Before you leave to go to University you have to be prepared. For many people, it will be the first time living away from friends, family, and the comforts of home cooking. There are many reasons why someone will miss their home, however, one of the biggest factors is money. 

University life can be expensive, so it is important to know what you are getting yourself into before you head off. 

Here are some of the best tips for students who are moving out, moving country, or moving away from all of the benefits of living with their parents. 

  1. In the months (or years if you are really organised), leading up to you moving out for University, it is very important to start saving as soon as possible. Depending on your personality; whether you like going out or staying home; shopping; or being active; there are a number of hidden costs that the first few weeks of University can throw at you. From joining fees for University Societies to your first food shop, the list of expenses is neverending. Therefore, the most vital thing you should do before leaving is making sure you are prepared for everything and anything life has to offer by saving as much money as possible- you don’t want to miss out.
  2. As well as saving, it is important to make sure that your money is held in a good bank account. There are lots of different options for students when leaving home for University, but a lot of UK Banks have schemes for newbies and the offers can be great. One example is Santandar who offers great deals, like their free 4-year train fares (terms & conditions applied)- this can be particularly helpful for visiting back home or other friends at different Uni’s. 
  3. When you get to University everything can seem so exciting. Your lifestyle is completely different and many companies are already aware that students are not so great when it comes to spending money. So another VERY important tip for new students would be to keep an eye out for Student Discounts. There are a number of websites that offer this, some have partnerships with big brands and companies too, for example, Unidays or Student Beans. However, a lot of the time all you have to do is ask the cashier at the till “do you guys offer a student discount?”, and they can apply the code right away. You will of course have to prove that you are a student, with your ID card of some sort, however, this is easy enough, and can help you reap the benefits instantaneously. 
  4. Something that may not come easy to most students yet is a really good tip for saving money- meal planning and prepping. Understandably, most students are not concerned with their weekly eating habits for days in advance and can change their mind as soon as they see an advert for their favorite fast-food chain. But, so much money can be saved if you sit down at the beginning of the week and plan ahead. To make this a more sociable habit, you can pair or group up with your housemates or friends, as bulk-buying products tend to work out cheaper. 
  5. In the spirit of staying organised and thinking ahead- it can also be very money-savvy to plan your weekly timetable so that you can save money on things like bus fares (by purchasing weekly, monthly, or even yearly passes). As well as this, you can create a budget plan to make sure you stay on the right path. 
  6. Printing off your bank statement and actually reviewing it is a good way to stay on top of your finances too. Sometimes we assume that we have been behaving ‘well’, but when it is in black and white in front of you, you can really see how you spend your money. Take 2 different colored highlighters, have one for essentials and one for unnecessary, and work down your statement highlighting each expense. It will be easier to actually see where you are going wrong and what you are doing well by using this technique. 
  7. Unfortunately, the next piece of advice would be to get a part-time job. This can actually be a brilliant way to learn life-skills for time management and to get more organised too. It is a really good idea for building up your CV – being able to prove that you can work and study at the same time is a skill that not many can acquire. Not only will this help you create a routine, but financially it makes a lot of sense as it will bring in new forms of revenue and mean that you are not reliant on Student Finance or other forms of loans. 
  8. You can also ask your University for help. Most Universities have some form of a budget to help students that are struggling to make ends meet. So if you find yourself really worrying about money, speak to a member of staff at your University and see what they can do to help you. 

University is all about studying, but it is important to have fun and make the most of this experience. So making sure you don’t have to worry about money all of the time is an easy way to get rid of some of your burdens. 

If this is your first time moving out especially, remember to praise and treat yourself every now and then- just make sure it is justified. University is a great but challenging experience, so as long as you don’t lose sight of the reasons why you are there, there is nothing wrong with splashing the cash (just don’t make a habit out of it).