How to Manage your Money
09 February 2019 Health & Wellbeing
How to Manage your Money
As its Student Money Week (ironic despite the lack of…) this week, we thought we’d hop on board with the nationwide campaign and give you a few top tips on how to save a bit of extra cash here and there, and avoid the dreaded overdraft limit!
Avoid Meal Deals
Yes they’re called ‘deals’ but when you’re having them 5 times a week, you’re mugging yourself off a bit there. They’re handy for those super busy days at uni where you’ve forgotten your lunch but don’t have time to nip home, but try to limit it to that. We’re all guilty of it!
Do you really need to go out 4 times a week?
The occasional Friday or Saturday night out can be excused, but when you’re going to cruise Monday, Wednesday Rosies, SU Friday then round every bar in Chester on a Saturday, it’s a little excessive. If you add up all the money spent on outfits, taxis, entry, drinks and food you’d be absolutely gobsmacked. Your friends wont mind if you miss the odd night out here and there, and you’ll find you get so much more work done and feel loads better about yourself too!
Online Shopping Addiction?
I have to admit, this is my biggest weakness. It can become very addicting and gets very expensive, so try to hold off ordering clothes you don’t need – yes its true, you don’t actually need a new outfit for every occasion. Delete any shopping apps you have on your phone, and try to resist whenever you feel the urge to just ‘have a quick browse’. For any clothes you’ve hardly worn or still have tags on, Depop is a fab way to make some of your money back for clothes you’re unlikely to wear again.
It might be very tempting to splash the cash and go for the fanciest membership you can find, however realistically are you actually going to use all the extras? Commercial gym chains like Pure Gym and The Gym often have cheap options, and if you get the off-peak membership it can even be below £10 a month! It’s worth shopping around and seeing what’s best for you as well as matching your needs.
Cash or Card?
Paying by card feels like you’re paying with monopoly money, and with the rise of Apple Pay and contactless its easier than ever to get carried away. Try to figure out a set budget for the week and withdraw it in cash at the start, and hide your card away. It easier to see how much you’ve got left when its in your hands, and can help prevent those little fivers fluttering away here and there.