Showing posts with label budget. Show all posts

Top 5 Tips On Saving Money As A Student

The Summer holidays are fast approaching and many of you have teenagers who will be moving onto university or college. It's an exciting but also worrying time for parents. You may worry about how your child will manage his or her time. How will they cope with the workload? Will they be able to get to lectures on time? How will they manage financially on a student loan?

My son has just returned from his first year at uni and I had all those thoughts myself. To me, it was important to sit down with him at the start of the academic year and talk about how he would manage financially, and look at ways to budget and save money. Some students pick up this knowledge anyway but it was reassuring to talk about it and know that he had some of the skills needed as well as discussing further ways to save with him.

Here are my top 5 tips on saving money as a student.

Image Copyright: Rawpixel.com Shuttertstock

1. Work out a budget and stick to it

I know it's not exciting but work out how much money you have coming in, how much your outgoings are and how much you will have left at the end of the month. The Money Advice Service has a great online budget tool if you need help with this.

Money Saving Expert works this out by 'count your student loan and any grant, any cash from parents and any work income, then minus your outgoings and don’t spend more than that.'.

It is worth signing up for a student bank account as many give perks like a 0% interest-free overdraft which can help with emergencies.

2. Get the benefits and loans you are entitled to

A student loan is available for tuition fees and living expenses for the majority of students in the UK and it's the lowest cost loan you will ever get. Check out the Student Loans Company for further information.

As a full-time student living with other students or on your own you don't need to pay council tax. Make sure you fill in the relevant forms from the local council so you don't have to pay. If you live with a non-student, you still receive a 25 per cent reduction in your council tax. To get your discount, make sure you apply to your local council via www.gov.uk.

If you are a parent, have a low income or a disability there may be benefits you can claim from the government, and financial help and assistance you can get from the college or university, so it's worth checking this out.

If you are predicted to get high grades, there may be scholarships available too, contact the finance department of the college or university to find out.

3. Get discount cards and use discount sites

The National Union Of Students run a scheme, where for £12 for 12 months students can get an NUS Extra card which gives discounts on eating out, fashion, shopping and much more. Nationwide companies are involved and you can get 5% off on Amazon, 10% off at Co-operative food, and 10% off at Superdrug for example.

Discount sites can really help you save too. BrokeScholar is a website with over 900 active student discounts at any one time. It doesn't cost to check out the website and you may save some money. 

4. Sign up for travel cards

As a student and/or a young person you can travel for a lot less with a student bus pass or a 16-25 railcard. The cost of transport can be a big part of a student's budget, especially if they are travelling from home, so any savings here will help a lot.

5. Only pay the TV Licence if you need to

Yes, you can legally do this! If you only watch TV on catch up and limit it to your mobile, laptop or computer you don't have to pay the TV licence fee which is £145.50 a year. My son successfully did not pay last year as he doesn't watch live TV. Be sure to check out the TV licence website for up-to-date information on this, and you will have to complete a form online or ring them to speak to them about this and make a declaration.

If you do get a TV license and leave the accommodation in the summer months you can apply for a rebate for that time, which can be up to £40.

For more information check out this guide to top money saving tips for young adults
and how to save money on groceries as a student by the blog Budgeting For Students.
Posted by at 18 comments
Labels: , ,

Cutting Your Shopping Costs

There really is no need to break the bank in order to feed your entire family the way you would like to. By following a few key pieces of advice, it really is possible to amass significant savings each year. By using some of the ideas that follow below, you will likely be amazed by the transformation in your shopping habits as well as your total bill.



Copyright: Stokkete Shutterstock

The sad reality is that an average family these days wastes and discards roughly £420 worth of food on an annual basis. This equates to approximately £35 each month that is essentially tossed into the garbage. Just think how that money could have been used instead. Perhaps it could be added to the holiday fund or used for a fun evening out on the town. That money could have been yours to spend had you just planned a bit better before doing your food shopping. We inquired about your very best ideas for stopping food waste and received some extremely helpful answers.

Basic Tips For Saving Money

Being more budget-conscious in your daily life does not have to be depressing. Building up your savings is a great way to feel empowered and will allow you to allocate resources to valuable experiences your whole family can enjoy. In order to get started, consider applying the concepts that follow.

