The reason why many students struggle financially is that they are out on their own for the first time, without their parents to pick up the tab. Even if student accommodation is paid for, spending money has to be well managed and monitored. Some students have jobs and some rely on loans, but no matter how they are funded budgeting is an important necessity for any student.

However, there are many budget hacks which students can use to make their dollars go further. Let’s have a look at some great ways to do just that.

Textbooks

Textbooks are something which students cannot go without, but buying new isn’t the only option. Instead of putting large amounts of cash on new textbooks, students can look to rent them from the library, find a downloadable online version or buy the books second hand. However, if you buy second hand from last year’s students, be sure that it is the latest version of the textbook.

Coupons and Deals

If you are going to go drinking then happy hour is the perfect time to do it and it is critical that you take advantage of as many savings and promos as you can. The same thing goes for grocery shopping, there are loads of coupons which you will find online, that can help you to save some serious cash on the essentials.

Paying the Bills

If money is tight then it is important that you don’t lose money unnecessarily. One way that can happen is if you don’t pay bills on time. A late payment fee can be very expensive for someone who is trying to watch their money. The same goes for interest payments on credit card bills. Stay organized and pay those bills early.

Buy a Bike

A bike is going to be a very smart investment and although you may feel as though you are shelling out some money, the savings over the long term will make it worthwhile. Most universities are well placed and you’ll find that many places you go to are within cycling distance. This will save you huge amounts on public transport and cabs.

Buddy Up The Bills

Don’t take on all of the bills in the student accommodation you are sharing, work with your roommates to split services up. For example, if you are going to get music and TV streaming services then take one each, this way you can all enjoy it without one person footing the whole bill.

Student Discounts

Student discounts are there to help and support you, make sure that you take advantage of as many as possible. Most students fail to do this because they simply aren’t aware of them. There is plenty of information online which you can find that will point you in the direction of all student deals available to you.

Finally the key to saving money during your time in uni accommodation is to be aware of all the money that you have coming in and out. The moment you begin to ignore it, is the moment that you will overspend.