Top Ten Money Saving Tips
Whether or not you’re feeling the pinch there’s nothing better than saving a bit a money. Apologies if some of them are blindingly obvious but you never know…
2. Work out your budget - keep control of your expenditure and ensure you're not left without cash. Try the online budget calculator tailored for BCU students at http://www.tic.ac.uk/StudentServices/Calculator/
3. Avoid credit and store cards - if you don't have an income you can't repay the debts which means the interest will compound and build quickly leaving you owing serious cash. For example, a debt of £1500 on a credit card with a rate of 15.9% over 9 months and you could pay £176 just in interest.
4. Buy a travel pass - If you’re a regular bus or train user it’s likely that you’ll save money if you buy a travel card. A student bus pass can save you over £300 (see http://www.travelwm.co.uk/) and full time students (of any age) can get 1/3 off train fares: http://www.16-25railcard.co.uk/
5. Get help with health costs – students are not automatically exempt from paying for health costs such as prescriptions and dental charges. But you can apply for help on the basis of your low income. To do so you need to fill in a HC1 form. These are available from the Students’ Union and Student Services or you can ring 0845 610 1112 for a copy.
6. Buy an NUS Extra card – the student discount card costs £10 and entitles you to exclusive discounts with the likes of Amazon, Pizza Hut and McDonalds. Buy it at http://www.birminghamcitysu.com/nusextra/
7. Make sure your tenancy deposit is protected – this may not save you money right now but it could when you come to move out. By law deposits must be put into a tenancy deposit protection scheme. See http://www.direct.gov.uk/en/TenancyDeposit/index.htm for more info.
8. Cut down your utility bills - visit www.switchwithwhich.co.uk to find the best value for money options.
9. Turn the thermostat down - save up to £30 on a £300 annual heating bill just by turning the thermostat down by one degree.
10. Take advantage of the Microsoft Student Software deal - Microsoft is offering university students the chance to buy its Office Professional Academic package for £49.99. See Microsoft Student Offer for details.
For more information on any of these tips or for any other money advice contact the Advice Centre. Click here for details.