Thursday, 11 May 2017 09:32

Starting university in September 2017? Here's some nifty money ideas to make sure you are maximising your pennies

Are you starting university in the next academic year? If the answer is yes, you are probably worrying just as much about managing your finances whilst you are there as you are about undertaking your chosen educational course.

We’re not going to lie, being at university is one of the hardest times of your life with regards balancing finances, whilst at the same time getting a real feel for the student lifestyle.

But with a few nifty little tricks and know how’s with regards how to spend and save money it should mean that the balance is just right between money spent and having a good time.

Once you have got your tuition fee loan application out of the way, and have applied for your maintenance loan which will help you out with every day running costs, you may think that that is it and that finances are in place. You’d be wrong.

You will need quite a bit of money behind you when it comes to setting up for student living as well. Buying things such as bedding, pots, pans and TVs doesn’t come cheaply but nevertheless they are all necessities.

Be savvy though and don’t blow a fortune on these things before you have even had chance to settle in. You could ask parents and grandparents to help you buy these things. Of course it is important, especially at university, to begin to stand on your own two feet, but equally if there is help available you could utilise it in the best possible way.

In the birthday and Christmas on the run up to you going to university, rather than the traditional presents being given to you from your loved ones, you could ask for university essentials such as cookware and bedding. This would help you out no end and would also mean that the money you do have could be saved for when you need it the most.

You could also ask for vouchers for department stores so that you can get clothes or other essentials as and when you need them. Vouchers are particularly good to have because you don’t have to be in a rush to spend them.

If someone bought you a travel card for a year that could also be a big help. You may think that asking a relative for a contribution to a transport pass isn’t very Christmassy, but it will help out no end and will save you countless amounts of pounds from your everyday expenditures.

At university you have to be really frugal with your cash. And with this in mind, the year leading up to university should be the time where you think about what kinds of changes you can make to your lifestyle that will make you save the pennies.

Obviously you need to get a realistic budget in place with regards to the expenditure you expect to see week on week. You need to be looking at all student discounts and vouchers available to you and you need to be looking at changing contracts such as mobile phone deals to ensure you are getting the very cheapest deal around.

As they say, every little helps.

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