Let’s face it, most students aren’t swimming in disposable income, so any hacks to help save a little money are always welcome. We use many of these tips and tricks ourselves, and when you add up the cost savings over a month or a year, you can pocket a decent amount. 

Here are 10 of our favourite ways to save money as a student.

Have a budget for your loan

For many first-year students that loan is the first large lump sum of money you’ve ever seen. It can look as if it might never run. But trust us, that money can be gone before you know it.

As soon as, or preferably before your loan arrives, sit down and plan how much needs to go towards rent and bills, how much needs to go towards food, and how much you can afford to put aside for an emergency. Do that, and whatever’s left is yours to spend as you wish. 

Cook fresh for yourself and others

Ready meals and pre-packaged foods will never be as cost-effective as fresh food. Even if a high-quality ready meal looks like a good deal, it’s one single meal. It’s worth buying fresh ingredients and cooking something which will feed you for a few days. Here’s a gallery of 28 easy weekday recipes from Epicurious to get you started.

Use online discount apps and extensions

Discount codes are often passed around under the table by marketing teams to friends and ambassadors, without ever being seen by the general public. Discount code-finding add-ons such as Honey will search the web for you, to try and find discount codes you might otherwise miss.

Become a brand ambassador

If you’ve got, or can build a decent social media following, then becoming a brand ambassador is a great way to earn a little extra money, whilst getting your hands on some free merchandise at the same time. Brands from GymShark to Red Bull offer ambassador programs, but loads of brands these days have something up and running – find something you’re passionate about and reach out to them. 

Buy your books second hand

If your course is one which requires you to make use of actual books, then always check out the ‘Used and new’ section of Amazon first, as well as eBay. Simple.

Ask the question

Service providers often have better deals out there, especially if you’re on a contract.  Think mobile phone operators, gyms, and any other subscriptions you’ve got.  Have you tried calling them up and gently letting them know that you’re thinking of leaving?  What about going through the cancellation flow online and seeing if they try to tempt you back with a better offer?  Don’t ask, don;t get.

Make a shopping list for groceries

Going food shopping without a list is a sure way of buying a bunch of random stuff you’ll never use. Take a little time to plan your meals beforehand, and shop to list, or else risk walking out of there with a tube of garlic paste, a can of water chestnuts, and a packet of beetroot-based sausages. 

Get a railcard

Most people are aware of the 18-25 railcard, which can save you up to a third on travel, but if you’re a mature student then don’t forget that the UK introduced a 26-30 railcard as well.  Use it to visit your friends at campuses around the country.

Invest your spare change

One of the easiest, lowest risk ways of introducing yourself to saving and investing, is to invest your spare change. There are plenty of apps around now which will do this for you, including Moneybox and Nutmeg.

They let you round up your purchases and invest the difference. For example if you spend £3.50 on lunch, the app will round that payment up to £4.00 and invest £0.50 on your behalf.

Learn how to haggle

This one works better in person or on the phone, as online prices are usually set.  If you’re willing to haggle on price, you can often convince local merchants to lower their price in return for repeat business or for buying multiple items. Here’s a little article on effective haggling techniques.  Be brave!

Want to write for us? We’re on the look out for great content, especially if you’re a current student in one of our locations (Exeter, Falmouth or Southampton).
Send us your idea at hello@acestudentliving.com