Shop smart

While it can feel unnecessary, taking the time to break down your latest loan instalment into a weekly budget is the smartest way to avoid stress and feel confident that you will be covered until the next payment comes through. Budgeting apps and websites (like Save the Student) can keep track of ins and outs and have the added benefit that it will help you see any extra spending patterns you have, and help you figure out what areas you can cut down and save on. If you can, try and spend some time researching any upcoming financial changes you may need to consider, such as a reduced student loan during your placement year.

Save the Student has some great ideas on how to keep up with the rising cost of living. You can also head over to our Budgeting page for more tips and advice or find out about additional funding and extra support on our Money education page.

We've pulled together some of the key information from BU around accommodation and money:

• Costs, payments, and what’s included – check the price guides for the BU managed halls, Student Village and Unilet, what paying the rent includes, when to pay and guarantor information
• Accommodation for families and couples – specific information for students with families and what you can expect to pay, including a HomeFinders Checklist with a general guide of what to look for when renting
• Accommodation booking FAQs – read our frequently asked questions on booking a room in halls, Student Village and Unilet.

The Save The Student website has some really good information about saving money on rent and bills: 

• How to save money on renting
• Are you eligible for council tax exemption?
• Compare energy providers

The MoneySavingExpert has some great tips to help you get the best deals on your household bills.

There are lots of small changes that you can make at home to help save energy and money; from radiator and thermostat settings to blocking draughts and using LED bulbs. The Energy Saving Trust and Dorset based energy experts, Ridgewater Energy also have some great information and advice.

For more money saving tips check out:

• Money Saving Expert’s Energy saving checklist
• Which: 10 ways to save on energy bills and Guide to appliance running costs 
• Energy Saving Trust: Quick tips to save energy and the Top 5 energy consuming appliances.

A lot of businesses will tempt you with freebies, discounts, or cashback - however this can lead to you spending more than you would originally, so be careful! Thankfully, there are trustworthy student websites online that collate the best offers, such as the ‘Best free stuff in the UK’ ‘Best free trials’ and ‘Limited time freebies’.  If you don’t have an overdraft and are struggling, do remember that an interest-free overdraft provides an extra security net. There is nothing wrong in needing to use one, especially when the alternative is very high interest – however, do remember that the amount will need to be repaid. 

Top tip: Banks will usually sweeten deals with interesting free enticements, but make sure to prioritise an interest-free overdraft when choosing your account. Check out our money education page for more advice.

Becoming thrifty will help you save money in many areas of your life:

• Another way to be creative with money is by cooking more from scratch; not only is it an important skill, but meal prep and batch cooking are more cost effective, great substitutes for a takeaway for nights you don´t want to spend time in the kitchen, and a great way to socialise with friends or housemates. Check out our managing your food budget page for more advice.
• Charity shops and resale apps are full of beautifully crafted and rare to find pieces, cheaper than most shops, and a sustainable way to find (or sell) hidden treasures
• Consider buying textbooks second-hand from students above you – not only will you break even once you pass it on to the next set of students, but it will be an excellent way to declutter too!
• Tips on becoming thriftier can be found all over the internet, but this guide on sustainable shopping is a perfect place to start your research (covering the benefit of buying second-hand, ways to find second-hand clothes in your style, how to buy cheap sustainable fashion, upcycling tips, sustainable costume design, building a sustainable fashion career and tips for buying new ethical clothing).