How to cut down costs as a student

Being a student can be challenging but managing your money whilst being a student is even more complicated. It might make sense to think that things accompanied by the heftiest price tag create the biggest dent in our bank accounts. Still, upon actively managing your spending, you may be surprised to find out that it’s, in fact, the small, everyday expenses that leave you feeling like you’re scraping the bottom of the barrel at the end of every month.

A cost that’s usually quite difficult to keep track of as a student is food and drinks. Even if you attend college or university three days a week, you could still be spending roughly £120 a month, that’s £1,320 a year – which is enough for an all-inclusive week abroad.

So how can this be combatted? Prepping your meals at home is the easiest solution to overspending on food every week. If you live alone or accommodate your food at home, the amount you already spend on your weekly food shop could cover over a week’s worth of lunches – and as far as coffee goes, investing in a flask could save you spending £15 a week on a Starbucks.

A philosophy that I believe more people should live by is ‘use what you have’. As well as being suitable for your bank account, using things you already own and revamping something that needs some TLC also benefits the planet. If you’re redoing a room in your house and find you don’t like the colour of a dresser, save £200-400 and buy a bottle of spray paint for barely a fraction of the price. If you find your headphone cushions looking a bit tired, hold off on buying an entirely new pair of headphones and get a pair of earpads in the same colour on Amazon or eBay and replace them yourself.

If you decide that something is far past saving, try finding whatever you’re looking for in second-hand shops and spare your bank account the damage. It’s also worth keeping in mind that there is a market for broken electronic devices that some may buy for parts, so anything you don’t want can still be turned into cash.