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6 Money Saving Tips for Students: How to Budget, Save and Spend Smart

With the current cost of living crisis, managing your money can feel daunting. So at UniWOM we have compiled some of our best student money saving tips to take you into the new year. It’s tough to make ends meet during the best of times. But don’t despair – there are plenty of ways for students to save money and make the most of their budget. Here are some tips to get you started.


1. Create a Budget

Create a budget: The first step to saving money is to know where your money is going and one of our best money saving tips for students. Take a close look at your expenses and see where you can cut back: here are a few examples – combine a Netflix membership with a housemate, find student discount on existing subscriptions and cancel any unused ones, cut back on your data usage and when you go out find places that offer student discounts. 

When determining your weekly/monthly budgets, include all of your fixed expenses (like rent, energy and tuition) as well as variable expenses (like food and entertainment… aka a cheeky night out). Try and average your monthly spending over the last few months/term and see where you could cut back or make smarter choices. Being a student is meant to be some of the best times of your life, so don’t compromise too much and search for deals where you can!

2. Local Student Discounts and Deals

Look for student discounts: As a student, you are often eligible for a wide range of discounts on everything from groceries to clothing to entertainment. Many retailers offer discounts to students – keep an eye out for student discounts on everything from clothing and electronics to travel and entertainment. Take advantage of student discounts at local stores and businesses, and look for deals online as well. 

We offer a free to use app for students, a way to help you find local discounts and save money on the local businesses that you visit often. From coffee shops, restaurants, nights out to haircuts everything you to save money as a student all in one place. Our goal is to the best money saving app for students across the country, with great discounts wherever you go – with new discounts added weekly.

3. Shop wisely

The third money saving tip is to, shop wisely. I know it sounds simple but this can help knock £10-£20 off your weekly expenses – just with a few better choices. One of the biggest expenses for students is food. A solid money saving tip when doing your weekly shop is to shop in larger shops. Here you will find the shops own brand items, you can buy in bulk, and use membership cards to accumulate points and coupons off you next shops. Also consider packing your own meals, meal prep food instead of eating out or being tempted to. If you plan your meals you will be able to buy the exact ingredients you need and avoid waste.

Shop around for the best prices, don’t just settle for the first price you see – take the time to compare prices and shop around for the best deals. This is especially important when it comes to big-ticket items like textbooks and electronics.

If you do want to eat out and save, check the UniWOM app – it will help you to find the best local deals around you. We are available in Cardiff as of (January 2023) and planning to expand over the coming months. So download the app now and see what deals are around you.

4. Build an extra income stream

When saving money isn’t the issue you may wish to find ways to earn extra cash: If you’re having trouble making ends meet, consider finding ways to earn some extra dolla.  This could include getting a part-time job, freelancing, or even starting your own business. While being a full-time student can be demanding, taking on a part-time job can be a great way to earn extra income and offset some of your expenses. Just be sure to balance your work and school responsibilities so that one doesn’t suffer at the expense of the other. A few online business models you could start are: content creation, affiliate marketing, or student ambassador roles.

5. Look for free resources

Look for free resources: There are plenty of free resources available to students, many universities offer a range of resources and services that can help students save money. Take advantage of these opportunities to save money and enrich your education. For example, you might be able to borrow textbooks from the library rather than buying them, take part in free online courses, events and activities on campus, or take advantage of free tutoring or academic advising services.

Here is a resource from the House of Commons Library that could help give you a little more direction and support for students looking for additional help!

6. Be smart when borrowing

Be smart when borrowing and don’t live beyond your means. Credit cards can be a useful tool , but they can also be a source of debt if used irresponsibly. If you do decide to get a credit card, make sure to pay your balance in full each month and only charge what you can afford to pay back, this is where budgeting comes into play!


By following these tips, you can take control of your finances as a student. Making the experience less stressful and more enjoyable. These money saving tips can help you live more comfortably and lessen the effects of the cost of living crisis. It won’t be easy, but with a little discipline and determination, you can make your budget stretch further and live more comfortably…

We know saving money as a student can be a challenge, but it’s not impossible. Creating a budget, taking advantage of discounts and free resources, you can stretch your budget all while having a great time in Uni! <3

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UniWOM discounts

We are no financial experts, but we’ve been there and done that! Being a student in todays economic conditions is more difficult than ever. The cost of living has impacted the student experience and we are offsetting it one local discount at a time! If you’re looking for some discounts near you then check out our discounts here.

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