Student finance upon receipt tips

Don't all student struggle financially sometimes?

I had this issue, as soon as finance came through, I knew there were expenses I had to cover.

What I do now is simply keep track of my spendings more carefully and have a daily limit. 
My main way to save however, was by opening a tax free ISA. It's an online banking so easily managed account. What I do is I tell myself that every income I receive I have to transfer something to my savings account. This may be £500 from my student finance, or just £20 from my pay check. But it really works. I don't touch that money and I don't even have an intended aim for which I'm saving, but it makes you feel good knowing there's some money on the side that can help if you need it. 

Also, I personally changed my habits of silly spending. Rather than buying drinks at uni I now buy my drinks from a cheaper store. So rather than paying £1.20+ daily, I get 2/3 drinks which last two/three days, obvoousl. Now also snacks at uni are a rip off. Pound shops offer you the same item for a pound but just more of it e.g. Crisps or chocolate. 
I try to find cheaper alternatives to things I'd usually buy from a top retailer. What's the point of blowing your dinner with the thought of more coming in when you can save and be in a better position than most students are nowadays. I also suggest eating before going uni so have a breakfast. Honestly I love my granola and I pay around £1.50--2.00 for a one kg box which lasts a week or longer even.  That means you don't pay daily for uni breakfast or snacks be because your starving.
i hope this helps, somehow. 

Introducing our free credit report

Get your free credit report with giffgaff to find out your credit score and info to help you make the right financial choices.

Check your score here.

Comments (1)

Log in or register to add your comment
Log in now
Not a giffgaff member? Register now

Search by category

giffgaff gameplan

Copyright ©2018 giffgaff

Representative example for a loan of £4,000 for 24 months at an interest rate of 15.5% APR fixed. In this example the total amount payable (including interest and fees) would be £4633.57 and your monthly repayments would be £193.07.

giffgaff receives a fee for introducing personal loans to Retail Money Markets Ltd trading as Ratesetter.

giffgaff gameplan is a trading style of giffgaff Limited, we are a credit broker and not a lender and introduce loan applications to its selected provider of loans Retail Money Market Limited trading as Ratesetter. Terms and conditions apply. Finance subject to status. 18s and over. Credit is provided by Retail Money Market Limited trading as Ratesetter, 6th Floor, 55 Bishopsgate, London EC2N 3AS Ratesetter is authorised and regulated by the Financial Conduct Authority – Firm Reference Number 633741

giffgaff Limited is authorised and regulated by the Financial Conduct Authority, Firm Reference Number - 680957. Registered address – giffgaff Ltd, 260 Bath Road, Slough SL1 4DX. Company Number - 04196996.

Posts on this site reflect the opinion of the members posting only, and not necessarily giffgaff’s opinions or views. There’s a lot of information here that can help you, however, you must remember that we operate an open forum and sometimes messages that are posted are misleading, deceptive, or inaccurate. If you follow these tips, you do so at your own risk. Always do your research and check the terms.