4 min Read
26 Aug 2013

Written by Liam

Over 30 years experience in financial services, residential lettings and property sales. Director of a leading national estate agency chain, until leaving in 2008 to pursue other commercial interests. Vast experience in new business development, business change, management development and business strategy.

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7 ways to get the most out of your money at university

university students

How to make the most of your money at university

With this year's A-Level students have now secured their university places their thoughts will soon turn to the logistics of university life and most importantly the subject of 'Money'. So below I list 7 ways students can get the most out of their money at university.

Sort out your bank account early

All the major banks are keen to get students as customers because it is a fact that most people stay with the first bank they use. It is best to sort your banking out before you get to University so that you do more extensive research and obtain the account that best suits your needs. Most banks will offer some type of incentive to open an account, but you need to look past these short term incentives and check the details of overdraft charges and costs that may be incurred in the long term. You can compare student bank accounts here.

Get discounts

A lot of major retailers will offer a student discount together with a number of cinemas and other entertainment venues. You will be surprised how much you can save on these discounts. It's simple - if you don't ask you don't get.

Get cheap travel

Apply for a 16-25 Railcard which costs £30 for one year or £70 for three years and save a third on rail fares. Obtain a Young Person's Coachcard  for £10 a year and save a third on coach fares.

Get a part-time job

There are always plenty of opportunities for part- time work around universities. Bar work, or a job as a waiter, can earn you good money when you include tips and you can still enjoy the social aspect of life at university.

Buy second hand

Purchasing text books and other study material can be very expensive, so why not save money and  buy them second hand. Search eBay and Amazon Marketplace for cheap books or enquire at your chosen university if they hold  a second hand book fair. Also read my articles 'Get stuff you want for free' and 'How to save £100s on books a year'.

Start budgeting

One thing you will certainly find as a student is your money will run out before the month does, unless you create a budget and keep to it. I realise that is easier said than done if you are living on a restricted income, but if you apply yourself to the task you can keep ahead of the bills and still enjoy a few pints in the student's union. Read my article on how to budget.

Make the most of Mum and Dad!

When you make trips home make sure you never return to university until you have a good square meal served up by Mum. This will save you spending on another fast food meal on the journey back. If Dad is in a good mood and offers to drive you back to university take advantage of his good nature and save yourself money on travel.

(image by sippakorn, freedigitalphotos.net)

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