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We all know it’s crazy expensive to be a student these days. Sadly, I won’t be able to help you with those tuition fees and the cost of rent, but what I CAN help you with is everything else! I have created this post to provide you with the best tips to save money as a student, that will actually make a HUGE difference! I know this, because I’m a student myself and I personally use these tips to save a lot of money too!
My 4 tips for saving money as a student. (That actually work!)
Let’s jump right in with the tip that has personally saved me the MOST money. This is something I recently stumbled across, and I promise you I’m not being dramatic when I say this particular thing has CHANGED. MY. LIFE.
1. Invest in a portable washing machine
This tip is for everyone that has to use a public laundry facility because they don’t have a washing machine/dryer at home.
Okay, I understand you might be thinking: “I thought we were going to SAVE money – why are you telling me to buy something?”. But just hear me out: Getting your laundry done at a separate laundry place is very expensive in most cases. To show you exactly how much money you can save in only ONE YEAR, I will tell you exactly how much I was paying for laundry before I invested in a portable washing machine.
(Keep in mind this example includes laundry for two people, and that all laundry facilities use different prices)
- I would wash 4 loads of laundry every week for me and my boyfriend. One load = £2.40
- Detergent per load = £0.40 (We were only allowed to use those “pods”)
- Making use of the dryer = £1.-
Now, I wasn’t very alarmed by these prices at first, until I started to add them up to see how much I was actually paying monthly. Brace yourselves: I was paying £60/a month JUST FOR LAUNDRY. That’s when I started to do some research and found that a portable washer/dryer is actually a thing! It’s a one time purchase you can make to save a lot of money in the future!
The portable washing machine I personally have costed me £140, but using a laundry facility would’ve ended up costing me £720 for only ONE. YEAR. Also, the portable washer is actually very well-built and can definitely last you your entire student career. It’s honestly the simplest, fastest way to save money as a student.
The best options for portable washers in 2020
Below I have linked two portable washing machines/dryers in different price ranges:
Click HERE for the washer I personally own. IT’S CURRENTLY ON SALE RIGHT NOW! (I like this one because the spin dryer compartment is made out of metal.)
Click HERE for the washer that’s even more budget-friendly!
Don’t forget to ask your roommate if they want to go in on the purchase with you!
NOTE: I have already used and tested mine for around two months now, and I can tell you the quality is amazing. I even manage to fit my kingsize duvet covers in it!
Purchase an eco egg! It works with all different types of washing machines, including portable ones! In addition to it being great for the environment, it can save you a lot of money too! The eco egg I own myself can be used up to 210 washing cycles and only costs £13.29, which works out to be only 6 cents per load! I’ve officially said good-bye to other detergents.
Click HERE to purchase an eco egg! (It also comes in different scents and quantities, but this is the one I currently have.)
2. Keep track of your expenses
Number 2 out of my top tips to save money might seem a little obvious, but we often forget that small changes can make a huge impact. A great way to save money is to take a look at where it’s all going. For example, if you checked your expenses and saw that you are spending quite a bit of money on coffee to go, you could decide to make a change there. Instead of grabbing a coffee every single day, you could change it to only getting one on days you have early lectures. (To give yourself a little extra motivation ☺). I assure you it will help you save money in no time!
3. Sign up for a rewards system.
This is something that is overlooked by so many students. Signing up for your favourite supermarket’s rewards system is one of my biggest tips to save money! I have heard so many people ask me what the point of a rewards system is. I think a lot them think that collecting points takes a lot of time and that it’s simply not worth it, but they couldn’t be more wrong!
The thing is, you’re not only saving up points that you can later claim and use as vouchers (which is already great, considering all you have to do is scan a card whenever you go shopping), but by being a member, you’ll be allegeable for all of the shop’s discounts!
Let me show you what I spent and saved this week on my grocery order! (Again, keep in mind this order is for two people!)
As you can see here, I saved nearly £8 this week just by being a member! If we do a quick calculation again – and keep this as an average number – we can see that I could save over £400 a year by making this tiny change! But don’t forget that I’m ALSO collecting points, which I can use as vouchers later on! If that doesn’t prove that signing up for a rewards system is worth it, I don’t know what will.
4. Get into meal planning
Meal planning is not the same thing as meal prepping (although meal prepping is also great). Meal planning is not only a great way to save money, but it will also help you save time!
On a piece of paper or a document on your laptop, decide what exactly you want to eat the upcoming week. While doing this, try to think about recipes that require the same ingredients as some other ones on the list. Think about it: How many times have you created an amazing dish, but ended up feeling bad because you had to throw out so many of the unused items? By planning out your meals in advance, all of that can be avoided! Not only great for you bank account, but also the planet!
That concludes my top tips to save money!
I’ve experienced firsthand how difficult it can be to see that debt increasing and not knowing what to do about it. I hope that this post has helped and inspired you to start saving up money in a simple, straightforward way! If it has, please share it with your friends – especially that one that always seems to come up short at the end of the month! Follow me on Instagram for more tips on becoming successful @ReneeHalfway. I’ll see you in the next one!