Katherine Freeman is an Msc Clinical Psychology student who below shares her advice on managing your money as a student.
On top of assignments, exams and lectures we also have to think about our bank balance. A bit like our motivation for lectures this seems to be depleting every day (some days more than others!). However, it may be a surprise to us how much we can change our bad money habits by making some very small changes to our week.
Here are some ways we can say goodbye to Mr Overdraft:
- The allure of the fresh meal deal
Yes you can get a sandwich, drink and snack for £3.50, but do know what is cheaper? Bringing your own lunch. Think of all those times you bought lunch on campus; think of all that money. So why not make a sandwich, take some leftovers or even easier, bring a tin of soup!
- “Let’s go out”
People are always going to suggest eating out, going out, doing things, and it seems like it is always someone’s birthday?? So sometimes spending money can seem unavoidable. However, setting a budget for the night or leaving your debit card at home so you are not tempted to spend more than you can afford is always a good idea.
- Domino’s or pasta bake?
Takeaways are tempting, so easy, so tasty……..so expensive. Nobody’s saying never order food again, but making sure your fridge and cupboards are fully stocked will lessen that temptation. Also, planning your week when you go shopping will mean there is always a meal waiting for you, even if you have to cook it yourself.
- Coco Pops or Choco Rocks?
When you do go food shopping, it doesn’t have to break the bank. Look for the deals, look for the reduced section, and look at the PRICE. Buying the store’s own brand items is usually ridiculously cheaper than the branded stuff. The question is, can you really taste the difference between Coco Pops or Sainsbury’s Choco Rocks? They do exactly the same job.
If we manage to do some of these tips this term, we may even save enough money to buy a few ice creams over summer!