Lifestyle | University

Handy Hacks for Life on a Budget

4th January 2017
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Happy 2017! I can’t believe I haven’t blogged yet this year… Oh wait, I’ve had a ton of uni work to do. Today’s blog post is all about sticking to a budget, which I think is relevant for a lot of us at this time of year (particularly me, I’m a broke student who spent too much on Christmas presents). I’m definitely planning on budgeting a lot more in 2017, because I’m in my final year of uni, London is expensive, and I’ve gotta somehow fund my Masters degree (and pay for the application)… YAY STRESS.

Handy Hacks To Make Adjusting To Life On A Budget Easier

Are you new to living life on a budget? Don’t worry; it will get easier – I promise! Whether you’re on a budget because you’ve spent your student loan already, or have just started university in January, you’ve come to the right place.

Swapping from spending whatever you want to living on a budget will be a struggle at first, as you’ve got to break the habit and get into a new one. However, once you’ve broken the habit and learned to be more thrifty, you will find budgeting much easier.

To help make budgeting easier, here are some hacks to take note of. These hacks will not only make the process of living on less easier, but will also ensure that you don’t end up having to cut out those little luxuries.

 

Separate your funds

To prevent you from accidently spending too much money and going into your rent and bill money, it’s a good idea to separate your funds. Split up your rent and bill money from your ‘life’ money, by placing it in one account, and the rest of your money in another. That way you can make sure that you don’t end up accidently spending the money you need for rent and bills. This is important, because the last thing you want is to spend too much and end up going into the money that’s been set aside for bills and rent! 

 

Shop the sales

When it comes to buying things, from stationery and books for studying, to a tablet for watching movies on, make sure to take advantage of the sales. As well as waiting until there are in-store sales to shop, take advantage of discount sites like plusvouchercode.co.uk that list all of the deals and discounts that are currently on offer. Take the time to compare prices before buying anything, to make sure that you are spending your money wisely and getting a good deal. I personally bought most of my Christmas presents on Black Friday, and I’ve just stocked up on greetings cards from the Ohh Deer January sale!

 

Make a weekly meal plan and stick to it

One of the most common reasons that budgets get broken is due to food. So it’s important that every Sunday night (or whenever is convenient) you sit down and make a meal plan for the week, and use that to write a list of everything that you need to pick up from the supermarket. It doesn’t matter what your meals are, just as long as you are able to stick to the meal plan, and don’t end up spending more than you should be. It’s wise to plan ahead for nights out too, so if you know you’re going for a night out, get a couple of pizzas or whatever in, so that when you get home and are starving, you can pop them in the oven, instead of buying a takeaway… #protip there. Oh, and don’t forget that pre-drinks are key for saving money on nights out!!

Adjusting to life on a budget may not be easy at first, but in time you will learn to stick to the budget that you have set for yourself. The important thing to understand is that your budget doesn’t have to restrict you, as long as you’re smart about how you spend your money.

 

What are your best tips for sticking to a budget?

Thanks for reading,
Emily

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  • Jenn

    This is so helpful! I nee this right now with a wedding and honeymoon to save for. I’m going to start split up my rent and bill funds, that’s a really good place to start.

    Photo-Jenn-ic

    • Ah thank-you! I hope it goes well for you, congrats on your upcoming wedding!

  • These are some great tips! I have definitely found separating my money and meal planning work wonders. I used to always end up spending money I didn’t really have if I didn’t separate funds! And if you don’t meal plan, you slip into the trap of takeaways, or shopping whilst hungry!! x http://www.aimeeraindropwrites.co.uk x

    • Thanks Aimee! It’s so true with the food thing, if I make sure I have food in the cupboards / meal plans, then I’m much less likely to order pizza! ????

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