Do some advance planning when it comes to your weekly meals. Though you may not be accustomed to creating a shopping list, doing so is a great way to purchase just what you need and not go overboard on unplanned items. 

Cook large batches of your favourite recipes and freeze them for later. When you make your favourite pasta sauce, go ahead and double the batch and put half in the freezer. You will not have to spend any more time or effort, and you will give yourself the gift of a delicious meal that is ready to go whenever you need it. Using some terrific batch-cook recipes is a great way to create tasty meals for use at any time. 

Steer clear of costly takeaway meals. If you really are in need of a no-cook, quick dinner, consider grabbing a pizza from the supermarket. The convenience is the same, but the cost is far less. 

Creatively re-purposing leftovers can be much more appealing than you might initially believe. All it takes is a little imagination, and you will soon be incorporating them into new-to-you dishes that really satisfy.

More Handy Tips

Before doing your shopping, make sure to conduct a thorough survey of what you already have on hand at home. That way, you can avoid making redundant purchases of items that are already in your kitchen. Ask your kids what they would enjoy eating for the week ahead and try to plan your shopping accordingly. Snap a picture of the inside of your pantry and freezer if that will help you remember what is already available.

If your family has fallen into a menu rut, visit some of the many food blogs online, look through Instagram for ideas or page through some magazines for helpful inspiration. 

Do not forget to take a look at free stuff and coupon websites that offer free food and drink and blogs that link to freebie and giveaway promotions. You will be amazed at the sorts of items you can often get for free. 

Avoid top-up market trips whenever possible, because those are when the most waste tends to happen. Thus, when you head out for a grocery shopping trip, make sure to complete your snack and lunch purchases as well.

Once you have completed your shopping, try not to put everything in the refrigerator without giving thought to what should be frozen for later. Otherwise, you are likely to have a large amount of unused food that goes past its due date and must be tossed. Large packs of meat should be divided up into meal-sized portions and frozen.

Make certain to always look at the expiration dates on perishable items in your home. These are often the costliest items we purchase, so if you cannot realistically use something up before the stamped date, freeze it in instead to prevent unnecessary waste.

* Guest Post
Posted by at 19 comments
Labels: , , ,

Top Tips For Christmas - Budgeting And Saving

We all know that Christmas is an expensive time. Research by YouGov in 2014 found that UK households planned on spending £861 on Christmas last year with over £600 on gifts. That's a lot of money.

With a bit of planning, some budgeting and some saving in advance it doesn't need to cost the earth or get you into debt.

If you are watching the pennies at Christmas think of these important points.
  • Presents should be affordable - make a shopping list and stick to it. Don't go mad, work out what you can afford and stick to it. 
  • Do your research - use price comparison sites and shop around for the best prices. 
  • Cut our unnecessary presents - just buy for immediate family and close friends, and cut out buying for work colleagues, extended family and friends of friends because you feel you have to.
  • Spread the cost - put aside some money every month for Christmas presents. Many supermarkets have a stamp scheme where if you fill a card with pound stamps, you will get extra if you cash it in, in December.
  • Don't be a retail snob - young children don't value your gift on price or brand. Consider making gifts if you are creative as people appreciate the thought, it can be very personal and save you money too.
  • Don't panic buy - write a list and plan what you are going to buy in advance. 
  • Plan for next year - start putting a few pounds away on a regular basis in January and before you know it you will have your Christmas shopping sorted. Buying in the sales can also save money, as well as spreading the cost over the whole year.  If you're interested, here's a website helping you pick the right credit card that earns rewards for shopping.


Tell me what are your top tips for budgeting and saving for Christmas?

 *PR collaboration
Posted by at 14 comments
Labels: , ,

20 Ways To Save Money On Your Food Shop

These are my money saving tips on how to save money on your food shop.



Copyright  Shutterstock

1. Weekly meal planning. Planning for the week has the advantage that you only buy what you need and you can save money by cooking in bulk. For example, you can buy a chicken and get a roast out of this, a curry, and have leftovers for soup and sandwiches. It helps you be economical and get the most out of your shopping.

