is done, there are many more lessons to share (beyond the syllabus), that will prove valuable as they embark on university life.
Of course, factors such as making new friends and keeping track of deadlines will be high up on their list of challenges, but the biggest challenge of all for new students is learning how to budget and manage money.
Having conducted research on the spending habits of freshers, Currys PC World has put together an action-packed student guide to help look after the pennies, covering everything from how to be fit and healthy on a budget to dream holiday destinations that won’t break the bank.
Here are a few of their top tips for making money last.
Keep your food bill down
As one of life’s essentials, it’s simply not possible to avoid spending money on food, but there are ways to reduce the cost of your weekly food bill.
For starters, students should skip branded products in place of supermarket own-brand items and buy in bulk, as this is often much cheaper. The discount aisle of the supermarket is also great for snapping up bargains on food that is about to go out of date but can then be frozen that day for later use.
Takeaways may feel like a staple part of university life, but they can really set students back a chunk of their weekly budget. Cooking tasty homemade versions of favourite takeaway dishes or for minimal effort, snapping up a takeaway-style ready meal from the supermarket, are much more economic options.
Buy second hand
From course-books to clothes - choosing second-hand over brand new can save a huge amount of money over time.
Charity shops and vintage stores are absolute treasure troves for clothes, accessories and homeware, while peer-to-peer marketplaces such as eBay and DEPOP are full of bargains on top brands at a fraction of the price.
When it comes to course materials, it’s common for second-year students to sell on their first-year books for cheap. The university library may also stock the necessary books – though demand could be high if lots of students are after a particular title at the same time.
Don’t blow your budget too early
With furniture to buy and social events happening left, right and centre, there’s a huge temptation to go overboard on Freshers Week. In fact, according to Currys PC World’s research, Freshers Week sees students spending double what they would in a normal week.
This will only come back to bite them later, however, so it’s sensible for students to put a budget in place, to save themselves from running short of cash later in the term. There are plenty of apps available to help with budgeting, or even a simple Excel sheet will do.
For plenty more nuggets of money-saving wisdom, be sure to check out the full Savvy Student Guide.