Whether you’re a first year student living away for the first time or you’re in your final year – budgeting can be difficult. Student loans are usually a lifeline for most students going it alone, but without proper budgeting it can be all too easy to squander your money away before you’re even halfway through the academic year.
During 2020, budgeting well was almost forced upon us as pubs, bars, restaurants and all other leisure facilities shut up shop. But as we approach the midway point of 2021, things are finally beginning to open back up and socialising is very much back on the cards.
So – what can you be doing to budget now that the world is back open? From food and drink to travel, and those smaller luxuries – here’s our top tips for budgeting your student loan in 2021.
Limit your takeaways
Take out has been one of the only things to remain open during the national lockdown and by now many people are probably sick of pizza and greasy burgers – but if you’re not one of them – then this one is for you!
Takeaways are convenient and comforting, but they’re also one of the biggest drains on student loans in the UK. In most cases, you can knock up a dish that is full of nutritional benefits in the time it takes to order and wait for a takeaway. Not only this – but cooking a quick healthy meal can also see you with leftovers for the following day, making it a much more cost-effective option.
Food shopping is a boring but essential task for anyone living independently. Unfortunately, the most convenient places to buy your food are often the least cost-effective, so scouting out the supermarkets closest to you and making informed decisions can help you save big money each week.
Our tip is to never go food shopping on an empty stomach as this will help you to avoid any unnecessary impulse buys. It’s also a great idea to go armed with a list of ingredients with meals in mind, to help you stay healthy, focused on what you need to buy and ultimately to help you save money.
Reduce those spontaneous coffees
Coffee is a go-to for most students who love to burn the candle at both ends but picking up a coffee several times a day can soon rack up to big money at the end of the week.
So, think about how often you’re stopping at your favourite independent coffee house. Is it just once a day on your way to your morning lecture? Perhaps you pick up a coffee on the short break between seminars too. Whatever your routine is, see where you can cut out one or two coffees and you’ll soon feel the benefits.
Our tip here is to invest in a sustainable travel cup and make your own beverage of choice at your student accommodation in Liverpool, ready to take with you on the go!
Find affordable student accommodation in Liverpool
Although you can make small changes such as those above, one big area that can help your budget go much further is accommodation. Caro Lettings is one of the most modern yet affordable student accommodation in Liverpool, with a wide range of locations available, making it even easier to find budget-friendly student living in 2021.