Students are no strangers to money being tight, and right now weÔÇÖre heading for an
unprecedented period of financial woes. Prices are at an all-time high, leaving many of us
anxious about making ends meet. Having made the jump from generous undergraduate
maintenance loans to barebones postgraduate funding, IÔÇÖve learnt to make savings
wherever I can. Small changes can add up to big results, and with just a few tweaks to your
lifestyle you can reap big rewards.
Take control of your finances: A minor inconvenience in the short term could result in long
term savings. Ditch the meal deals for packed lunches and get your steps in instead of
getting an uber. Ask yourself, should I be paying for multiple subscription services or a gym
membership? These things can stealthily drain your bank and, while cutting back wonÔÇÖt
result in the house sized savings that anti-avocado toast columnists might claim, itÔÇÖll leave
you in a better position at the end of the month. All this can be the foundation for better
budgeting practices. If you can, aim for the 50/20/30 method, saving 50% for necessities,
20% for savings and 30% for discretionary items!
Conserve your energy: Once upon a time you might have complained your parents told you
to put a jumper on instead of cranking the heating or scolded you for leaving a light on. But
with energy bills forming the bulk of price increases, these habits are more necessary than
ever. Each item might only cost a few quid extra to leave on, but that can quickly rise to
hundreds of pounds in a house full of appliances! And especially with Spring rapidly
approaching, thereÔÇÖs no better time to cut back on the heating bill. Reducing your energy
usage saves money and saves the planet, so itÔÇÖs well worth the effort.
Go bargain hunting: Looking for the cheapest deal is ancient student wisdom, and for good
reason. It can be easy to prioritise convenience over cost, but it causes bigger issues in the
long run. Make sure youÔÇÖre using and abusing student discounts, rinsing any free samples
you come across and whipping out the loyalty cards wherever you shop.
Get a side hustle: Realistically, thereÔÇÖs only so far you can cut back before you start hitting
essentials; eventually you just need to up your income. Getting a job is the obvious advice
here, after all in a busy city like Cardiff thereÔÇÖs always plenty of work going in retail and
hospitality. If uni is too busy to commit to regular shifts, agency work and casual shifts like
those offered by the SU Jobshop can be a lifesaver. Finally, online surveys and research are
relatively easy to do, and can add up to a decent amount of spending money. Ultimately,
any additional source of income is a huge help, so check whatÔÇÖs available to you!
Have a clear out: Maybe youÔÇÖre too busy, one of the mythical few that does all the reading.
For you, a spring clean could be more profitable than you realise; after all, one manÔÇÖs trash
is another manÔÇÖs treasure. Old clothes and tech can fetch a better price than you might
expect, and thereÔÇÖs no better feeling than getting rid of unwanted clutter.
DonÔÇÖt be afraid to seek help. Even with the most extreme cost-cutting, sometimes your
money simply wonÔÇÖt stretch. Student Advice at the SU can point you in the right direction for
financial assistance, and many utilities providers often temporary freezes or alternative
payment plans. YouÔÇÖll never know what help is available until you ask, so it never hurts to
try.
Words by Aidan Mc Namee
