Bank Accounts
Now you’re attending a university, you’re eligible for a student bank account, which often comes with a tonne of benefits. These will vary from bank to bank, who can offer free railcards, NUS Extra cards, deep overdrafts among many other incentives, so it’s best to do some research and see which will benefit you the most.
The excellent Money Saving Expert have put a comparison together covering many of the student bank accounts on offer, so that's a good place to start.
Overdrafts
These allow you to spend more money than you’ve got in your bank account, sounds brilliant doesn’t it? And with some banks offering them at 0% interest up to £3000 it seems like a very tempting prospect.
However, this is still debt and won’t be interest-free forever, so it’s best you use it as emergency funding for essentials only and don’t become reliant on it. You’ll have to pay it off sometime!
Part-Time Work
Plain and simple, the more you earn, the more you can spend/save. First port of call should be the union jobs page, where we’ll post a variety of positions throughout the year, most of them conveniently on-campus.
Next take a look at Unitemps, who specialise in part-time work, internships and temporary jobs, i.e. a student’s dream.
Lastly, believe it or not, there will be tonnes of part-time work out and about, in the town centre or around the city, so just keep an open mind and give it a go!
Travel
Trains
If you’re a regular traveller, a railcard will pay for itself in no time. A 16-25 card is £30 for the year and saves you a third off all rail travel during that time: an easy decision.
Aside from that, just consider how quickly and in how much luxury you need to get somewhere. You might want to get there an hour earlier or in first class, but is it really worth 20 quid extra?
Cars
Cars are expensive, car insurance is expensive, petrol is expensive, but if you drive you already know this. Unfortunately there's not an awful lot you can do about it, but carpooling could save you and a few of your mates hundreds of pounds over the year. Just arrange a reasonable rate for petrol money and you'll be sorted.
Bus
Whilst not always the quickest way from A to B, buses are great value for money when your travelling by yourself. There's a great network around the campuses and students can pick up discount fares with many companies. First Potteries also offer frequent rider discounts, especially for students, which is ideal if you're commuting onto campus every day.
Walk/Bike
Walking's free, you don't have to spend a fortune to pick up a bike and both of them help you keep fit and healthy. If you only live a short distance from your place of study, it only makes sense.
Food Shopping
Cook Your Own Food
If you tot it up, the amount it costs to buy all the ingredients to make a meal is significantly less than if you were to buy the same meal ready-made from the same shop. You'll also probably get extra portions out of it and, once you've had a bit of practice, it'll taste better than the ready-made stuff. Just buy some pasta, sauce and cheese and take it from there, you'll soon pick it up.
Compare Supermarkets
Don't just default to whichever supermarket is closest, it's easier than ever to see which one is the best value for your weekly shop. mySupermarket is an excellent comparison site to use.
The Reduced Section
You'll learn to love your local reduced section. The grocery roulette wheel can offer bountiful variety on some days and very little on others, but it's always worth looking. Best chances of grabbing a bargain are at the end of the day when they clear out all the stock that's close to its 'sell by' date (but actually has nothing wrong with it whatsoever).
Retail Therapy and Days Out
Student Discounts
Although you'll get many more discounts with an NUS Extra card, you'll still save plenty simply by being a student. Just make sure you take your student ID with you. Topshop/Topman, for example offer a 10% discount and ODEON offer cheaper student tickets too. Ask wherever you go, because there's always a good chance you'll save a bit of cash.
Don't buy if you can borrow
Books are the main one for this: don't buy your entire course reading list! The physical library available to students is big enough, even when you don't consider the e-library you can access too, so before you commit to buying, check to see if you can't borrow instead.
Apply that ethos to everything, do you really need to buy something, or can you make do with borrowing it for a short period of time?
Living Green
Save Energy, Save Money
If you're living in a situation where you pay your own gas, electricity and water bills, making a few economical changes could save you thousands of pounds.
For example, turning your thermostat down one degree can save you up to £65 a year. It's that simple.
The union's letting agency at GreenPad makes this even easier for you by making sure all of their properties adhere to certain environmental and economic standards, such as energy efficient appliances and lighting, double glazing and insulation. They also make the house's Energy Performance Certificate (EPC) as available as possible for you to keep an eye on your efficiency.
NUS Extra Card
Do the Maths
Like any of the other discount cards we've mentioned (such as railcards and bus frequent rider cards), it's easy enough to work out if it's worth you spending the money short-term against the benefits in the long-term.
The NUS Extra card is probably the best bet when it comes to saving money these days, as it has almost every base covered. You don't have to spend a lot in the shops to see a significant return (although there's plenty on offer there), with discounts on subscription services like Spotify, restaurant chains like Pizza Express and even other discount services, like the aforementioned railcard.
Take a look at their website and see if it's worth a try: http://www.nus.org.uk/en/nus-extra/.
Everything Else
Don't Give Up the Student Lifestyle
Not everyone will agree, but the social and lifestyle experience of being at university is just as important as the academic side of things: it allows you to grow as a person, gain skills and have the best possible time during your few years with us. Don't think you have to sacrifice that to stay in the black. There are plenty of ways to adapt financially, some of which are listed above, but the most important thing is to just keep one eye on your finances and budget, because the last thing you want is money troubles ruining your time.
The Student Advice Centre
Unfortunately it isn't always a choice and some people will get into financial difficulties. If this becomes overwhelming, speak to the union Student Advice Team. They provide students with essential wisdom, as well as helping them to budget and ensure that they're not missing out on any money/schemes they might be entitled to.
Appointments can be booked via telephone at 01782 294629 or email at sac@staffs.ac.uk. The team are found in the students' union offices above the Ember Lounge.
To try and set up a budget yourself, check out their online finance calculator, made specifically for students: http://staffs.moneydoctors.info/budget/
