Money saving ideas

Here are a few ideas that you can apply to many different areas of spending.

• Don’t make impulsive purchases. Set yourself a time period to think about it, such as a week
• Shop around for the best price. Check the web too, as often the best deals are online
• Don’t be brand conscious. You will be paying for an image rather than the product value
• Use your NUS card to get student discounts
• Look for second hand items – you can make big savings by getting used books, furniture, sports equipment and even clothes

It’s easy to cut your food budget and still maintain a healthy diet.

• Plan your menu a week ahead and do one weekly shop
• Use a shopping list and stick to it
• Make your own lunch rather than buying it
• Take advantage of buy in bulk offers, but only if you intend to use the food
• Buy fruit and vegetables that are in season, as they will be cheaper
• Fresh food is normally cheaper than processed food (and healthier too!)
• Buying your fresh foods from the markets is often cheaper than supermarkets
• Look out for the cheapest brand
• Make as much as you can from scratch. For example, making your own salad dressing will be cheaper in the long run than buying it already prepared

You can save money by switching to cheaper suppliers.

• If you have never switched your gas and electricity suppliers, then you are probably paying a premium for your energy. Switch to a cheaper supplier and you could save up to £325 a year. Compare your bills
• You may be able to save on your water by switching to a water meter and paying for what you use. Can you save with a water meter?
• Need broadband for your studies? Make sure you are on the best value broadband package. Compare packages today
• Take advantage of cheap landline rates by using a supplier that offers low rates for the type of calls you make. Switch to a cheaper deal

Getting around or going on a holiday need not break the bank.

• Get an ISC card (International Students’ Card). You can often get discounts on flights, backpackers accommodation and travel
• Walk or ride a bike instead of taking public transport
• Try to get by without a car. They are expensive to maintain and run
• Resist the urge to take a taxi at the end of a night out
• Book holidays in advance to get the cheapest flights and stay in backpackers’ accommodation

Being sensible with your money doesn’t mean you have to be boring.

• Take advantage of free entertainment, such as free gigs on your campus and quiz nights
• Entertain at home with your friends. Get everyone to bring a dish to share
• Have picnics instead of going to restaurants
• If you like to go clubbing, get there before the cover charge starts
• Take advantage of the many free galleries and museums in London and other UK cities

Presents can be expensive but you don’t have to spend a lot of money to impress someone.

• Be creative. Make your own cards and wrap presents in glossy magazine pages. Your friends will be inspired by your originality
• Think of ways you can make someone feel special without having to spend a lot of money. Make your friend dinner for her birthday or make your boyfriend a CD of his favourite music for Valentine’s Day
• Most of your friends are probably students too. Discuss with them in advance the fact that none of you have much money and agree not to buy each other extravagant gifts