The UK is one of the preferred cities by the students. Hence, there are many students from across the globe. As a student, many costs are incurred and also increase the budget daily.
Many famous universities are in the UK, such as Oxford University, London School of Economics, Cambridge University, University College London, and many others.
These universities are not only famous but 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 a student. 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.
For survival in the UK, saving money on different occasions is essential and making the most out of your budget.
Some many techniques and suggestions will help you to save money. You can look out for various online resources that guide you not to spend much money and instead save.
It can be difficult for students living in London to save money and fund their education.
Saving money as a student
There may be certain difficulties in spending money on education as it is an expensive city. As a student, there are many expenses, such as travelling, education, and food costs.
For students who are 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, keep your liver normal and see in life and save money on your lifestyle and transportation wherever possible.
Money saving ways
As a student, try to follow the following ways and save money for a sustainable future.
- Set your budget straight
Living in a high-end city is difficult as one burger costs around £15. Create your budget in a way that 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 are surviving 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 living 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 a budget for your month and then spend on your accommodation.
- Work on your groceries
Groceries are an exclusive aspect of your expenditure. It is not a luxury but a daily need. You have to spend money on your food and groceries, which can sometimes be tasking. There are many tactics to save money on your groceries.
If you are going to the supermarket, do not buy expensive ones. Instead, buy affordable ones. You have to conduct proper research on buying affordable grocery items every month.
If you are on rent, 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 lead to the stoppage of services.
- Look for the right accommodation
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 set an allocation of a certain amount of budget for your outing so that your other essential things are not disturbed.
For shopping, you can avoid it 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 you money and time both.
Miscellaneous budgets are allocated to unpredictable things that may pop up at any time. Some money should be left spare because of these miscellaneous expenses.
Once you have calculated all these expenses, these will form your budget. You can also change the allocations as per the need and time.
- Student travel cards
While studying in London, you may have to travel to your university or college. You can make use of the 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 make use of 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 are using contactless cards, they are now being clubbed with the technology. You may have a contactless bank card, so you do not have to purchase the oyster card. This facility will automatically deduct the money from your bank account.
You can also get a real card that offers you up to a 30% of discount. Make use of these travel cards and make your travel affordable, timely, and convenient.
If you are downloading applications, do not spend money on borrowing and purchasing forms. 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, 5000 loan bad credit no guarantor, etc., to fulfil your financial demands.
- Student Discounts vouchers
Many outlets and brands provide student discounts on various things. There are many clothes and footwear brands that offer a specific discount for students that is helpful for them to save money.
For example, H&M conducts a sale every year that is specifically for students. These sales help you to save money. Along with the sales, you can get discount vouchers that apply to many brands and places.
These vouchers are also applicable to your emails. Hence, collect these discount vouchers and use them whenever possible.
- Cook at home
You may be fond of eating outside. Do not eat from outside too much and instead cook yourself. You can get groceries from the market and cook delicacies for yourself at home itself. If you’re cooking at home, it saves you 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.
As a student, money becomes an important part of your survival. Many students follow different ways to save money. You can analyze your fellow mates and check their ways. Do not spend unnecessarily. Keep your eyes and ears open and find out more ways to save money in the future.