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Saturday, 24 March 2018

How to save money

Hi everyone, todays post is all about how to save money. Students, from what I know, can be notoriously bad with money, with so many people with only £10 left of their overdraft and spending it all on a jagerbomb. But as a student myself, I personally think I'm pretty good with saving money. I manage to save money every week and live happily on the budget I set myself, without having to live on beans on toast and pasta! So here are my top tips for saving money...



1. Take a packed lunch and your own drinks
In my first year of uni I would buy a Starbucks hot chocolate and a cup of tea for like £3 or more, when I had plenty of tea, hot chocolate sachets and a flask sitting in my cupboard at home. If you do this a few days a week, that's probably £10 a week just on hot drinks you could get for free at home. If you buy lunch, like a meal deal for example, thats probably £4 ish a time. If you just take your own, you could save so much money! All the money you'd normally use for lunch and drinks, put it aside and save. 

2. Get a savings account
Knowing that you have a savings account is a pretty good incentive to save money. Personally I have a Help to Buy ISA, which is a good choice if you're saving money for a deposit on a house/ mortgage. Some saving accounts may offer you perks if you put in a certain amount each month. 

3. Set a budget
Knowing exactly how much money you have to spend is so important. Work out how much things like rent, bills and direct debits will cost, then see how much you have left. Just make sure your stick to your budget.

4. Open a pay as you go card
This tip is perfect for people that can't stick to a budget. I put my weekly budget into one each week, then only use this card to buy things. I've tried both 'monzo' and 'revolut' and they're both great pay as you go cards. You can find them on the App Store on your phone. If you don't know what a pay as you go card is, it's basically a debit card that you top up with money. 

5. Do you actually need it?
There are so many things on my Wishlist that I'd love to buy, but I stop myself and think, do I actually need this. For example, I have at least 5 pairs of black jeans, and the other day I saw another pair and nearly bought them, but stopped myself, because I could save that £40 for something far more important! 

Hope this post has been helpful, if you have any money saving tips then please let me know by commenting them!

Jasmine xx
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4 comments

  1. I'm so bad for buying coffee in the starbucks at uni x

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  2. Such great tips, as a student I was always hitting empty on my accounts but I've got better at saving as time has gone on. I could have really done with a pay as you go card to curb my spending! xx

    Violethollow.com

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  3. i do spend so much money on food and drink and I need to STOP haha!! xx

    cristynottingham.blogspot.co.uk

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  4. Saving on eating out and having packed lunches has helped me to save money :) great tips.

    www.upyourvlog.com

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