Money

Money is something that's on everyone's mind whilst at university. Students are renowned for their lack of money and their bargain hunting but being a student doesn't mean you have to struggle. 

Free Ben & Jerry's from a truck on campus... perks of being a student!

Student discounts

Almost all good high street stores, and some online retailers, will offer a discount on items bought from them if you have a student card. These might not seem like huge amounts off but they will add up and every little helps. Try and remember to use your student card when you buy something.

Sometimes local shopping centres have student only evenings, where these discounts are even higher than usual. During these times the shops can be packed but you can find some bargains, and it's a good time to buy those things you couldn't before because they were too expensive. 

Student bank accounts 

Most banks give you a special student account and come with different benefits depending on which bank you're with. Shop around for the best offer because each bank offers different rates, overdrafts & other benefits. 

When you sign up for your bank account ask what your overdraft limit will be. You want to have an interest free overdraft, even if you intend on not using it. I would suggest trying to avoid using it as much as possible, unless you know you can pay it back ASAP. Perhaps ask for a smaller overdraft limit of £100-£200 instead of the large £1000-£2000 ones that some banks give, to make it easier to manage. You can always request a larger one further on.

Try and find a bank that is close to where you are living or has a branch on campus. This will make it easier for you if you do need to go to the bank. 

Dividing your student loan

Maintenance loans are given in three large lump payments at the beginning of each term. It can be easy to then blow all that money at the beginning of the term, leaving with you nothing at the end of term! If you transfer your student loan into a separate savings account this allows you to then transfer money across either weekly or monthly, or when you need it, making sure you don't overspend. It also makes it easier to save some of the money, it's always nice to have money left at the end of term, remember you don't get money during holidays!

Mobile banking

Being able to check your balance on your phone wherever you are is very helpful and ensures you can keep an eye on your spending. It's always heartbreaking to check your balance at an ATM and find out that you have much less money than you realised. Being able to check it more regularly means you won't have a horrible surprise when checking your balance.

Mobile payment services/apps

The Barclays "pingit" app was a lifesaver for me! It meant that I could send money to my flatmates, if I owed them, without having to get their account details off of them, just by using their mobile number. It also meant that my dad could send me money if I needed it and it would be straight in my account. Perfect for emergencies. Lots of other banks also have similar apps so have a look around or ask at your bank to see what they offer. The Barclays "pingit" app is open for non-customers of Barclays too.

Freshers Fair

A lot of unis run fairs for new students during the first few weeks of term. Go along to these because you'll find lots of different stalls offering discounts, freebies and giveaways. They're a great opportunity to have a further look around your campus or student union and also showcase the local businesses & organisations. Plus, they save you money!

Finally, just be vigilant, as long as you keep on top of your finances you'll be absolutely fine. I found that I had plenty of money left over from my loan and I lived pretty comfortably! xx