Top money saving hacks
Seeing as we aren't able to go to restaurants or have days out just yet, this is the perfect opportunity to get your finances in check and to start saving.
In aid of National Student Money Week, we've got some easy hacks that anyone can do to start you off on your saving journey...
1. Create a budget
The first rule to budgeting is to create a budget, see what money is coming in and out of your bank each month (phone bills, food shopping etc) and work out how much you have leftover. The money left over is the money you could save, set yourself a goal each month but remember to be realistic.
2. Create a food plan
Come up with your weekly meal plan before you go food shopping. This includes breakfast, lunch and dinner as well as any snacks you'll want in the week. Try to buy everything all in one shop so you don't spend any money in the week at the corner shop.
3. Take your food shop seriously
When you are food shopping stick to your list as much as possible, buying items that aren't on your list will soon add up and you'll be spending more than you planned. Also, try not to fall for those 2-4-1's and BOGOF offers, they aren't as good as you think.
4. Invest in a water bottle/flask
Buying your own refillable water bottle and flask will save you spending money on water and hot drinks at coffee shops when you go out on a walk. Plus it helps the environment by cutting down on plastic waste.
5. Buy a TOTUM card
A TOTUM card will get you student discount on lots of different shops both online and instore (when they re-open). If you didn't want to pay for a TOTUM card you can sign up to UNiDAYS which is completely free you just need your university email and you're good to go.
6. Make Depop your best friend
Depop is a great place to go for all your fashion needs if you do want to treat yourself in lockdown, yes, you can still treat yourself whilst you are trying to save. If you wanted to earn some extra cash, why not sell some of your own items on Depop and put your earnings towards your savings.
7. Walks, walks, walks and more walks
You may find yourself naturally saving money in lockdown as you can't go out for dinner or evenings out with your flatmates. Going for walks will keep you busy whilst not costing a penny, some simple entertainment that is FREE!
8. Download a budgeting app
Monzo is a great online banking app that helps you budget, not only does it show you how much your spending in each category, you can also create 'pots' where you can keep all your savings. Having a 'pot' gives you somewhere to keep your money out of the way to stop the temptation to spend it.
Whatever you do, stay away from your overdraft if you can help it - it might seem like free money now, but when you're still paying it off in a couple of years, it definitely won't.
National Student Money Week (#NSMW) is the perfect excuse to put these into action and get saving!
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