Click here to go to the main StudentGems site

Wednesday, 29 August 2012

Saving money and budgeting


The ‘A’ level results are in and you’ve made it, you’re off to university or you’re an old uni hand getting ready for another year of academic study. Whatever the case, you’ll need to fine tune your finances and know exactly what you’re spending. Fortunately there are plenty of ways to save money and plenty of tools such as the StudentCalculator to help you plan your student budget.

If you’re moving into independent accommodation, you’re likely to be footing the bills for utilities such as gas, electricity and water. You’ll be signing off an inventory and one of the first things you’ll need to do is record the gas and electricity meter readings. You don’t end up paying for the last tenants love of long steaming baths or four thousand baked potatoes!

Whilst it does sound tedious, you should always compare electricity prices to make sure that you don’t end up over paying. It’s easy to do, only takes a few moments and using an online electricity comparison such as the Energy Helpline website you could instantly save money with a few clicks of your mouse. Energyhelpline.com is a price comparison website that compares all UK energy providers. Students can use it to find cheaper electricity and gas plus save you lots of money. Once you have decided which provider gives you the best deal, all you have to do is ring them and they’ll do the rest.

Once you’ve saved a shed load on your utility bills, there are some other tips that you could consider to make your money go further:

  • Before taking out any expensive insurance to cover your personal possessions, check to see if you’re covered under e.g. your parent’s insurance policy. Also check to see what exactly is covered – will your laptop, phone or iPod be insured? If not, use an insurance comparison website to get the best insurance deal.
  • If you’re going to travel round the UK to see friends and family, then why not buy a Student Railcard? You could save up to a third on each journey and if you plan ahead of time, you could save even more. Then there is the Megabus which has incredible deals from as little as £1 but you have to be very organised and quick to benefit.
  • Another thing you could do is to try getting used to watching catch up TV because that way you don’t need a licence. You only need one when you watch or record at the same time as a programme is being aired. However this does come with a word of warning because if you are going to watch live TV on any device such as a mobile, laptop or PC, then it is a legal requirement to be covered by a TV licence.

These are just a few money saving tips but with some care, time and planning you really will be able to make your student budget go further!

1 comment:

Save as much as you can said...

We should save as much as we can.. you never know what the future will bring