6 Tips to Help Students Save Money

Going back to, or starting university is always expensive and the number of students going each year is rising. To help you to tackle the cost, here are some tips for financing your studies and to help you kick start your university year.

To help fund your studies, you can also rent out a room using Roomlala. You could, for instance, sub-let your apartment on weekends, or when you’re away. School holidays can also be an excellent time to sub-let your accommodation and easily earn some extra cash, but be careful! Remember that you need to get permission from the landlord before you sub-let a room out to someone else. Our article Rent out your Place when on Holiday gives a quick insight into the best way to do it.

If your budget is tight, you could always look for cheaper accommodation solutions than traditional rentals. For instance, on Roomlala you can find ads for flat and houseshares or even accommodation in exchange for services, which is an excellent means of saving money on a daily basis in return for doing odd jobs for your landlord. You still end up with a lot of time to study, but you benefit form a really cheap room.

Have you ever thought of swapping or sharing? With the development of the sharing economy, you will easily be able to find people near you who are willing to swap or share stuff with you, through local exchange platforms. Be it a swap forever, or just a short term loan, you’ll definitely save money this way- why buy something that you only need for a day, when you can borrow it for a fraction of the cost!

To fund your studies and nights out, you could also look for a part-time job on the side. The same tips apply as those that you can find in our article Finding a Summer Job. The article lays out tips for taking that first step into the world of employment and gives advice on the best ways to proceed. A small job shouldn’t take up too much of your time, but it will give you a bit of financial breathing room.

Most universities, both in the UK and the US, offer a large number of scholarships, either based on merit or on financial need. If you’re struggling to make ends meet whilst competing your degree, it’s definitely worth taking a look at what scholarships and grants are on offer at your university. A lot of universities also offer scholarships for foreign students, so don’t forget to check them out if you’re coming from abroad.

In recent years, crowdfunding has become a major trend across the world, and it can also be used as a means of funding your university education. Many platforms have popped up, where you can create your funding campaign and other members of the community, as well as people with whom you share the link, can help you cover the cost of your studies by donating some money. These communities are very interactive and you could in turn participate by helping out another student.

Author: Roomlala