10 money saving tips for students

7 Sep, 2016

Thousands of students have now received their A-level results and for many it signals the start of university, which can be an expensive few years! But, while there are hefty debts involved, students can save the pennies elsewhere. Flubit’s Savings Champion, Carla Rio Alves shares her tips for snapping up the best deals, without damaging the bank balance

1. Get a student card

One of the perks to being a student is that you’re eligible for discounts in most online retailers and high-street shops. You can snap up even more discounts with an NUS Extra card. Although it costs £12 a year, you’ll soon make your money back with the 150 offers and discounts available.

2.Get discounts when buying the essentials online

Leaving home for the first time will mean you’ll need a heap of essentials from household goods to entertainment – the list is never ending. On top of this you’ll need the uni must haves including books and stationary. Don’t get caught out by paying over the odds, instead snap up bargains by shopping online through websites like Flubit.com – where you could save up to 15% on the original price you found at Amazon.

3. Attend Freshers Fairs

Make sure you check out the uni Freshers fair. Not only will you meet new people, but you can also pick up freebies, money saving tips and local discount vouchers too. At some fairs, retailers attend to attract students, so that often means even more offers and perks!

4. Check out student websites

There are many websites created solely for students. Student Money Saver, Save the Student and Student Beans are great hubs where you can find useful information on anything and everything student related from the latest offers and discounts to help with budgeting and finances.

5. Purchase a Railcard

At some point, like any student, you’ll want to go home and see your family – but doing so can be expensive. Make sure you invest in 16-25 Railcard, it’s designed for young people and gives you a third off of rail journeys across the UK. Although costing £30 a year, you’ll soon make your money back. The card also gives you access to offers and competitions, including West-End theatre discounts and holiday offers.

6. Don’t get caught out on bills

If you’ve never lived away from home before managing household bills can be daunting. Make sure you keep track of when bills are due to avoid incurring penalty changes from late payments. Also worth checking out comparison sites to make sure you’re not paying over the odds on your energy and electric bills. The money you save can be used on more exciting things!

7. Set yourself a budget

It may not sound exciting but it’s essential to set yourself a budget. You don’t want to be left at home whilst your friends are out having a good time just because you didn’t save enough money. Make sure you calculate both your incomings and outgoings. Once you know how much money you have left, you can spend it as you wish.

8. Join the gym, but without the hefty costs

Gym memberships can be expensive, so make sure to check out student deals or even better the university gym. Most gyms in university towns across the country will offer special student rates. Some will even offer a month by month contract rather than signing up for the entire year. It’s also worth checking to see whether your university has a gym that you could join – these tend to be much cheaper.

9. Find the best student current account

Now you’re at university, you’ll need to have a current account. Before making a decision, make sure you look around and open the account that meets your needs. Most banks have competitive deals, so don’t be afraid to ask what you can get. NatWest is currently offering students a National Express coach card, which gives you 1/3 off coach travel for 4 years. Santander is also offering a free 4-year 16-25 Railcard and an interest-free and fee-free arranged overdraft with its 1|2|3 Student Current Account.

10. Take lunch with you

While most universities will have a canteen and bars on site, buying food everyday will really eat into your budget. Make lunch and take it to class, you certainly won’t be the only person doing so.