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All Students - Money Matters
10 Top Tips - to help manage your money
- Compare and save Money- for necessary purchases or when buying services you can use cashback sites which offer commission for using referral links, plus sometimes additional voucher codes. Always use a reputable seller you trust.
Price comparisons through Google are a good place to start to find the lowest price. Then see if the seller is listed in Quidco to get commission and use any vouchers listed on top.
E.g. search for a laptop model you like on Google. It might list Dixons as the cheapest seller. You check Quidco and it may have an additional % (e.g. 3%) cashback for buying through the Quidco link to the Dixons site, plus an extra discount code (e.g. 5%). Deals vary but it's always worth checking.
Price Comparison (e.g. "laptop") - google shopping
Cashback plus sometimes discount codes www.quidco.com, www.topcashback.co.uk
Student bank accounts - MSE - Top students accounts
Daily deals and discount codes- www.hotukdeals.com
Price reductions - www.offeroftheday.co.uk
Broadband - www.cable.co.uk, www.moneysupermarket.com/broadband/
You can see a summary of SAVING MONEY shopping at MSE
Free items - Freegle and Freecycle
- Prioritise – Set money aside or pay for essentials first (e.g. accommodation, food, club memberships, compulsory course trips, travel home)
- Save on Travel - Consider a Young Person’s Railcard; National Express Pass or a termly bus pass saves money
- Learn to Cook - this will save you a lot of money; bringing (parental) supplies with you or using low cost supermarkets helps. One survey that compared baskets of basic food supplies found a supermarket own label basket cost £3.89 compared to £14.11 for a branded basket - a potential saving of £10.22 per week.
- Be sociable, cook with friends - why not do this at the weekends to share the cost. Beware of take-away prices, okay for a treat every now and again but it adds up if on a weekly basis.
- Going out for the night? - Don't be tempted to overspend. Avoid the temptation to take your debit card with you. Take a sensible amount of cash with you, when it's gone call it a night. Leave enough to get home safely.
- Employment - The Careers Centre, LUSU Job Shop, Job Centre and local agencies can help with part-time work options. Be careful to balance this against your academic workload - don't exceed 12-14 hours! ....read more
- Keep track - Bank Statements - it’s important to check them regularly and keep an eye on any charges. On-line banking can help. Be sure to check your standing orders and direct debts. Check large items such as rent have gone out and keep a check on spending by budgeting where you have expenses, such as birthdays, due.
- Cashflow - stop spending more than you should by opening two accounts with the same bank. Have all essentials paid from one account (perhaps with an overdraft but no debit card access) and set up a weekly standing order for 'disposable spending' to the second account (with no overdraft) - you know when your balance is nil you can't spend anymore - for that week at least!
- Debt - keep debt under control. Don't be tempted to use store cards (interest rates can be 25-30%!) Credit cards can help if you have cash flow difficulties, but try to pay them off in full and don't take out multiple cards! ....read more
- Maximise income - make sure you're getting all the Government and University student support you're entitled to by coming and speaking to one of our advisors. If you have dependents or a disability there might be other Government help through the social security system which you could be eligible for, see the benefits checker on Money Saving Expert
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