Take control of your money

Issue date: 04 October 2017

You've started a new academic year and we imagine the first few weeks have been hectic, so budgeting and money stuff have probably slipped from your packed agenda.

We're here to help with some tips to make your money stretch further!

1. Budget and manage your student loan

It's all too easy to spend, spend, spend and end up in financial difficulty. If you budget, it will help prevent you running out of money.

Your lifestyle choices will determine how much money you need to get by every month. Use an online budget calculator or budget spreadsheet to get a clear picture of your finances.

Budgeting tools are great to help you with plan and monitor where your money is going so you can make informed decisions. Check our budgeting webpage and Save the Student for free budgeting tools.

2. Open a second bank account

Consider paying any lump sums you receive (e.g. your loan, grant, salary) into a separate bank account. Then set up a direct debit into your current account to pay yourself in smaller monthly instalments. This will help you manage the big chunk of cash coming each term and prevent from overspending.

3. Make use of student discounts

You can save money on food, clothes, travel, cinema tickets and much more. Check out NUS card, UNiDAYS and StudentBeans for loads of discounts and deals.

4. Organise your food habits

Eating out is expensive compared to eating at home. Try to see eating out as a treat rather than the norm! Preparing your own breakfast, lunch and dinner instead of buying them when out and about will save you loads of money.

If you plan your meals for the week, you'll know exactly what ingredients you'll need to buy when you go food shopping. You can also grab bargains in the evenings when most supermarkets reduce the prices of food - look out for the yellow labels!

Consider bulk cooking and cooking with your housemates to save money (and time).

Take a look at the The Afoodable Guide (PDF) for more food hacks to get the most of your food budget.

5. Get a part-time job

Boost your income (and enhance your CV) by finding a part-time job.

A great place to look is The Students' Union JobShop. If you want to refresh your CV or get some guidance with your career, check our careers resources.

6. Sign up to our Financial Capability module

We run a series of 3 workshops to help students get to grips with their finances. It's called a module but there's no assessments involved. Topics include budgeting, housing, credit ratings and how to manage debt. The first one runs on Monday 18 October, 14:00-16:00. Sign up by emailing MAFS@uwe.ac.uk

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