There’s no getting around the fact that student life is pretty expensive, but that is certainly not to say that there aren’t a number of simple yet effective measures you can implement to minimise the damage to your bank balance when you embark upon your studies. Taking into consideration what are generally some of the most expensive outgoings for most students, here are a few tips to hopefully get you into a more frugal way of thinking.
Accommodation
Rent is easily one of the biggest financial strains any new student can face. Flat-sharing with a group of friends, and thus splitting the costs evenly, is a simple way to make a decent property more affordable. It’s also well worth considering studying in your home city so that you could continue to live at the family home. It may not be deemed the ‘coolest’ solution when many are keen to fly the nest, but it is becoming an increasingly popular option given the rising cost of living.
Travel
Along a similar vein to reducing accommodation costs by staying at home, if you opt to study in your hometown, you eliminate the often regular and costly habit of travelling back and forth on trains to visit family and old friends. If you do move further afield, you could perhaps encourage your loved ones to take turns coming to visit you, rather than you always having to one to fork out for travel costs. Plus, when you do go home, you could try to do it less often but for greater periods of time, such as for holidays, long weekends or study weeks, rather than simply nipping home most weekends.
Course materials
Academic textbooks are often very expensive but you can’t avoid getting hold of them. It’s definitely worth checking if any graduating students are selling their old copies second-hand at an often greatly reduced cost. You should also make good use of the university’s library when you can – but get your name down on the waiting list fast, as books listed as required reading will be snapped up fast.
Socialising
Having fun is a big part of the student experience and you shouldn’t deprive yourself of it, but opting to have a few nights in instead of always heading out can save a lot of money throughout a semester. When you are heading out, always check which venues are holding discounted student nights and keep your student card handy – you never know where you’ll get offered discounts. If you don’t mind skipping the booze every now and then, you could also offer to be the group’s designated driver; not only are soft drinks much cheaper than alcohol, but many pubs and clubs offer them for free if you’re driving.
Food
We’ve all got to eat, but the reality of moving out of the family home and suddenly realising that the kitchen cupboards don’t restock themselves can come as a bit of a nasty shock. Bulk buying cheap store-cupboard essentials that can be adapted into a vast array of different dishes (like pasta, rice and pulses) is a great way to ensure you’ve always got something to fall back on. It’s also well worth getting into the habit of cooking your own as often as you can, as it can be all too easy to become reliant on costly takeaways, ready-meals and eating out once you’re into the busy swing of student life. Not only is fresh food often cheaper, it’s better for you too.
from Finance Girl http://www.financegirl.co.uk/how-to-cut-your-biggest-student-outgoings/
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