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The Mix's guide to university on a budget 📚 🤓
Gemma
Community Manager Posts: 1,138 Wise Owl
Studying isn't cheap and so The Mix has your top tips on how to make the most of your money at university! 📚
Does any one else have any budgeting hacks? Share them below! 🤓
Alt text spoilered:
Does any one else have any budgeting hacks? Share them below! 🤓
Alt text spoilered:
The Mix's Guide to University on a Budget
Get the boring stuff out the way
Taking some time out to check what cash is coming in and what's going out can take a lot of pressure off potential money troubles later on in your studies.
Try answering these questions:
The Student Banquet
Some of your home-cooked meals might not impress Gordon Ramsay, but that doesn't mean you have to compromise on quality. Explore budget-friendly supermarkets nearby and consider factors like travel costs, delivery fees, and quality, It's okay to treat yourself occasionally with a more expensive shop. Keep track of your weekly grocery spending to manage your budget. Expect it to go up and down depending on what you need and want and allow room for this. LSE estimates that students in London spend around £100 per month on food; outside London, you can likely eat well for less. For affordable recipes, check out Beat The Budget!
Party like it's £19.99
Although not everyone loves a party at university, it's still a big player in the whole experience. Freshers, club nights, the unlimited number of birthdays that require to be celebrated - so how are you supposed to pay for all of it!?
Key to a budget night out:
Make extra cash with a side hustle!
Many university students manage to pursue side hustles without feeling too overwhelmed by their studies because they make their hustle work for them.
Make extra cash with a side hustle:
Many university students manage to pursue side hustles wihthout feeling too overwhelmed by their studies because they make their hustle work for them.
If you need support, visit themix.org.uk/support
Get the boring stuff out the way
Taking some time out to check what cash is coming in and what's going out can take a lot of pressure off potential money troubles later on in your studies.
Try answering these questions:
- How much do I receive each month/term/year?
- How much is my accommodation?
- What do I need to survive and thrive? (Food, monthly subscriptions, gym etc)
- How much do I have left to play around with?
The Student Banquet
Some of your home-cooked meals might not impress Gordon Ramsay, but that doesn't mean you have to compromise on quality. Explore budget-friendly supermarkets nearby and consider factors like travel costs, delivery fees, and quality, It's okay to treat yourself occasionally with a more expensive shop. Keep track of your weekly grocery spending to manage your budget. Expect it to go up and down depending on what you need and want and allow room for this. LSE estimates that students in London spend around £100 per month on food; outside London, you can likely eat well for less. For affordable recipes, check out Beat The Budget!
Party like it's £19.99
Although not everyone loves a party at university, it's still a big player in the whole experience. Freshers, club nights, the unlimited number of birthdays that require to be celebrated - so how are you supposed to pay for all of it!?
Key to a budget night out:
- Pre drinks
- Cheap club deals
- Go sober
- Know your limits
Make extra cash with a side hustle!
Many university students manage to pursue side hustles without feeling too overwhelmed by their studies because they make their hustle work for them.
Make extra cash with a side hustle:
- Part-time work at a local pub or club
- Vinted
- Work at your Student Union
- Tutoring
- Delivering food
- Pet-sitting
- Freelancing graphic design or writing
Many university students manage to pursue side hustles wihthout feeling too overwhelmed by their studies because they make their hustle work for them.
If you need support, visit themix.org.uk/support
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Comments
- Travelling: for bus/trains: buy a weekly pass. This will save so much as opposed to buying a daily pass 5 times a week.
- Food/meals: Try and take from home as much as you can. Uni shops/food is expensive- the prices are always so much higher. Even something like a coffee!
- Student discount- take advantage of the fact that you ARE a student at the end of the day. You have access to loads of student discounts.
- Lastly: have a balance, do not restrict yourself completely. For example, if you enjoy coffee then great- have perhaps 1-2 a week from the uni campuses. But it is when it gets to 5 a week where you begin to see you are not budgeting!
Enjoy your uni experience and as a commuter, if you need any more help, feel free to ask me and I will support!