Interested in taking control of your finances? Here’s a list of our top tips for managing your money as a student.

Remember that lump sum of cash you started with at the beginning of Fresher’s Week? If your last penny has already depleted, and the only thing you can afford on your shopping list right now is a packet of pasta, don’t worry. Here are our top tips for managing your money as a student. 💡

1. Budgeting as soon as your loan drops, seriously 💸

We get it. As soon as you get that text saying your student loan is about to drop, it’s tough to ignore that little voice in your head screaming at you to treat yourself. It’s time to battle that temptation and be stern with yourself.

Save the pennies and set aside money for the essentials: rent, utility bills and food. Once you have the budget for these sorted, you’ll know if you can afford to go on that night out. (Psst, if you’re worried about varying utility bills, don’t worry. With Split The Bills, you pay the same price every single month – guaranteed).

2. Know your discounts 💳

One of the biggest perks as a student is the unbeatable. Student discount is available on almost EVERYTHING, so make the most of it.

Make sure to keep an eye out for discounts when dining at your favourite restaurants, buying new additions to your wardrobe or going to see a new movie at the cinema. Keep your eyes peeled to save your coin.

3. Time to hustle 💪🏼

Take the plunge and step into the working world (scary, we know!). By getting a part-time job, you could start earning a regular, reliable income to help pay for that university lifestyle (aka saying yes to everyone who asks if you’re going for a pint).

From shaking cocktails to selling clothes, there are plenty of different opportunities for you students to earn some extra money.

4. Coming for pre-drinks? 🍸

Yes. Yes, you are. Pre-drinking is one of the cheapest ways to have a good time whilst saving your cash. Avoid spending too much on a double vodka when you’re out by getting everyone together, drinking what you’ve got left in the cupboards and playing card games before hitting the club.

This way, you’ll already be tipsy before leaving student home and you’ll spend less when you’re out. (Just make sure you’re responsible with it).

5. Sell unwanted items 👗

Get rid of that dreaded pile of clothes in the corner of your room gathering dust. Rather than hoarding it, set up a Depop or Vinted account and get those items sold. You’ll be shocked at how much money you can make by selling things you no longer wan, so why not give them a new home?

6. Don't buy new textbooks 📚

We can all agree textbooks are (very) overpriced, so think twice before buying. Make sure you have a look online to find second-hand ones to bag a deal. Share textbooks with other students to divide the costs between you – or even source a few from your university library.

Be quick though, a lot of students rush to get their hands on these before seminars start. When you’re done with them, make sure to sell them to earn some extra cash.

With these tips under your belt, you’re sure to be better equipped at managing your money as a student. 💰 

Split The Bills is not a financial advisor. This should not be considered as professional financial advice. Do your own research & consult a professional financial advisor before making any financial decisions!

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