10 Ways To Get The Absolute Most Out Of Your Student Loan
Here are some of the best ways to get the most out of your student finance at university.
Check out our top tips on how to make your student maintenance loan stretch as far as possible.
1. ROUND IT UP
If you have Monzo you’ll know it comes with an awesome feature that allows you to create a savings pot by rounding up the pennies on your purchases. Spend £3.78 at Superdrug - your pot gets that extra 22p without you even thinking about saving money.
2. GET THEM POINTS
Rewards card are always a good idea. Whether it’s a Tesco Clubcard or a stamp at your local coffee shop, everyone likes being rewarded, and even better when you don’t even have to do anything out of the ordinary. Make sure you sign up to all the reward cards you can and get the most out of those points.
3. MAKE FAKEAWAYS
Takeaways are great. We all love ‘em. But they can be pretty expensive and definitely not always worth the money. Fakeaways are getting easier to master, with Nando’s sauce at the supermarket and everything. Next time you’re craving a takeaway look up a recipe online and see if you can whip it up yourself for a fraction of the price, much like this bad boy.
4. USE STUDENT DISCOUNTS
Duh. Download the Student Beans app and save money at all your favourite shops. Pretty easy one there. It’s free and you save money, use it before you graduate - you’ll miss those student discounts once you’ve graduated.
5. PAY WITH CASH
It might seem silly, but your brain doesn’t always associate spending with your debit card. Handing over physical cash makes you more aware of your spending habits and what’s worth the spend.
6. USE DEPOP
Everyone has clothes they never wear. What is the point? Whack those unwanted clothes up on Depop and get some money for them. Depop is basically like if Instagram and eBay had a baby. Don’t be tempted to buy more clothes though, this is about clearing out your wardrobe and earning some cash.
7. HAVE A SORT OUT
Have one day of the month where you go through your finances and check that you’re not subscribing to anything you really don’t need. Netflix? Don’t pay for one account, group together with friends and split the fee for extra screens! It might not seem like a big saving but it all adds up.
8. MEAL PREP
Buying your lunch when you’re out and about can end up costing you loads of money. As can that cheeky coffee on the way to a lecture. Meal prep your lunches for the week so you’re not tempted to spend extra on top of your weekly shop and use a reusable coffee cup to take one with you in the morning.
9. FREEZE FOOD
If you head to the supermarket after 6pm you’ll probably see a load of reduced items that go off today. You can quite often freeze food and keep it for another day.
10. GO OWN BRAND
Ever wondered why a pack of supermarket paracetamol is wayyyy cheaper than some fancy pants brand with a cool looking logo? Well, that’s the answer. The logo. You’re paying more to have a box with a name on it. Don’t fall for it.
Got any tips for students on how to make the most out of student loans? Leave a comment!