2. Take advantage of bulk buying and special offers if you have the storage area. Meat packs, for example, can be better value when bought in bulk, and most can be frozen - check the labels. Also, look for special offers such as buy one get one free or round pound deals.

3. Use discount supermarkets such as Aldi and Lidl or stores such as BM Bargains and Poundland. Discount supermarkets and bargains shops may not have the choice and brands and the luxury of packers to help you but you can make big savings on your shopping.

4. Take the downshift challenge - premium, branded, own brand and value. When you go shopping downshift to one step lower and see if you like the food in that band. You will be surprised that you may not notice a difference in the downshift. If you can't tell the difference in taste then it could be a permanent change.

5. Use coupons for discounts on your shopping. There are hundreds of free coupons available online and in supermarkets own magazines. Check out the samples and discounts on sites such as WOW Freebies. 


6. Save with supermarket stamps and loyalty cards. Many supermarkets allow you to save with stamps and cash in the card in December for a bonus amount. Loyalty cards have great offers and when you have enough points you can get vouchers back. Some of the best ones such as Tesco or Sainsburys will allow you to 'double up' on vouchers for money off attractions and restaurants for example.

7. Go shopping late in the day. Food is often reduced after 8pm. 

8. It's an oldie but a goody - never go shopping when you are hungry. Supermarkets are very sophisticated these days with the smell of cakes and bread being piped around the store it is easy to add extra goodies to your shop when you are hungry.

9. Use supermarket 'Price Guarantee' or 'Price Match' schemes to save money.

10. Know your labels. 'Best Before' is about quality control and not food safety. If it passes the sniff test and taste test it should be fine to eat although if in doubt throw it. 'Use By' should always be used by the date, but you should be ok to freeze it on the 'Use By' date if stored correctly beforehand.




Copyright  Shutterstock

11. Check out local markets. As well as supporting local traders you will be surprised at the quality and price of the produce from fruit and veg to meat and fish.

12. Consider online food shopping - this has the added advantage that you aren't shopping when hungry and you can take account of all the special offers. Balance the money saved with the cost of delivery or 'click and collect', for all your food shopping packed and ready for you. This has the added advantage of saving on delivery although you may have to pay for petrol. 

13. Often we throw away leftovers, but why not use them up in another meal or freeze what you don't use? Old vegetables can be used in soup and sauces, bruised fruit in pies and crumbles, breadcrumbs in coatings and stuffings.

14. Use vegetables to bulk out meals saving you money on buying meat. For example, adding pulses and vegetables to a stew or casserole can make meat go further, helping you cut down on fat, providing fibre and nutrients and saving you money too.

15. Buy fruit and veg when they are in season. The food will taste nicer and they will be cheaper too.

16. Avoid prepared food where possible. If you have the time it is almost always cheaper to cook from scratch. As well as knowing exactly what is in your food it will taste great too.

17. Take your own carrier bags. In Wales, we have to pay for carrier bags, and most are 5 to 10 pence each. Even if you are not in Wales, some supermarkets will give you points back on their loyalty schemes if you take your own bags. Points mean money back on your shopping.


Copyright Oliver Hoffmann Shutterstock

18. Grow your own fruit and vegetables. Okay not everyone will have an apple tree but runner beans, carrots, and salad vegetables are easy to grow, and as well as the satisfaction you will be saving money too. Even if you have a flat you can grow herbs on a window sill.

19. Have a vegetarian day once a week. Meat is almost always the most expensive item on a shopping list so try out a day where you leave the meat and base your main meal around vegetables.

20. Buy a slow cooker or pressure cooker. Although you will have the investment of buying the appliance in the first place,  cooking food in these ways means you can use cheaper cuts of meat as the cooking process will tenderise them.

If you want more ideas on saving money check out The Money Advice Service for free impartial advice and my top money saving tips for young adults.
Posted by at 27 comments
Labels: , , ,

Welcome To Holiday Gems

I love going on holiday, I mean who doesn't right? I love a bit of luxury too but that doesn't mean I want to waste money, so I always look around for the best prices and brilliant deals.

