How to Save Money During University in the UK: A Comprehensive Guide
University life in the UK can be an amazing experience, but it can also come with significant financial pressures. Between tuition fees, rent, and the day-to-day costs of living, it’s easy to feel the pinch. But with some savvy planning, you can manage your finances and still enjoy student life to the fullest. Here’s your comprehensive guide to saving money during university in the UK.
1. Set Up a Budget (and Stick to It!)
The first step to controlling your finances is creating a budget. Break down your student loan, part-time income, or family support, and allocate it towards essentials like rent, bills, groceries, and fun. Free apps like Monzo and Emma make it easy to track your spending and set budgets.
Tip: Use the 50/30/20 rule – 50% for essentials (accommodation, bills, food), 30% for non-essentials (nights out, eating out), and 20% for savings or loan repayments.
2. Use Student Discounts Everywhere
Being a student in the UK comes with plenty of discounts. Always keep your student ID handy, or use student discount apps like TOTUM (formerly NUS Extra) and Student Beans to get deals on everything from clothes to food. Some examples of discounts include:
- Spotify Premium for Students: 50% off.
- Apple Education Pricing: Discounts on laptops, tablets, and accessories.
- Railcards: 1/3 off train travel with a 16-25 Railcard.
- Amazon Prime Student: Free 6-month trial, then 50% off Prime membership.
3. Buy Second-Hand or Rent Textbooks
New textbooks can cost a fortune. Save money by purchasing second-hand from AbeBooks or World of Books. Renting textbooks through sites like Perlego or Bookboon can also help reduce costs. If you no longer need a book after a term, consider selling it back or swapping it with fellow students.
Bonus Tip: Check if your university library has digital copies or reserved books to borrow for free.
4. Cook Meals at Home
Instead of blowing your budget on takeaways, cooking at home will save you heaps. Bulk buying and meal prepping can help cut costs. Budget-friendly recipe websites like BBC Good Food or Student Eats offer loads of cheap, easy recipes.
Pro Tip: Shop at budget supermarkets like Aldi or Lidl to get more for your money. Consider splitting the cost of bulk items with housemates.
5. Take Advantage of Free Campus Resources
Universities in the UK offer several free or low-cost services, so make use of them:
- Gym memberships: Many universities have free or low-cost gym facilities for students.
- Software: Get free access to essential software like Microsoft Office and Adobe Creative Cloud through your university.
- Career services: Use these for help with your CV, job applications, and interview prep.
6. Get a Part-Time Job or Side Hustle
If you need to boost your income, a part-time job can be a great way to manage expenses. Universities often offer flexible, on-campus jobs in student unions, libraries, or as research assistants. Alternatively, platforms like Deliveroo, Uber Eats, and TaskRabbit allow you to work on your own schedule.
Pro Tip: If you have specific skills, like graphic design or writing, try freelancing on platforms like Fiverr or PeoplePerHour.
7. Use Public Transport and Student Travel Deals
Avoid the expense of owning a car by using public transport. A 16-25 Railcard will get you 1/3 off rail travel across the UK, and many cities offer discounted student bus fares with apps like Stagecoach or First Bus. For trips home, use services like National Express and Megabus for cheap coach travel.
8. Look for Scholarships and Bursaries
You don’t have to rely solely on student loans. There are plenty of scholarships, bursaries, and grants available that you may not know about. Look for opportunities on platforms like Scholarship Hub or check with your university’s financial aid office.
9. Don’t Upgrade Your Tech
While it’s tempting to get the latest tech, you likely don’t need the newest phone or laptop if what you have still works. If you do need an upgrade, use student discounts from Apple or Microsoft to save. Or, buy refurbished tech from Amazon Renewed or Back Market for big savings.
10. Attend Free Events
You don’t need to spend big to have fun! Universities host loads of free or low-cost events like movie nights, concerts, and fairs. Follow your student union’s social media pages or check out sites like Eventbrite to find free events near you.
Final Thoughts
Saving money as a university student in the UK doesn’t mean missing out on the full experience. With careful budgeting, making use of student discounts, and using free campus resources, you can reduce your costs significantly. Remember, every pound saved is one less debt to worry about after you graduate!
