How To Save Money

All students are guilty of spending their student loan way too quickly. Those discounts are way too good to resist but, as someone who struggled with money last year, I decided that this year would be different. I wanted to share a few tips with you all as to how I’m planning on saving my money this year.
As I have to pay rent and bills, plus food shopping and travel for work etc, I wrote a list of the things I need to spend each month, when it is due, and how much it’ll leave me. This budget includes absolutely everything excluding going out and treating myself, as that’s something that I don’t really need to do. I’ve already worked out that, as I have a part-time job, the money I get from that will be used to occasionally treat myself when I really deserve it.
Saving Account
The best thing to do when you are trying to save money is open up a saving account, rather than use one account. My main account is for all my bills and rent etc, whereas my saving account is where any extra money goes. As I hate my accounts being too low, it allows me to save more as I have two accounts to keep up with.
Be Strict
Do you really need that top? Or that dominoes? You probably want it, I tend to order pizza if I’m hungover or have no food in but, if you have food in already, it’s best to cook that first. Rather than look through the website just for a browse, put your phone down and go cook some food. All students understand that eating pasta every day for a week gets boring but if it’ll save you an extra £20 then go ahead and do it.
Reward Yourself
Although I believe saving to be very important, it’s also good to reward yourself when you can. Some people follow a “treat each month” policy, whereas I’m only going to treat myself when I really deserve it. Say if I work multiple hours each week and want to treat myself, or I’ve had an incredibly bad day or got a good grade.
Get A Job
I didn’t work last year and that definitely caused me to struggle with money. This year, as my student loan covers all bills and rent, I’m putting all my wages into a savings account and just saving as much as I can. Working doesn’t mean hours and hours per week, I’m only on an 8-hour contract which is 2 4 hour shifts a week but I can pick up more where necessary.
Set A Goal
You might not be saving for anything, but set a goal for how much you want to save by a certain time. I’m aiming to save at least £250 by the end of October. Keeping this in mind, I’ll be bound to be strict with myself in order to see those numbers increase.

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