Keeping Your Finances Strong As A Student

Being a student has its ups and downs. On the whole, most people will find it to be a particularly enjoyable and enlightening experience. But that is not to say that there are never any difficulties; of course there are, and it is up to the student to learn to deal with them as well as possible. One of the major stresses of student life for most people is the financial side of things. It is notoriously hard keeping your finances in check when you are studying, so it’s worth taking a look at what you can do to improve it before you start. In this post, we are going to go through some of the most essential financial tips which a student can benefit from. Bear the following in mind, and you should be in a much better position with regard to your finances.



Making The Most Of Benefits

There are many ways in which students do actually benefit from their particular lifestyle, and many examples of the society providing certain boons in a financial sense. It’s a good idea to get to know what benefits there are out there for you to take hold of, as doing so will ensure that you really are making the most of the situation you find yourself in. A good example is that when buying many goods on the high street, you can usually find student cards or discounts for students. You might as well make as much use of these as you can, as it all helps in keeping your finances in check. Similarly, you will be able to save money by not paying as much council tax - something that can usually be notoriously expensive. All of these things add up to make for a cheaper way of living - and you might find that it is absolutely essential to take advantage of them if you are to enjoy student life as much as possible.


Free Cash

It might seem like it’s too good to be true, but you can actually get hold of free cash in order to help your studies along. Whether or not you have already looked into this, it’s something you will want to consider if you are going to make the most of being a student. This money can come in many forms. Most commonly, it is in the form of a governmental or local grant - which usually means you won’t even need to pay it back. There are also examples of other, more specific grants for those studying certain courses or at particular institutions. As with everything, it is worth taking the time to check it out yourself so you can make sure you are getting all the money that is truly bowed to you. The money is there to be had, so you really may as well make the most of it. If you do, your life as a student will be considerably easier, and you will be able to focus more on the studies themselves, rather than spending your time worrying about money.



Applying For A Scholarship

There is another kind of free money which you should look into, primarily because there is a good chance you can get it. If you apply for a scholarship, you can often have your way completely funded throughout your education - something which is bound to make a significant difference to your studies as well. Scholarships are not easy to come by, but when you get them they are notable for being a mark of distinction as well as making your life a lot easier. It’s worth at least trying to get one if you are serious about both your studies and your financial situation being as strong as possible. The right scholarship can really make all the difference.


The Right Bank Account

As a student, you are often entitled to a range of specifically student-focused bank accounts. These tend to offer a variety of benefits and characteristics which you might find useful. You might need an overdraft with a small interest rate, or maybe you just need to make sure that you will never have to pay to hold the account in question. Either way, student accounts are the way to go. Sometimes, you even get further gifts for signing up, which can be geared towards helping your studies in some way or another. Bear in mind, however, that you should spend your time and make sure you end up with the account that really is right for you. Otherwise you might find yourself stuck with an account which you should not really have, or which does not actually serve you all that well. This is a difficult situation which is hard to escape from.



Selling Back Your Belongings

You will often find that you no longer need some of your textbooks as you continue your study. For example, in your second year it is unlikely that you will need many of the texts from the first year. You can use this situation to put yourself in a better financial position just by selling those books on to someone else. There are many ways to do that - you can sell them locally or to a friend you have in the lower year. Or you could use a service like for more money to come rolling in. However you decide to do it, it is worth looking into. Books are likely to be your main expense, or one of them, and selling them on when you are done with them ensures that you are going to keep in the best financial position you possibly can. Of course, it can extend beyond just books - you can sell any old clothes or anything that you no longer want or need. You might be amazed at how much money you can bring in this way, so it is definitely worth doing.


Save On Travel

Wherever you study, chances are you are going to have to use public transport a lot to get around. Fortunately, this in itself is a great opportunity to save some money, as you can easily help yourself to one of the many travel cards that abound. If you live in a big city, it’s likely that such a scheme does exist, and it’s definitely worth making use of it. Be sure to look out for specifically student-related cards, as these might save you even more money in the long run, and you might as well. But even just using an ordinary travel card will help you to save money overall, so it’s always worth looking into.



Budget Your Loans

If you are going to be receiving loans for studying, then you will need to make sure that you are sensible with them. It can be tempting as a student to spend it all at once, but you want to avoid this trap if you are going to live as well as possible. You need to learn the basic act of budgeting, something which is relatively easy as long as you have patience and some basic skills in arithmetic. As long as you work out exactly how much money you will need and how to spend what where, you can be sure of being much more sensible with your money. That will mean that your loans last you as long as they are meant to, which will make the student life much less stressful on the whole. Learning to budget can make a huge difference to how well you live, and how successfully you live life as a student in particular.


Save On Energy

Wherever you live, you are going to want to make sure that you are not overpaying for the energy supply. One of the first things to do, therefore, is to make sure that you are with the cheapest supplier you can find. This is a simple matter of using a comparison service to ensure that you have chosen the right one. It might not seem like much of a difference at first, but over the space of a year it really can make a huge difference to your finances, so it’s definitely worth looking into if you are serious about looking after your money as well as you can. Saving on energy is one of the most central things here, and you should make sure that you are doing it right if you want to save money.



Cooking From Scratch

It is often during higher education that many people learn to properly cook for the first time. You will soon enough learn that cooking from scratch is definitely better. Not only does it taste better, is more enjoyable and skilful, but it also means that you will spend less money on food. This is a fact, and it’s one that you should make the most of if you are keen to be in the best possible financial situation. Cooking form scratch, buy your food in bulk, and you will be well on your way to financial success as a student.