This week I have another post around the topic of how to manage your money in your first semester of university with Future Finance. I've been at university for a while now and I really feel that I have learnt a lot of tips on this that I wanted to share.
For me personally it wasn't as easy I thought it would be to able to manage my money. I felt as if every supermarket offer or clothes sale was directed at me, haha. When in fact I didn't realise just how much money I was wasting on unnecessary things until I had no money left. As a student it is so easy to get caught up in all the offers. Hopefully some of these tips will be helpful to anyone starting university in the next few weeks!
1/ Get a NUS discount card: this little beaut will come in handy in most major shops, pubs and bars. So when you’re on nights out including Fresher’s week, make the most of all the money off you can get with this. The best thing about this little baby is it’s free, so you’ll be quids in, in the long run.
2/ Take out your money for the week: this is a tip I really wish I'd stuck to more often in my first semester. I use my card for absolutely everything and that's when I realise I overspend the most because I won't check my online banking in fear of how much money I've overspent by. Towards the end of my first semester I started to take out my money for the week so I wouldn't be able to overspend and it actually helped me to budget properly. This is a tip that I definitely recommend sticking to throughout your time at university, it's so helpful.
3/ Student shopping only events: because why wouldn’t you take advantage of this? most universities will have a student shopping only event within freshers week. There are so many offers and good discounts at these events that you feel less guilty for spending. I'd definitely suggest taking my point above on board because I remember spending far too much, oops.
4/ Save money on travel: There is always a lot going on in the first semester including Halloween and Christmas which a lot of students like to go back home for. Transport is not the cheapest of things and if you like to go back and fourth from university and home just to visit or commute the money can really start to rack up. That's why I suggest investing in a 16-25 railcard (mature students can apply too) for a third off rail fares or a young persons coach card for those of you 16-26 who are full time students for also a third off your travel. Even though you do have to pay for these cards it really helps in the long run.
5/ Become a spreadsheet master: planning how much money goes out, and when, will really be key in ensuring that you don’t touch that overdraft.
Do you have any tips on how to save in your first semester?