Be savvy with your student finances this term

With the new term about to start, everything’s starting to feel very real again! Whether you’re just about to embark upon your university life this term, or you’re a pro at this student lark, we’ve got some pointers that just might help look after your student finances this September.

-Do your banking wisely. Seek out the best deal and student account for you. It is important to consider what overdraft they are offering and the interest rates which they will charge if you do go into the red. Many banks offer rewards and discounts for opening an account with them, such as railcards or vouchers so shop around. Also, try and find a bank with a branch near you. If you have any problems, it’s good to know where to head.

-Make a budget. We can’t stress the importance of this enough so work out whether you want to budget weekly or monthly and stick to it. Download an app on your phone so you know exactly where everything’s going.

-It’s also a good idea to try and use cash when you can. It seems a lot more precious when you’re handing over notes rather than a bank card. On the other hand, paying with card lets you see exactly where your money is going and it’s all itemised so may help in the long run. Find the way that works for you and follow it.

-Find the best mobile deal. Chances are you’ll be texting and calling friends and family from home regularly so you need to make sure you’re on the correct plan, for the least amount of money.

-Head to the supermarket late in the evening to get your pick of the reduced food. From about 7-9pm is usually best, so grab what you can and freeze the rest.

-Try to work in the summer months, or even for a few weeks over the Christmas period. Not only will you have a little extra cash to spend, but you’ll be gaining valuable experience in the meantime.

-Most of all, don’t begrudge yourself spending money. Although you should watch the pennies, you still should be enjoying your time at university as much as possible. Plus you don’t want to be the one who doesn’t chip in for the round!