Make your budget stretch even further with Savers!
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Posted: 26/08/22
Rent. Reading lists. Really tempting social events. Uni life can blitz through your finances super-fast if you’re not budgeting. Here at Savers, we love helping you get more mileage out of your money. Let’s see how you can stretch your student lifestyle to see you through term after term.
How to calculate your budget
For most students, whether you’re a fresher or heading into your final year, uni life is full of lots of new responsibilities (and ultimately, outgoings!). So, the best thing to do is create a budget that you can comfortably live on that can act as a handy guide week on week.
To create your budget, you can go savvy (with a spreadsheet) or go old school with pen and paper. First, write down your estimated monthly income for the term, which includes all money that will drop into your bank account, including student loans/bursaries, income from work, savings etc.
Next, tally up all your estimated monthly outgoings and expenses, including your rent, bills (water, mobile, electricity), tuition fees, uni materials/supplies, food shopping and travel.
Deduct your outgoing total from your income total and divide that number by the weeks in the term. This is now your weekly budget that you have left to spend on any extras (like going out or a Netflix subscription!). Giving yourself a weekly budget ensures a steady cash flow throughout the term.
How to maximise your budget
Aside from getting a part-time job to top up your funds, here are some ways to get creative with your weekly budget.
Batch cook & freeze meals: Eating out and about (or ordering from our favourite local pizzeria) can significantly impact finances. For day-to-day, try cooking a large meal and freezing single portions for another time – it often works out more economical and reduces waste.
Use budgeting tools: From apps to budget planners and spreadsheets, you don’t have to do mental maths every time you spend. It can be easy to tap your card and forget how far into your budget you are, so use technology to do the tallying up for you and remind you how much you have each week.
Savvy shopping: Always grab your essentials when you see them on offer, anything from toiletries to your favourite snack. Check our Top Picks and offers in-store to save on your favourites. Got a long reading list? Try shopping second-hand or visiting your local library to save money.
Be extra organised: Where possible, plan ahead of time. Often, those spontaneous cab trips or meals on the go can tip us over into the red. Always research your journey ahead of time, check the public transport route (or walk if you can!), and never leave home without an emergency snack in your backpack for when sudden hunger strikes.
How to budget at Uni
Rent. Reading lists. Really tempting social events. Uni life can blitz through your finances super-fast if you’re not budgeting. Here at Savers, we love helping you get more mileage out of your money. Let’s see how you can stretch your student lifestyle to see you through term after term.
How to calculate your budget
For most students, whether you’re a fresher or heading into your final year, uni life is full of lots of new responsibilities (and ultimately, outgoings!). So, the best thing to do is create a budget that you can comfortably live on that can act as a handy guide week on week.
To create your budget, you can go savvy (with a spreadsheet) or go old school with pen and paper. First, write down your estimated monthly income for the term, which includes all money that will drop into your bank account, including student loans/bursaries, income from work, savings etc.
Next, tally up all your estimated monthly outgoings and expenses, including your rent, bills (water, mobile, electricity), tuition fees, uni materials/supplies, food shopping and travel.
Deduct your outgoing total from your income total and divide that number by the weeks in the term. This is now your weekly budget that you have left to spend on any extras (like going out or a Netflix subscription!). Giving yourself a weekly budget ensures a steady cash flow throughout the term.
How to maximise your budget
Aside from getting a part-time job to top up your funds, here are some ways to get creative with your weekly budget.
Batch cook & freeze meals: Eating out and about (or ordering from our favourite local pizzeria) can significantly impact finances. For day-to-day, try cooking a large meal and freezing single portions for another time – it often works out more economical and reduces waste.
Use budgeting tools: From apps to budget planners and spreadsheets, you don’t have to do mental maths every time you spend. It can be easy to tap your card and forget how far into your budget you are, so use technology to do the tallying up for you and remind you how much you have each week.
Savvy shopping: Always grab your essentials when you see them on offer, anything from toiletries to your favourite snack. Check our Top Picks and offers in-store to save on your favourites. Got a long reading list? Try shopping second-hand or visiting your local library to save money.
Be extra organised: Where possible, plan ahead of time. Often, those spontaneous cab trips or meals on the go can tip us over into the red. Always research your journey ahead of time, check the public transport route (or walk if you can!), and never leave home without an emergency snack in your backpack for when sudden hunger strikes.
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