The 4 step student guide to budgeting

We all know that being a student can be tight sometimes – between expensive rents, course materials and all those nights out, keeping in the black and budgeting is a struggle. Follow our quick, easy guide for a fail-safe way to not blow your loan all at once.

1. Get technical

Like pretty much every other twenty-something out there, us students are glued to our phones for everything- social media, calendar, music. Why not download an app to keep you on top of your finances? And don’t worry, these ones are all free- otherwise it would totally defeat the point, right?

If you don’t already, then mobile banking apps are great to always keep an eye on your spending and budgeting. Plus, you can transfer money easily to flatmates when you owe them for that post- club Dominos!

2. Be prepared to hunt

A vegan friend of mine only goes food shopping for fresh produce ten minutes before the shops close, and swears by it. Bagging yourself a load of reduced food can be a way to save on the cost, whilst not skimping on the quality. Cooking from scratch instead of expensive ready meals might take a little bit more effort, but you’ll end up with a far cheaper meal, and far more of it.

3. Set a budget and stick to it

All that dollar rolling into your bank account courtesy of the Student Loans company is amazing- but that’s for the whole term, not just for a month long credit card binge. Don’t do what a friend of mine did, and blow it all by October. Too ashamed to tell her parents, she survived through a diet of essentially anything she had left in her cupboards.

4. Work it out

Whilst you might not have enough time in-between your studies for a full on part time job, most universities are home to a whole array of casual work you can pick up as and when you choose. Helping out at university events, such as open days, normally pays well for minimum work. Getting a gig as an on campus brand ambassador can also help boost your budget, and help you get a head start in an industry you’re thinking of working in after graduation.