If you’re thinking of going to university, then here are some helpful ways to help you save money before you go.
If you have an Engage card with us, you can ask family members to put money on it for you. This is perfect if someone wants to give you a going away present! If you don’t have an account, you can sign up here.
How much maintenance loan you receive is dependent on your parents’ income, so it may be worth researching how much you’re likely to get so you can prepare your budget before you go.
Put an emergency fund aside into your savings. This can be done using our Wave Save account. Just put away a little money at the beginning of each month (before you spend it!) so you have some cash for a rainy day, or if your rent payment goes out before your loan comes in. Try to ignore the little voice in your head telling you to treat yourself every time you complete an assignment!
If you can, get in touch with your housemates, see if you can share items or go in together when buying things. This means you won’t have 3 toasters, and it’ll save you money! If you all get along, it’s a good idea to cook together and share the cost. It saves waste and it’ll be cheaper for you all.
Shop around for the best student bank accounts. Bonuses like a 16-25 Railcard can save on your train tickets home in the holidays, and an interest-free overdraft will be your best friend when faced with any unexpected or emergency costs. Have a look around and see which will save you most money in the long run. You can also sign up to our Engage account to earn up to 15% cashback at national and local retailers!
Don’t rush into buying your textbooks. Of course, they’re important and any extra material you have will come in handy for research, but on a tight budget we need to focus on the essentials. Once you’ve got a copy of your schedule/curriculum, find out which books you’ll be studying each week. Remember you don’t have to buy them all at once! It’s also a good idea to check out your university library and any online libraries you have access to. It’s surprising how much money you can save by doing this!
For more helpful tips, keep up to date with our latest articles here, designed to help you manage your money better.
