AJ’s advice – how to get by with no money
| March 31, 2012 | Posted by Alaa Jasim under AJ's Advice |
Having just figured out that in four years time I, along with thousands of other students, will be in £50,000 worth of debt, this is a topic that concerns not only me but, I’m sure, most students who are starting university next year. Saying that “money will be tight” is something of an understatement, and a lot of people are worrying about how they’re going to get by during their student years. It’s not going to be the best position to be in, but we still have to make the most of being in university while we can – after all, it is supposed to be the best time of our lives. So what can we do with very little money? Still a fair amount, but we’ll all have to be careful about it.
Look out for offers
This seems fairly obvious, but with companies out there such as LivingSocial, Groupon and studentbeans constantly pumping offers and deals at you, it’s a lot easier and more fun than just staring at those giant, yellow signs in Tesco. Sometimes the odd tenner off a haircut can be really helpful if you need something else as well, or if you want something you don’t really need. Even if you want to save for something, looking out for money-saving deals can be a pretty efficient way to reduce spending.
Go out, but not too often
It’s important to have a social life, it’s important to go out, but maybe not every night, eh? If you do go out and you don’t want to spend too much, buy drinks that will take you longer to drink and leave your cards at home – that way, your cash won’t be so accessible and thus you won’t be able to spend it all. Or, instead of hitting up a bar, be sociable but do something that doesn’t involve spending much. If the weather’s nice, you could plan a picnic, and leave your purse or wallet at home (but do just carry a bit of cash in case you need to get a taxi home).
Don’t worry, but be aware
Don’t let troubles about money get you down, but keep in mind that you won’t be able to do everything the better-off people you’re bound to meet can do. Don’t be afraid to say no to something. It’s annoying having to miss out every now and again, but look at it this way – they’ll appreciate you more when you’re actually there! It will probably be prudent to get a part-time job, but don’t let that get in the way of your studies. The point of you being at university is to get your degree. Try not to let money worries be the reason for you not doing as well as you should.
It’s going to be a tight couple of years, but there will be help if it’s needed. Almost everyone will be in the same boat as you. Plan ahead, be cunning with your spending, don’t waste too much on things that you don’t need, and you’ll be fine.
That’s all from me this week. I’ll be back next Saturday with more helpful ramblings, but until then please do share your best money-saving tips in the comments below. Have a good week!
I would add to this and suggest keeping a fairly detailed record of everything you spend as you go along. This can be a great way to see how much of your weekly budget (you should be budgeting, too) you’re spending on going out, how much on food, and so on. That way you can see which vices you need to cut down on in order to scrape together enough for your next microwave meal
From my experience going through the monthly bank statement and checking your reciepts etc (wise to keep record of when you take cash out as well) can take a lot of concern away. I always know roughly how much money I have. This also tells you if someones got your pin or hacked your online banking.
Another thing is a little job can’t be a bad thing, more than the income earned, it brings in a monthly not just termly income which can be a mind settler.
I earn £80-100 most months which is piffle compared to the maintence loan but means my account only has a slow decrease over the term.
Just going to add the caveat that it’s unwise to rely on any Groupon deals at the moment as many have been withdrawing from the scheme, shares are down and the company seems to be on the brink of collapse. http://www.accountingtoday.com/news/Groupon-Shares-Plummet-Site-Admits-Accounting-Problems-62228-1.html
-Don’t drive
-Become a vegetarian/reduce meat consumption
-Buy a bike
-Take advantage of multibuys on things like butter a cheese and things that keep
-Learn to sew
-Learn to cook
-Freecycle
-Drink cider!
-Be from Yorkshire
All but those last two make sense Ed. Not that being from Yorkshire isn’t awesome, but I’m not sure it’s saved me any dosh.
Cider is a friendly drink, and one side effect saves on the heating.
Being from Yorkshire will save you money, because people from Yorkshire know ‘ow to save some brass! It’s something in the air.
Wow – thanks for your input guys, these are awesome suggestions… ALMOST all awesome suggestions!
-AJ