Holidays don't need to cost the earth

Copyright  Shutterstock

So when a company called Holiday Gems approached me to work together, a company that specialises in cheap deals, I thought I would like to find out more.


ATOL Protected 

 Firstly security and safety is vitally important to me when I book a holiday. Security of my money and safety of my family. Holiday Gems is a company that is ATOL protected for your peace of mind. What that means is your money is protected if the company goes bust and also if you are stranded abroad. 

 Secondly, if you book a holiday online the website uses VeriSign which means online payments are secure and protected. That is very reassuring to know, as I almost always book my holidays online.


Bargain Holidays

 So we have safety and security covered so what type of holidays does it sell, you may ask? Well Holiday Gems specialise in cheap holidays, last minute holidays and cancellation holidays. For great offers you can sign up to their email for the best deals before anyone else. Also if you are looking for an extra special bargain, check out the home page of their website as they have 'Today's Special Offers' highlighted.

Luxury Holidays

 Luxury holidays are here too though, for example they have a great selection of all inclusive holidays at realistic prices for Spain, Greece, Egypt and even Mexico and lots of other destinations too. For example a week in a four star hotel all inclusive in Kusadasi, Turkey with flights from Birmingham is only £275 per person. When you consider all your food is included too I think that is a hard price to beat.

 Cruises

 If you have always wanted to cruise, but have always thought of it as too expensive  then it is worth having a look at the cruise section especially the weekly deals. Many cruises these days are family friendly too and they have a dedicated section for these cruises.

The Norwegian Spirit Mediterranean cruise - see it, explore it, experience it

I've always wanted to go on a Mediterranean cruise. To see so many beautiful countries on one holiday would be a dream for me. The Norwegian Spirit cruise visits Venice, Kusadasi, Istanbul and Napes to name a few and the chance to go to Pompeii would be amazing. Definitely a cruise to check out.

The Booking Process

The Holiday Gems website is easy to navigate and the booking system is simple to use. When you book you can search for a flight and hotel together or a hotel only. After you have selected your choice you can then add on extras such as transfers, car rental, and cancellation protection. Payment terms are either in full or many holidays can be secured by a deposit as well - useful to know when you want to book that great deal but want to spread the payments. 

 Extras

 As well as transfers, car rental and cancellation protection you can also buy travel insurance, and pay for airport hotels and lounges.

 Reviews

 Lastly, don't just take my word for it - from over 500 reviews Holiday Gems has a 93% rating on review site Feefo, giving them 4 1/2 stars out of 5. 

I will be working with Holiday Gems over the next few months, so look out for my other posts and if you are considering booking a holiday why don't you try the Holiday Gems website, you could save enough money to buy yourself a whole new wardrobe before you go away. How fantastic is that!


Copyright Jag_cz Shuttersrock

* This is a post in collaboration with Holiday Gems - all words and opinions are my own
Posted by at 20 comments
Labels: , ,

Krakow On A Budget

Travelling on a budget? Head to Krakow in Poland

A guest post by Rhian from Rhian Westbury. Rhian blogs about music, beauty, lifestyle and travel. 

Poland isn’t necessarily the first place people think of when they want a city break or a long weekend away, but people’s mindsets need to change. Especially if you’re after a cheap holiday.

Krakow is a beautiful city with plenty to do and see, but not too much that you’ll have too much to cram into your 3 /4 days away. When I went I stayed at a hotel in the old town, while the rooms were pretty small they had everything that we needed, but the breakfast more than made up for it. Every morning we had a full on continental buffet which set me up on the day.

The main reason why Krakow is a fantastic place to go is how cheap it is. Over the four days I was there we had lunch and dinner out each night, and numerous drinks/ coffee stops and it was ridiculous how cheap things were. A sit down sandwich lunch with drink was about £2 and each night we had a 3 course meal, and wine, and it never came to more than £14 per person. Even going to the Starbucks there was cheap and I brought back a litre bottle of Polish vodka for £3! So if you’re on a tight budget but still want to experience lots make sure you head to Krakow. Although I have been told by a Polish friend that the rest of Poland is even cheaper! I don’t quite know if I can believe this though.


