The nights are drawing in, Christmas is coming, assignment deadlines are looming and your student loan is quickly running out.
But there are ways you can save money to keep you going until January, or if you’re lucky, the Ones to Watch grant in December.
Sell your old stuff on eBay – is your room at home full of junk you never use? Maybe you’ve got a stash of limited edition DVDs under your bed that are no use to you. Get them on eBay, particularly in the run up to Christmas when people are looking for gifts. You might not get a lot for certain items, but every pound counts, and it soon builds up. Don’t be worried either about being a new seller – you will soon build up your feedback rating if you provide a good service. Even if you think no one will want your item, just list it, you’ll be surprised what people look for.
Buy stuff on eBay – there are some great bargains to be found on eBay, clothes in particular. If you found something in a shop that you like, but it’s a bit too expensive, search for it on eBay, you’ll be surprised what you can find, at a snip of the price. Be sure to check out a seller’s refund and return policies if you’re unsure what size to buy.
Get cash for your old mobile phone – have you upgraded your mobile or bought a new one recently? What did you do with your old one? If it’s just taking up space in your bottom draw, then go to Envirofone.com and they will give you cash for your old mobile. What you get depends on the model of your phone, my old Samsung D900 fetched me £23.50, but if you’re not using your old phone, it’s money for nothing.
Shop Online – ASDA, Tesco, Sainsburys and Iceland all offer a home delivery service, try it out. You might even be able to find a free delivery voucher in the local press. How is this going to save me money you might ask? Well if you shop online you will simply buy what you’re after, your head won’t be turned by luxury items you don’t need, like it is when you shop in store. There are also better discounts online.
Buy store brands – why waste an extra pound on Coca-Cola when you can buy ASDA Cola for cheaper? It doesn’t taste THAT different, and the same applies to most things. In fact, in some cases, you may well find that you prefer the supermarket’s own brand.
Avoid designer labels – if you’re struggling for cash, is that expensive Louis Vuitton bag or Vivienne Westwood jacket really necessary? Economise, there are plenty of high street outlets that sell quality clothing at much cheaper prices. Most people can’t tell the difference between a designer label and a run of the mill item anyway!
Scrap take-outs and ready meals – a take away is convenient, as is a ready meal, particularly if you haven’t got a lot of time, but making your own meal from scratch is cheaper. Get ideas off the internet, and pick up the ingredients in your next online shop, you will save money.
Cancel your gym membership – if you use the gym on a regular basis, then fine. If not, you are just wasting money. You might as well burn the £40 a month you’re chucking away on it. If you want to keep fit, go for a jog. There are always cheaper ways.
Do you really need your car – at uni, everything is within walking distance. Do you really need to be wasting petrol stuck in traffic driving through Preston? If you leave your car at home, you will save on petrol and parking, you could even cut down your car insurance.
Say ‘no’ – if you’ve not got the money, it’s OK to say no to going on a long night out. Likewise, if you can only afford a drink or two, only go for a drink or two, don’t throw your money away trying to keep up with your peers, you can still have a good time.
There’s just a few ways of saving a few pounds. Are you saving money? Let us know by commenting below!



November 7th, 2008 at 3:30 pm
Nice writing style. Looking forward to reading more from you.
Chris Moran
November 12th, 2008 at 2:39 am
Saving tips:
Shield your income from the effects of rising prices by having a current account whose yearly (APR) interest rate exceeds, or at least *matches* the rate of inflation. If you can’t manage that get the best interest rate possible so at least you can slow it down. Inflation is a funny thing, it actually eats away at the spending power of that pound in your pocket:
Economics made simple:
‘Inflation’ measured in the ‘Retail Prices Index’, or “RPI” is the yearly rate in percent, currently 5 1/2%** (excluding Mortgauges), that prices of goods and services increase by, so something costs you say a pound will cost you maybe £1.06 next year.
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**
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Now and again you might hear senior citizens bemoan how prices were lower in 1940′s or something.
In 1943, £53, would buy you, roughly, what at least £1000 buys you today, that’s inflation for you. But were we poorer then? Well not in those terms no, as wages were lower to match, so it works out the same
Inflation means that roughly, the pound halves in value every twelve years, or in other words, prices DOUBLE every twelve years. Fortunately wages increase by almost the same amount to keep us level, or slightly behind!
On to those Saving money tips!
Either put aside 12% of your income in a high as possible internet only savings account with MONTHLY interest (>>VERY<< important… I’ll explain why in a moment)
OR…
Do the same by a less drastic method with simply putting all your pennies and two pence coins in two seperate tins/jars and banking them in the same net only high interest A/C every time they fill up to the top.
Your bank that you have a current account with will change them for you…, just don’t tell them if you have a savings with another bank, they won’t know!…then put the notes in a deposit envelope (ith the giro deposit slips your internet bank sends you,alternatively write a cheque out for the amount from your current while banking the coins – this needs more discipline though to not use the savings.
OK…why monthly interest?
Interest awarded monthly, “accrues”, or builds faster if it’s paid, or “compounded” monthly by an effect called ‘compound interest’. This is simply interest upon interest and takes a roughly doubling type effect 2, 4 , 8, 16, 32, 64, 128 and so on, especially when each month you deposit an amount matching the previous month’s interest awarded!
FREE MONEY!
Many students can receive a bonus to your current account interest or savings account interest because many being ‘non-taxpayers’, this means you get a higher rate of interest, called “gross” interest
BUT you have to ask for it! Oh and it’s perfectly LEGAL.
It’s easy though, you just use these magic words when you get to nearly the finish of opening any account “Oh, could you send me an R85 form?”, or phone your bank at any time and ask for one
They will give you or send you one through the post. It is a form declaring that you want your accounts interest not to be taxable and to get the full rate. That’s it, it’s not a contract or anything like that.
Sign it and return.
It might not be very much, say an extra penny a month of interest…but IT IS BETTER IN YOUR POCKET THAN THEIRS!
All grist to the mill, as they say.
November 12th, 2008 at 2:40 am
Oh…
Source for the RPI figure is
http://www.statistics.gov.uk/cci/nugget.asp?ID=19
it didn’t show the first time.