University Top Tips - Budgeting, Cooking and Shopping

Hey guys,

University can be a tricky time in terms of managing your finances. Getting to grips with how much you should spend and what to spend it on can all be a bit confusing. So, I’m going to dive in and give you my top 5 tips for budgeting, cooking and shopping whilst you’re at university.

TIP #1 - Make a weekly budget :scrooge:

First of all, make sure you know how much money you have to spend before your next loan, then divide that by how many weeks you have left. From here decide how much money you can afford to spend on different things e.g. food, bills, transport, clothes, leisure activities etc. The hard part now is sticking to the budget, make sure to be honest with yourself and really use your self control.

TIP #2 - Shop wisely :smartass:

It can be really useful to avoid any food waste by sharing foods which you may struggle to consume by yourself. For example, things like sauces, bread and milk may reach their use by date before you get round to finishing them, by sharing these with flatmates you save money and reduce food waste - it’s a win win!

TIP #3 - Plan your meals :reel:

At the beginning of each week it might be useful to write down what meals you plan to cook each day. If you make a portion for two each night, then you can use your leftovers for lunch the next day! Not only does this save you money but it also saves you time as well.

TIP#4 - Make use of discounts and deals :rave:

Whether it’s a railcard or a 10% student discount, there is no shame in trying to get the cheapest price! Even if you’re not sure if somewhere will take your discount, make sure to ask anyway!

TIP#5 - Treat yourself! :groovy:

Remember that as important as it is to keep track of your finances, it’s also important to treat yourself every once in a while! Whether it’s a takeaway or a new outfit, don’t feel guilty for buying something nice for yourself. You can also use these treats as a reward for how well you’re doing!

I hope this was somewhat helpful, remember that budgeting isn’t easy but it is beneficial! If you have any more questions make sure to drop them below.

Good luck,

Mia :biggrin:

Reply 1

FauxHydon

What worked for me quiet was creating a new bank account (Monzo). I put £50 on it every payday (weekly) and that's all I spend on food. If there is money left over, it carries onto the following week. If it gets over a certain amount, I move 2/3 of it into my savings account, rinse and repeat.