Whilst there we had a bike tour which took us around all the sites and our guide was wonderful and allowed us to stop anywhere that I wanted to take pictures, and we regularly got out to explore. You can book yourself on organised tours to various places when you’re in Krakow and the two which I would strongly recommend are the Wielizcka salt mines and the Auschwitz- Birkenau world war two camp. 

If you opt to head to the salt mines - probably my favourite part of Krakow- then make sure you wear sturdy shoes as there is quite a bit of walking as you head deep into the depths of the mines. The salt mines are truly phenomenal and when you get downstairs you will be greeted by sculptures and ornaments made entirely from salt. They are all incredibly detailed and I can’t imagine how skilled the people that made them had to be. There’s even a wedding chapel down there and we were told how some couples actually get married down there.


In contrast the Auschwitz- Birkenau camp is incredible for completely different reasons and this time you might need some tissues. It is all completely set up as it would have been back in the early 40’s and as the tour guide walks you round there are some truly incredible sites. I actually went on this trip with my nan who was alive during the war so it made the trip even more emotional. Even if history isn’t your thing it’s still a worthwhile trip to make.

If you’re looking for a fun, cheap city break then head to Krakow and let us know what you think!
Posted by at 12 comments
Labels: , , ,

Managing Money As A Student

Students and money don’t really go hand-in-hand (a bit like students and revision as well!) The only time you really talk about the two in the same breath is when you discuss student loans and the ever-increasing amount of debt being acquired while they complete their studies.



This figure has grown over the years, especially since the Conservative government in the UK got their way in increasing tuition fees to a £9,000-per year limit. As such young people are coming out of University with excellent qualifications, but crippling debts which they feel they will never be able to pay off without the help of a lottery win!

As parents, and as graduates ourselves in many cases, we are well aware of just how difficult it can be to get through the academic year with what little money you have available. By the time you have paid for your accommodation for the year along with tuition fees and study materials that are deemed to be “essential” but you barely ever open, you’re struggling to keep yourself in the black and you have little option but to visit the Bank of Mum and Dad for a loan (by loan, we of course, mean donation!)

This made me think about how things could be improved. There isn’t enough money available to just give them, but giving them the advice to make what they do have last could be key.



 Copyright Marcos Mesa Sam Wordley Shutterstock

One idea I had was to get them in for a meeting with an accountancy firm so they can be given expert advice by someone in the industry who can give them the “inside knowledge” on how to make every penny go further. There are some excellent accountants in Manchester and London (and all over the UK actually), who would be willing to spend some time with you and your son or daughter, to offer advice on how to manage money.

Managing money doesn’t come naturally and it is a skill that is best learned early on, to avoid the inevitable and costly mistakes that can take a long time to put right. Simple tasks such as knowing your incomings from your outgoings can pay dividends in a very short time and isn’t necessarily as obvious as you might think. I often wish I had started young, learning to prepare for the unseen costs in life, rather than spending everything by the end of the week and hoping for the best!

An accountant will probably begin by suggesting a simple spreadsheet to track how much money is left and where it needs to be spent. We all know that it is easier to manage money if you can see it, and being organised is key. However, when I was a student, I used to have two columns; ‘Got’ and ‘Gone’, which worked for me. As long as ‘Got’ was higher than ‘Gone’, all was well with the world!



Copyright  Shutterstock

It is also invaluable to learn how to make a small amount of money stretch and to be realistic about how much they have. If they can get to grips now with shopping with a limit, like £10 or £20 for example, it will put them in a good position when they go out on their own. Own-brand products and special offers will become their first choices and “luxuries” will have to be just that rather than being taken for granted and added to the trolley each time they go with you.

Finally, we all know how important a social life is to a student. Going out for a few drinks is common practice and quite often a spur of the moment decision, but teaching them that blowing all of their money in the Student Union will have a knock-on effect for their bank account. While the drinks might be much cheaper on campus than in a typical town or city centre bar, it’s still money they won’t be able to spend on the genuinely important things - like a train ticket home to see Mum and Dad!

What advice would you give to students on a limited budget?

* A collaborative post 
Posted by at 14 comments
Labels: , ,
Subscribe to: Posts (Atom)