New academic year, new courses – new note pad, maybe? Student life is pretty much the best, we know. But, it can also be expensive… unless you put some containment mechanisms in practice. Here at Savewallets we have come up with the top 5 saving tips that will help you align your mind and schedule with a saving routine.
1. BUDGET is the key word
We will never get tired of this one. Budgeting helps you think of what you have, what you can spend, and how you can save. Once everything is written down, play around with that to make a plan. And most importantly, stick with it! Check out more info on how to work a great budget and its many benefits on our previous blog, The B@*!# word: How a personal budget will actually bring you peace (… and how to do it right).
2. Get your radar on for students’ discounts
Whether it is train tickets, clothes or food, there a lot of discounts available to you when you are a student. Check out UNiDAYS, for example. Are you in London? Request your Student oyster card here – do it as soon as possible to start saving considerably ASAP. Amazon offers a lot of benefits to students. Check them out here. If you’re a student you may be able to get a couple of decent freebies from Microsoft as well. Keep your eyes open for discounts and remember: when in doubt, ask! You might be eligible for discounts you don’t even expect. Just make a point of taking you Student ID with you at all times.
3. Think ahead: get your credit score going
It is never too early to start thinking “personal finance”. And getting started on a solid credit score is a big part of it. So think ahead! Registering to vote, building a credit score history, paying your bills on time – these are all ways to work on your credit score. Make of these a habit. Have a look at more Savewallet’s tips on Credit score: What it is and 5 ways to boost it.
4. Not a chef? That can change!
Eating out can be expensive, and might ruin a budget. So take this as a challenge and start “eating in”. Follow blogs and social media channels featuring endless number of easy, accessible recipes. Have a look at BBC’s Student recipes for some great tips to get started!
5. Open a checking account
Banks usually offer convenient checking and saving accounts for students. These are fees-free accounts. Do your homework early in the year and find the bank that better accommodates to your needs. Plus, make a point of avoiding overdrafts in your account. Keep an eye on it regularly. The Savewallets app notifies you when your account balance is low and gives great insights into your expenditure patterns. Sign up for it here and remain stress free! Plus, check for erroneous charges and make the necessary claims immediately if that is the case.
Ready to start thinking like a true smart saver? Good luck! And, since we all need to unwind from so much studying from time to time, have a look at the 5 great things to do in London – for FREE!