The Student Room Group
Dental Students, University of Central Lancashire
University of Central Lancashire
Preston
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Students: Cost of living tips

Saving Money at University ๐Ÿ’ธ

It's hard to know where to start when it comes to saving money as a student, here are some tips to help you with the cost of living:

Student budget calculators - There are some great online budget calculators like UCAS budget calculator and Save the Student's rent calculator that will help you save money and keep track of your finances.

Create a monthly budget - Firstly you will need to work out how much income you'll have each month helping you set limits to your spending. Once you've worked out how much money you've got coming in each month, you can work out where you'll be spending it.

As a student, you are likely to spend money on:
-Rent
-Bills
-Food shop
-Transport (Car fuel, insurance)
-Course materials
-Nights out
-Takeaways
-Social activities
-Subscriptions
-Personal care (haircuts and beauty treatments)

It's important once you know your monthly income to deduct your essential expenses (rent, travel, bills), this will leave you with how much money you've got to spend on non-essential things.

Money-saving top tips

Shopping second-hand - have a look on places like Facebook Marketplace and in charity shops for some second-hand home furnishings and kitchenware, you'll likely have big savings.

New love for old clothes - apps like Vinted and Depop are great for buying brand new and second-hand clothes for discounted prices. You can also easily sell clothes on these apps to make some extra money.

Student discount - one great perk of being a student is having access to amazing student discounts. Have a look on sites like Student Beans or Unidays to see which retailers are offering student discount, you'll find that many places do.

Discounted food - check out the reduced food aisle for some great bargains, you are likely to see more discounts during an evening shop. Freezing food is great for those items you won't eat in time, do remember to check it can be frozen, this will help you save money on future meals.

Our Content Creator Haya also has some great top tips to share to help you make the most of your budget!

[video="youtube;nz_XPYhg36E"]https://www.youtube.com/watch?v=nz_XPYhg36E[/video]

You can also visit our cost of living support hub to learn more!

What are your top money saving tips?
Hi everyone!

I'm one of the current students at UCLan and wanted to share some of my top money saving tips! Budgeting is really something I learnt the hard way at university but once you get the hang of it, it's a lifesaver!

Bank accounts
Shop around for different student accounts as many will offer perks like railcards when you first join up! I personally found
Monzo really helpful as I could have different pots to keep track of things like rent, fuel, money for food and money for socialising!

Discounts
Places like Unidays (or Blue light for the NHS discount) are great when your looking to buy anything from shoes, to clothes to things to make your flat feel a bit more like home! Whenever I'm buying online, I always double check to see if there is a discount code available!

Weekly bits & Cost of Living
I have my student finance set to come into one bank account and every week, a set amount goes on a standing order to my normal bank account - think of it as like giving yourself a wage each week! This really helps you to stop over spending and stay within a budget as things can quickly add up otherwise. I'm really lucky that Preston was recently voted the most affordable student city to live in as a student which has definitely helped when it comes to budgeting!

I hope some of these tips help and let me know if you have any below!

- Rebecca, 4th Year at UCLan
Dental Students, University of Central Lancashire
University of Central Lancashire
Preston
Visit website
Managing your money as a student can sometimes feel stressful.

To help you navigate this, Agneta has shared some advice on what you should expect to spend monthly on average as a student, along with some budgeting tips. ๐Ÿ’ท



Hope this helps, let us know any budgeting tips you have as a student. ๐Ÿ˜Š
Hello,

Budgeting as a student can be quite stressful, so when I am planning my monthly budget, I use the the 50-30-20 budgeting rules, where 50% of my income is for rent, bills, and necessities. 30% for wants like dining, spending time with friends ,and finally the last 20% is for savings like travelling, investment ,and buying things.

I also use apps like Goodbudget to track everything.

Here is a video, I made sharing my top cost of living tips :smile:

https://youtu.be/nz_XPYhg36E?feature=shared

Hope this helps,
Haya - MBBS5
We know the rising cost of living is a worry to many, and it's natural to wonder whether coming to university is a good idea in these difficult times ๐Ÿ˜Ÿ

To make the right choice for you, it's important to know what support is available for students, and to discover how fees and finance actually work ๐Ÿ’ท

Visit our website to learn more ๐Ÿ‘‰ Cost of living at university - UCLan
(edited 1 month ago)

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