Looking After Your Pennies As An International Student
There are so many ways to save money on your living costs as an international student. Here are just a few tips to get you started..
Research, Don’t Rush!
There is lots to do to settle in as an international student. This usually includes things to buy - whether just stocking your fridge, buying a accessories for your room, suitable clothes for the British weather, or even bigger investments like a bike or a new laptop.
Whilst its good to tick things off the list and there is some truth in the saying that “you get what you pay for”, try not to rush, a little research or familiarity gained over time can go a long way.
Its quite possible to buy things very quickly on sites like Amazon , but there may be second hand options - e.g. charity shops providing just what you need around the corner from your accommodation. Websites like Gumtree, Facebook or FreeCycle may also facilitate your purchase of cheap second-hand items locally. If you’re new to the UK, it might also just take a bit of familiarity to know which shops near you offer the best value. In terms of supermarkets Waitrose or M&S have a reputation for being expensive, and Aldi, Lidl, or Iceland are generally very cheap. But there is lots of choice in between, and it just takes a little time to figure out what’s available in your area and make comparisons. Also, as you make friends over time, you might find they have good tips or even have just the items you are looking to buy - whether its a bike, a lamp or a TV!
If its not urgent and you can wait, taking your time to know the lay of the land can save you a lot of money.
Invest in Cooking
Compared to many other countries, in the UK there can be a huge difference in cost cost between eating out and preparing your own food. Don’t panic, this doesn’t mean you need to become a master chef overnight! It just means you need to be a little bit organised to make your money go further.
Make sure you keep some stock of food at home at all times, so that you don’t get tempted to splurge on a takeaway. Particularly canned or frozen food that wont get old and go to waste is a good idea. Rice and pasta dishes can be very filling even with relatively cheap added ingredients and if you’d like to treat yourself to something more fancy like a steak once in a while, it will cost you a fraction of the price to enjoy it at home rather than out at a restaurant.
Lunches can easily end up taking a lot of your budget. If you can be organised enough to take a home-made sandwich, rice-dish or salad to campus with you, it can really save money. There are so many more worthwhile investments than the food available on-campus, which is so often mediocre anyway. Most UK university campuses have lots of good spaces for eating your own food and may even have places you can microwave your own packed lunch dish.
Drinks can seems like small purchases but can soon add up. Carry your own re-fillable water bottle when possible or supermarket-bought soft drinks. If your a coffee-lover then investing in your own equipment at home and a flask to take to campus will save you pounds and pounds over a semester.
Use your Legs
Investing in a second-hand bike or getting in the habit of a walk to campus can really save your wallet.
Walking can be such a healthy and relaxing way to start or finish your visit to campus and give you a mental breaks in your busy student life. If you can go along with flat-mates or friends living locally than all the better. It may even be a way to get to know your area a lot better too.
A bicycle is a great investment and often save time and money compared to public transport. UK university campuses usually have plentiful places to lock up your bike and often good cycle paths around campus.
If neither walking or cycling will work for you than at least make a priority to check out the bus pass options early on. Do think carefully though - its much better to buy your pass early if you’ll need it, but not at all if you wont get your money’s worth of usage!
Save On Bills
This is another area that may not at first to make much difference but can really add up over time. As a student you shouldn’t have to pay council tax in the UK, but other bills can really catch you out if your not careful.
Energy bills in particular have gone up considerably, meaning over the cold winter months in the UK you can soon land yourself a huge bill. Heating a house or flat to just one or two degrees lower can actually save up to hundreds of pounds over a whole winter.
The advice is to concentrate on keeping yourself warm rather than keeping the home warm. Get comfy warm clothes and layer up, e.g. with thick socks, dressing gowns or thermal underwear. A blanket whilst studying or chilling can go a long way and its much more efficient to spend on the energy for an electric blanket rather than to heat the whole home at night.
Look Beyond The Pay-Packet
At the time of writing, international students in the UK are allowed to work up to 20 hours per week during term time and up to 40 hours per week during holidays. A part-time job can undoubtedly help toward your living costs and a higher rate of pay means you earn more, right? Its not always as simple as that though.
Sometimes finding a job that allows you to max your allowance as an international student is not easy. Pay close attention to the hours you can work and if there is some flexibility, so that you can max the hours when it works for you then all the better.
Also keep in mind other factors when choosing or finding the right part-time job. Will you have any transport costs? Are there any money saving perks, for example if your working in a shop that can give staff discounts or in a cafe that may provide a free meal? These factors can often make more difference to your pocket than the hourly rate necessarily will.
These are just a few tips but there are many more - I haven’t even mentioned student discounts, which can be a whole topic on its own! Look out for future blog posts including tips direct from current or former international students!