“Your student finance will be paid into your bank tomorrow.” Quite possibly one of the best texts you will ever receive in your life (unless Ryan Gosling decides to get in touch of course). Suddenly your love/hate relationship with Student Finance takes another turn, with the memories of endless hold music, unfriendly staff, and submitting 15 copies of your birth certificate all long forgotten at the prospect of some cash. While it can’t be denied that nothing quite beats the excitement of a new semester and a new student loan to match (I personally jumped for joy around Halifax upon its arrival), somewhere in this state of euphoria, responsibility is forgotten along with those essentials like *ahem*, paying for food and rent. We have to admit, we’re all guilty of it.However, it is often the case that this realisation comes post-spend, when your bank balance has already taken a significant denting. So, whether Sir Phillip Green is now offering you shares in Topshop after your recent splurge, or you decided to buy the world and his dog a drink after one too many in Mission, I suppose you are wondering what you can do to salvage the situation. Let’s face it, while that on-trend studded Topshop jumper may look amazing, it is not going to keep a roof over your head. I cannot magic your loan back for you, but I can offer a few tips to earn and save money that will hopefully stop you (and me), from crying into our bank statements.
1. eBay, eBay, eBay.
Summer 2012: the one that will always be remembered as my “poor phase”. With summer rent, my expensive shopping habit and my fear of missing out on ANY social event, my bank balance took a battering. After living in a world where my overdraft was still a novelty, the realisation that Halifax would not be paying for my new collection of MAC lipsticks brought me back down to reality with a bang (as did the looming rent due on my uni house).
Step forward eBay: the perfect solution to my money woes. With a wardrobe that could clothe the female population of Leeds and beyond, I decided it was time for a much needed clear out. The idea is simple; you sell things you don’t want anymore and other people buy them, with of course, a small percentage going to eBay itself (10%). While it may not be for everyone, eBay taught me that despite a recession, people will still buy any old crap (probably not off of me again if they read this), and as my bank balance grew, so did my love for the site. While there are some downsides, such as having to let go of a Topshop dress for 99p (if you don’t want to let it go for a steal, don’t put it on), it really is worth it, with my clothing raking in an impressive £300 over the summer. My personal highlight was selling a Primark item for double its original price, increasing my profits and leaving me feeling like Alan Sugar.
Be warned! Don’t get caught up in bidding wars. The aim is to sell not to spend!
2. Food, glorious food.
While it is a common thought that students exist exclusively on Pot Noodles and Sainsbury’s Basic cider, maybe even Super Noodles on a special occasion, buying fresh fruit and vegetables could actually help you save money as well as keeping that dreaded “Freshers’ Flu” at bay! Buying and cooking food from scratch not only tastes better (in theory) but also works out cheaper than buying the ready meal version. The market is also a great place to shop for fresh food such as meat, fruit and vegetables, with food being a lot cheaper than your local supermarket. Entering Kirkgate for the first time, I acted as though I had just stumbled upon Narnia, with the stallholders thinking that I was either crazy or food deprived, or possibly both!
Buying food in bulk and group cooking are not only great ways to save money but are also a lot more fun than slaving around the stove on your own. Group cooking also works in your favour if you have a budding Heston in your social circle, especially if you are better acquainted with the smoke alarm than a cookbook.
Just remember; if they cook, you do the washing up!
Buying food “essentials” such as bread, milk and pasta, as a house and not individually, also helps to keep the cost of your food bill down. Because let’s be honest, do you really need 10 pints of milk and 10 loaves of bread? Unless you’re addicted to carbs or a dairy fiend, I think not. All you’ll have left at the end of the week is some chunky milk, green toast and a waste of money. While these small changes won’t repair big damages to your cash flow or give you the bank balance of a Kardashian, every little helps (and no, I do not work for Tesco).
3. Work hard, party harder!
It is common knowledge that us students like to party. Yet it often works out that our social lives and bank balances are on completely different pages (of completely different books).While I agree that we do all deserve a break away from our “strenuous” 8 hour week, sometimes we go a little too wild, letting go of not only our inhibitions but also our purse strings. The blame for this excessive spending – the debit card, a big no-no for nights out. The combination of alcohol, money and generosity is most definitely the root of all evil. So, let’s set the scene: you are struggling to stand, yet still insist on having just that one “last” drink – we’ve all been there. Although you have spent your budget for the night, like a knight in shining armour your debit card appears. And so, after card charges, multiple shots and buying drinks for “friends” who disappear when it is their chance to reciprocate, your night continues. The next morning you will not only be nursing a hangover but also a damaged bank account.
Moral of the story: leave bank cards at home when under the influence!
And one final thought… there is always Halo. Controversial, I know. But where else can you get drunk, have a dance and be in the presence of z-list celebrities all for under a tenner? Oh the perks of being a student…