Tips for Budgeting from a current student's perspective!

Being a student is a challenging task and being on a budget can prove difficult, not to mention that going out nowadays is quite expensive! However, there are some useful tips that have helped me stay on a budget as a student ambassador.

Once I get my salary, I write down my starting budget with a pen and paper to give me a better visual and reality check regarding how much money I genuinely have and this helps me not to go over budget. I have two accounts as well, a Lloyds bank account for sorting out my bills and a student Monzo account for going out and shopping. I make sure my bills, rent and groceries for the month are sorted out first and whatever is left over goes into savings and other expenses.

Some of the useful tips that have helped me on top of my expenses as a student is definitely cooking my own meals. It is cheaper and more convenient. I also have access to the school’s food bank which I visit quite often to help me save on groceries and budget accordingly. Another tip in regards to getting groceries is going to Headington shops and flea markets. On the whole, this tends to be cheaper as buying groceries and non-perishable items in bulk can save you a lot of money. Additionally, getting a Tesco Clubcard and a Nectar card is really important. It allows you to collect points and get groceries at a reduced price.

One useful tip that really helped me as a student was also making my own coffee or tea and packing a lunch to school especially when I know I will have a long day sitting in the library trying to study and finish my assignments. Making my own coffee has saved me a lot of money throughout the semester. That extra £2-3 daily adds up and can make one go over budget.

We would love you to share your top tips and how budgeting/managing your money has been for you since joining University!