Heading to university? Take note of these savvy student saving tips

Heading off to university? You’re going to need to sort out your finances.

Don’t stress – we’re here to help.

We got Beth, a personal finance educator who goes by the name ‘Budget Jones Diary’ on social media, to shares her best tips for students to save money as they approach the start of the new year. 

The chartered accountant, who has racked up 27k followers on Instagram, has made it her mission to share savvy tips to save the extra bit of money – especially with the rising cost of living crisis and inflation.

Here are some of her best tips for students starting a new semester at University this autumn.

Learn how to budget 

For many students, paying bills for the first time can be very overwhelming. While student halls often include bills in the rent, if you’re living in a house, then you’re going to have to get used to it. Not to mention the temptation to spend all your maintenance loan the minute it drops into your account.

‘The first step to being money-savvy is to have a simple budgeting system,’ Beth tells Metro.co.uk. ‘This is where you map out your income minus your expenditures and see how much is left over.’

Sinking funds 

There’s a lot of success in planning ahead. Start thinking about any major purchases coming up and aim to set money aside each month in savings.

Beth recommends Chase and Starling as ‘great apps’ to help you do this.

‘It’s a game changer for anyone’s budget,’ she says. 

Make the most of student discounts

Nowadays, you can find a student discount code for nearly every store on the high street and beyond. There are great websites that collate this information, such as UNiDAYS, who have exclusive deals on Apple, UberEats and more. 

‘Students across the UK are eligible for UNIDAYS membership and can sign up via UNiDAYS’ website,’ says Beth. 

Buy your textbooks second-hand 

You really don’t need to buy textbooks – university libraries are very well stocked and most textbooks can be accessed online through your University login.

However, if you really want to buy some, then Beth recommends using second hand retailers.

‘Books don’t have to be brand new,’ she notes. ‘Check out second-hand retailers including Amazon to buy your textbook second-hand on a budget.’

Check your eligibility for any extra funds

Don’t forget to see if you are eligible for any bursaries, grants, and or scholarships.

‘This of course varies from person to person so make sure to ask a Uni rep or check out your university’s website for more information,’ says Beth.

Use bill splitting accounts

There are plenty of bill-splitting accounts that work really well.

Beth adds: ‘Make sure you utilise them as much as possible, this can help you avoid the initial awkwardness of asking someone you don’t know very well to transfer you their half of the bills.

‘I would recommend giving Tricount a go.’

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