Budget-Friendly Living: Student savings strategies

• Author: Eva Martin, Pharmacy MPharm, School of Applied Sciences

For many of us receiving our student loan payments, it’ll be the first time in our lives we’ve ever had that much money. However, with the new found freedom of student life, all that money can end up getting spent surprisingly quickly, especially with cost of living affecting us all. To ensure  that you’re able to get the most out of your time at uni, here are a few useful money saving tips:

Saving on the bills

When living away from home, house bills tend to become your largest monthly payment other than rent. Particularly in winter, when you want to stay warm and cosy, gas and electricity can end up costing much more than you originally planned. Here are my top picks for saving on bills without sacrificing on comfort:

Inclusive bills packages?

Inclusive bills may be convenient but they can end up costing more than splitting the bills. The convenience of not chasing your housemates for bills money or being able to blast the heating whenever you want may be worth it to you, but if saving money is your top priority, splitting bills yourself is something to consider and be aware of.

Air fryers and slow cookers

Air fryers and slow cookers are much cheaper to run than an oven as you’re heating a much smaller space and they use far less energy. If you put your slow cooker on in the morning, you can forget about it all day and by the time you’ve finished studying, dinner will be ready!

Air fryers are also so versatile and you can find loads of good budget friendly recipes and inspiration on Instagram!

Study spots on campus

There are loads of communal study spaces on campus and in the Students’ Union that are warm and set up for working. Sometimes a change of scenery away from your living space can be really conducive to getting work done, so not only does it save on heating your home, it can also be better for productivity. There are also microwaves on campus if you have left overs to bring and if you want to treat yourself to a coffee on campus make sure to bring your takeaway cup to save some money – it is about £2.10 for a latte, not bad!

Electric blankets and hot water bottles

It’s much cheaper to heat yourself rather than heating your whole house, so with an electric blanket which only costs pennies to run, you’ll quickly feel much warmer. You can pick an electric blanket up for under £20, so it is a well worth the investment!

I hope these tips help you get the most out of your student budget, if you want to here more about what it is like finding work whilst studying – check out my blog.