This section is here to help you with anything money related. From how to save for that once in a lifetime trip to making the most of your money while travelling.
This blog post is aimed at giving you advice and tips, on how you can save money while being a full time student. A lot of people seem to think all students have to be poor, or have no money and can't afford to do anything. I'm here to tell you and proof that, that isn't the case. Yeah there are a lot of students that don't have money, or don't save money, and if you're happy with your life and the way you spend your summers, then great, no need to worry about it. But if you're one of those people that moans they can't travel over summer after 8 months at uni, because you have no money. It's time to muscle up, make it, save it and have a sick summer. Because it's more than possible.
So i basically managed to save £6000 for travelling over the summer after 8 months at uni, and here is just a brief overview of it all. I got minimum student loan which didn't even cover my rent, i was so worried when starting uni, that i didn't even think i'd be able to afford to live in London and study, so it was essential that i got a job to pay for my rent and food etc. My rent was nearly £7000 in total and my Student Loan was £5300, so i had to pay the rest of my rent, food and transport using my own money, plus save for travelling. Over summer i travelled to four continents and had the summer of a lifetime, and it's more than possible for you guys to do the same! So here's how..
Get a Job- First things first, you need to get a job. You can't expect to save for the summer unless you get a job. This is going to make up a lot of what you manage to save. My first tip is get a job that works evenings. This means you can study in the day and work in the nights. This is even better if it's in a bar or restaurant as you will be partying less as will be working friday and saturday nights, which means less spending on nights out. You could easily work 30 hours a week, 10 hours for 3 nights or 8 hours for 4 nights. If you earn £7ph that's over £6500 in 8 months.
Get a Job that Tips- Getting a job that tips can make even more of a difference to how much you save, you may not think so, but if you save it, come the end of 8 months, it adds up. Even more of a reason to get a bar or waiter job if you're looking to save money. If you work 3 nights a week and get just £10 tip a night that works out at nearly £1000 over 8 months, those few tips soon add up.
Get a Side Hustle- Get some side business or way of making money going, it could be anything, there are loads of ways of making an extra £100-£200 a month. Buy and sell stuff on ebay, buy stuff from charity shops and sell it on ebay or amazon, buy alcohol in bulk and sell it at your uni halls, teach people something, clean the students rooms. There's loads of easy ways to make additional money. Just that little extra a week can easily add up to £1000-£2000 over your uni year.
Cycle- Instead of using public transport, cycle or walk. This can end up saving you a hell of a lot of money. Especially if living in a city like London where public transport is extortionate. Costing nearly £5 for a return on the tube, even if you just cycle 3 times a week, that saves you £15. Which over 8 months is a nice little £500. That's a week away, or a long haul flight, just because you cycled a few times to class.
Write a Budget List/Plan- This is another essential one, once you get to university, write yourself up a budget plan. So how much you plan to spend each month on food, transport, rent, going out etc. Then work out how much you earn and you can figure out how much you should be looking at saving by the start of summer. This helps you save as you can stick to how much you should be spending each week. You can also set yourself a target and give yourself something to aim for.
Stop Living for the Weekend- This is a big one for me, if you enjoy going out every weekend and spending loads on nights out, great, keep doing you. But if you're moaning about having no money and at how you can't travel over summer, then quit living for friday and saturday nights. Just go out say once a month rather than 2-3 times a week. You'll save yourself a shit load of money. I'm not saying don't go out and party, because of course everyone does, and we all want to have a good time. But if you want to have that insane summer where you can travel the world, cut it down and stop moaning about how you have no money. And as mentioned before, an easy way to sort this is get a job working in a bar at weekends.
Make Sure to Claim your Tax Back- A lot of students don't even realise that we can claim our tax back at the end of the financial year. Billions goes unclaimed by students every year, simply because they don't know about it. If you're not being taxed cool, but if you are and you've been working and being taxed for 8 months, that's easily another £500 you can get back.