Being a student is about living life to the full as cheaply as possible. That means getting resourceful. To help students make the pounds go further, TV Licensing has spoken to students past and present in order to put together this handy list of smart money tips.
1. Any old iron? Get online and sell stuff you no longer use
If your textbook is fated to gather dust on the shelf – why not head to Amazon to trade it in for a gift card. The same applies to your clothes. Rid yourself of fashion faux-pas at eBay if you think they're worth a buck or two.
Tip - If you need a textbook yourself – see if anyone around campus is selling them at a reduced price
2. Got a hobby? Turn it into cash
It might be your means of escape but often a hobby can be turned into a money-spinner. For example, one enterprising student we know is giving private skateboarding lessons in return for a handsome hourly rate.
Tip - check out www.swapz.co.uk's skill swap section to see the kinds of skills that are in demand
3. Going shopping? The more the merrier
For some, it's the first time you're away from home – so why not encourage your housemates to cook big meals together: it will work out cheaper than doing it alone. Preparing food at home is a great way to save money over the week, and there's no need to cut back on the ingredients you love if you budget correctly.
Tip – do a weekly shop online – you can keep track of what you're spending and it saves you heading to the store!
4. There's no such thing as a free lunch. But haircuts…
Some local training colleges will provide beauty treatments and/or haircuts for free. If you normally spend the best part of £50 each month on a haircut, this could be a great way to save money – although we understand there's a risk involved!
Tip – guys, get some hairclippers – they'll save you a fortune and you may even be able to charge friends for their use
5. You may just have arrived at uni but you seriously need to think about going home. Soon
Travelling home for a weekend or visiting friends at other universities can be a costly affair, but that doesn't have to put you off. Book your tickets as early as possible. There's also the 16-25 railcard that can get you up to a third off rail fares.
Tip – Check out www.blablacar.co.uk. If you have a car, you can offer seats to paying passengers, raking back a third of your petrol costs for each person you take on board.
6. Fancy a flight to a European capital? Don't forget to claim your TV Licence refund
If you buy your TV licence at the beginning of the term, make sure you claim one quarter back for the three summer months you're not in halls. This amounts to almost £37 – about the cost of a low cost air ticket to a city such as Berlin.
Tip – Set one calendar alert in your phone to buy a TV Licence as soon as you get to university, and another to remind you to claim the final quarter refund. You'll need a full three months remaining on the licence to qualify.
7. You're a student – you're entitled to cheap stuff
Now you're a student you're eligible for that all important ‘student discount'. NUS Extra cards cost just £12 for the year and open the gates to over 150 offers and discounts. Odeon cinemas offer 25% off tickets, while retailers like ASOS and Topshop discount student purchases by 10%. If they're shops you like – it might be worth investing in one!
Tip - Look out for special student events/lock-ins at clothes shops
8. Rock the own labels
Supermarkets' own budget brands may seem less cool but unless you're Jay Rayner you probably won't be able to taste the difference between big brand spaghetti and retailers' basic ranges. Do this and your cupboards will fill much more cheaply!
Tip – Toiletries in many discount stores are often more expensive than supermarket own brands - so shop around!
9. Budget – especially during the first weeks of term
With the student loan fresh in your account, your bank balance has never looked so good and you're positively itching to spend. But before you splash out sit down with a pen, paper and calculator and budget, budget, budget.
Tip – Check out www.moneysavingexpert.com/banking/Budget-planning for a budget planner template and loads of tips on living within one's means.
10. Got a spare jar? Use it
Look after the pennies and the pounds… is probably the best advice your nan ever gave you. Keep putting that spare change in a jar and it'll soon mount up.
Tip – Use a tin with a lock and leave the key at your parents' house. Use the money to treat them when you get home!