One of the main stresses we see amongst students here at DIGS is financial worries. It’s essential to student life that your home environment ticks all the boxes in terms of location, comfortable interior and affordability and sometimes getting the right home does mean pushing your budget. But the last thing you want to be doing is spending your time at University always wondering if you’re going to be having beans on toast for dinner again!
Therefore, it is worth thinking about ways to make your money last so we’ve compiled a few of our top tips to get you started.
If you’re eligible for student loans and funding, receiving lumps sums at the start of each term can certainly seem like a lot of money. But making it last throughout the year can actually be quite difficult.
In fact, according to Which?, 4 in 10 first year students said they found managing money trickier than they had expected. Research also suggested that 15% of students are struggling financially.
- Keep track of your outgoings, see where your money is actually going and work out when you can save if you need to. Once you start snooping on your own expenses you’ll see that there’s more to your spending than rent, food, and perhaps stationery. Try investing a bit of time in meal planning, bulk cooking and take packed lunches to avoid spending every day.
- Be resourceful. Depending on your course you may find yourself with a list of materials and books that you need. Use the library and connect with other students through university forums to find second-hand supplies.
- How are your travel costs? Have a look into lift shares with your fellow classmates.
- Make the most of your student discounts! Yes, spontaneity is the spice of life but it doesn’t always work well when you are trying to budget. With student specific discount websites such as NUS Extra and Student Beans, being social doesn’t have to be expensive.
- Don’t panic – there’s always a way out, save those overdrafts for times when you really need it. Think about getting a part time job, even one shift a week is enough for the weekly food shop. DIGS are always on the lookout for well-presented students to help show our properties. Over 50% of our viewings are carried out by existing students.
More Help and Information
The above list is just a handful of possible solutions to help you budget and consequently manage your finances. If you’ve come across any additional tips that you think are worth sharing, we’d love to hear from you. Like us on the Bristol Digs Facebook page and drop us a message.
Take a look at our previous blog post here and discover a wealth of deals on cheap days and nights out including theme park tickets, cinema, theatre trips, and eating out.