What are the top tips to save money while studying in the UK
  • December 16, 2021
  • admin

What are the top tips to save money while studying in the UK?

The UK is one of the preferred cities by the students, and hence, there are many students from all around the world. As a student, many costs are incurred and daily increase the budget.

Many famous universities are in the UK, such as Oxford University, London School of Economics, Cambridge University, University College London, etc.

These universities are famous and have outstanding teaching faculty, student support, employability rates, etc. Hence, many students try to apply to these universities 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 in the city. Having financial challenges will make it difficult for you to have fun in the city and roam around.

Compared to other metropolitan cities, the UK is slightly more expensive than the other places. It is essential to save money on different occasions and make the most out of your budget for survival in the UK.

Some many tips and tricks will help you to save money. You can look out for various online resources that guide you not to spend much money and save instead. For students were living in London, it can be difficult for them to save money and fund their education.

Saving money as a student

There may be difficulties in spending money on education as it is an expensive city. As a student, there are many expenses such as traveling costs, educational costs, food costs, etc.

For students 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 like a frugal. Instead, liver normal, see in life and save money on your lifestyle and transportation wherever possible.

Many students borrow loans from private individuals that loan money in the UK, which makes them stuck in debt and keeps them from hand to mouth.

Money-saving ways

  1. Set your budget straight

Living in a high-end city is difficult as one burger costs around £15. You have to allocate your budget in such a way that it caters to all your demands. 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 survive 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 rented accommodation, 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 your month’s budget and then spend it on your accommodation.

Groceries are an important part of your expenditure, and it is not a luxury but a necessity. You have to spend money on your food and groceries that can be tasking at times, and there are many tactics to save money on your groceries.

If you are going to the supermarket, do not buy expensive ones. Instead, buy the affordable ones. You have to conduct proper research on buying affordable grocery items every month.

If you are staying in rented accommodation, you may be liable to pay 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 stop services.

While you are staying in accommodation and with your friends, you cannot sit at home all the time. 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 allocate a certain amount of budget for your outing so that your other essential things are not disturbed.

As far as 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 your money and time.

Miscellaneous budgets are allocated to unpredictable and may pop up at any time. Some money should be left spare because of these miscellaneous expenses.

Once you have calculated all these expenses, they will contribute to your monthly budget. You can also change the allocations as per the need and time.

2 – Student travel cards

While studying in London, you may travel to your university or college. You can use 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 use 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 use contactless cards, they are now being clubbed with the technology. You may have a contactless bank card, so you do not purchase the Oyster card. The money will be automatically deducted from your bank account with this facility.

You can also get a real card that offers you up to30% discount. Use these travel cards and make your travel affordable, timely, and convenient.

3. Applications

Do not spend money on borrowing and purchasing forms if you are downloading applications. 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.

You can also borrow loans such as payday loans, unsecured loans from direct lenders, etc., to fulfill your financial demands.

4. Student Discounts vouchers

Many outlets and brands provide student discounts on various things. There are many clothes and footwear brands that offer specific discount for students that is helpful for them to save money.

For example, H&M conducts a sale every year specifically for students. These sales help you to save your money. Along with the sales, you can get discount vouchers applicable to many brands and places.

These vouchers are also applicable to your emails. Hence, collect these discount vouchers and use them whenever possible.

5. 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 a person accommodation will help you 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.

Many people rent out their accommodation to students. For example, single mothers may rent out a place to you instead of borrowing loans for single mothers.

6. Cook at home

You may be fond of eating from outside. Do not eat from outside too much and instead cook yourself. You can get groceries from the market and cook delicacies for you at home itself. If you’re cooking at home, it saves your money and time.

An average meal from outside costs you around £27-£32. You can save these pounds on one time meal and cook it yourself.

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 the future.

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