Student Finance Top Tips

Foreign Students's picture

With today being one of the best days of the year to save money, with shops slashing their prices for Black Friday, we thought we'd bring you some top tips to help with your student finances. Below you can find easy ways of making extra cash, the best ways to save money whilst shopping and some top tips to make your budget go further.


Make Some Extra Money

  • Get a part time job: Many students get a part time job to help fund their studies. Working at a bar or restaurant is often fairly well paid and even just one shift a week can make you £50 or £60. However, not only will it earn you an extra bit of cash, but it can be a great way to make new friends and practice your English. If you're interested, have a look through this directory of part time jobs for students
  • Sign up for studies: If you feel like you can't commit enough time to a regular part-time job, then signing up to take part in surveys or studies can be a great way to earn a little bit of extra cash. One good example is the Behavioural Research Lab at London Business School. Simply sign up and they will tell you about studies you can do as often or as rarely as you like. Then you just have to commit less than an hour to each session and you can walk away with £10 there and then. For more information and to sign up, have a look here


Save Money on Essentials

  • Compare food prices: Buying food is something every student has to do however poor they are. It can get quite expensive, especially with prices rising all the time. One way to save a bit is to compare the prices between the different supermarkets. In the UK there are several big supermarkets and it is well worth comparing the price of your weekly shop at each one. Check online at Asda, Sainsbury's, Mark and Spencer and Tesco. 
  • Get the cheapest utilities: Utilities are another expense that is unavoidable and quickly adds up. Just like food, you should shop around and compare the different prices that different companies offer. There is a website called uSwitch that allows you to compare the companies and find the cheapest options for you, and can save you up to £420 a year. 


Make Your Budget Stretch Further

  • Get a good currency conversion rate: A really simple way to make the money you do have stretch further, is to make sure you get a good rate of conversion. Whenever you are exchanging money, if you have time, see how the rate is changing from day to day and wait until it works in your favour best. Equally, different companies offer different exchange rates. Travelex (click here) guarantee the best currency rates online, making them a good choice.   
  • Set yourself a budget: You should try and set yourself a weekly budget, which will make sure you spend as little as possible on the essentials, leaving you a bit of extra cash for going out for treats. Work out how much you can afford to spend overall each week and then take a little bit off just in case. Split what you have left into different categories (food, rent, book, travel etc) and make sure you stick to it.


Share with friends