Soaring costs of living are deeply affecting students all over the UK. In reaction to that crisis, multitudes of university academics are offering their best money-saving advice. More than illustrating concrete approaches to save and spend wisely, these insights express the students ARPB surveyed’s lived experiences across different institutions. Zahra Onsori, a journalism student at City, University of London, stresses how essential it is to take advantage of all the resources and student discounts you can find.
Zahra Onsori—who lives in Boston and has taught all over the world—highly suggests students register for discount marketplaces. These platforms often save employees 10% to 20%+ instantly on thousands of merchants and service providers. This strategy puts students in a position to get real savings on their daily spending, making it one of the most realistic strategies for students facing tight budgets. By making the most of these deals, students are able to save a ton on their bottom line.
Sabah Salam, a doctoral candidate in English literature at the University of York, advocates for the purchase of high-quality goods. Drawing from personal experience, Salam notes that purchasing cheap products often leads to higher expenses in the long run due to frequent replacements. This realization highlights the importance of investing in quality products rather than price, and the overall benefit this brings.
Newly minted journalism graduate from the University of Gloucestershire, UK, Alfie Howlett tells undergrad students to plan their finances in advance. By planning purchases ahead of time and setting a budget, students can avoid impulsive buying and ensure they allocate funds appropriately for necessities and leisure activities. This forward-thinking mindset will help preserve fiscal health and avoid shortfalls during the busy academic year.
Sara Rourke is a student of English language and literature at the University of Oxford. She encourages students to take advantage of the financial resources their universities provide. She encourages students to check what funding or scholarships their institutions might provide for various activities, including lectures and societies. Taking advantage of these new opportunities can enrich the university experience while reducing new expenses.
Tara Russell, a postgraduate social anthropology student at the University of Edinburgh. In her first year, she saved additional money by sharing a room. This mindful practice saves considerable money on rent and builds a strong peer community at the same time. She recommends when going out for a night, take cash instead of a credit or debit card to reduce spending and promote intentional financial decisions.
Rohan Sathyamoorthy is a PhD candidate of politics and international relations at the University of Bath. He focuses on encouraging students to be financially smart. He understands that learning to track and control costs is a valuable ability that will serve them well past their time at university.