Budgeting tips for students in the UK (and not only)

Are you heading off to university? These are the 5 most important things you need to know if you don’t want to end up broke two weeks into your degree: 

  1. Get a part-time job Many jobs require no prior experience. It is very common for students to work as bar staff, restaurant staff, shop assistants. The best thing to do is to apply before you go to university, so that you are ready to go as soon as you move in (or as soon as you become sober again after freshers’ week). However, if you don’t want a typical student job and if you would rather work for home, there are many opportunities online. These are becoming increasingly popular considering the ongoing circumstances. Some websites we recommend are www.indeed.com, https://targetjobs.co.uk, https://www.studentjob.co.uk/work-from-home-jobs, or even LinkedIn. At Teachy, as we will be expanding soon, we will be offering a limited amount of internships and we are planning to keep our best interns on our team, so watch out for that! 
  1. Use your student discount wherever you can  Always ask for a student discount! You have nothing to lose. Some places don’t advertise a student discount and you rarely know about it, but you might end up with a nice 10% off. This is especially helpful when you treat yourself to a pair of shoes or when you shop at the same place regularly. Long term, this is going to be the ultimate money saving tip. If you travel by train or public transport often, getting a railcard or some sort of public transport discount will save you a lot of money!
  1. Open a separate bank account for university We think it is necessary to open a separate bank account for university. If you are going to university abroad, this is a must. Otherwise, it will be very difficult to transfer money when you need to, or to pay for necessities such as rent, or even a gym membership. Even if you already live in the UK, it might be best to open another bank account for university, because this way it is a lot easier to do your budgeting! We personally recommend a Monzo card, because it does all the budgeting for you and it is really easy to transfer money and split bills with your friends, if you have to.  
  1. Shop at Aldi and Lidl instead of Tesco and Sainsbury’s We know you really like the Tesco hummus. However, sometimes in life you have to say “no” to that. Shopping at discount supermarkets will save you so much money in the long term! You might not realise it, but even though there is a small price difference between these stores, it adds up throughout the year! So, if you wanna have more money for the usual student pleasures like going out or drinks for pre’s, say “yes” to that Lidl hummus. 
  1. Don’t be afraid to say “no”  Even though you are probably  tempted to go out every time your friends ask you so, don’t be afraid to say “no”. If you really want to hang out with your friends on a certain night and you know you can’t afford it, the smartest thing to do is to go to pre’s with them (just bring with you a bottle of wine or some beer). Don’t be sad about it. You will definitely be more sad if it turns out you can’t pay your rent that month because of one night! 

That’s it! Follow these and we guarantee your student life will become easier instantly! Come back to our blog for more advice created by students, for students.

Email contact@teachy.ro Hours M-F: 9AM-7PM
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