16 Ingenious Ways to Save Money

Image thanks to lockstockb

So it's come to that time of year again when the loans come through and you find you bank credited with lots of money just waiting to be spent. But managing your money is really really important. On earlier posts I explained ways of increasing the amount of money you can spend, and here are some more ideas to consider to save those all important £££.

Learn to say no. If you master this art well, you'll be able to avoid spending money needlessly.

Make money online. Many companies now advertise on the internet for editorial writing, proof reading, blog writing, review writing, etc. and you get paid for it. You could also apply for websites which pay you to take surveys. They can pay from anything like 50p to £3 per survey!

Get a part time job or ask for extra hours at your work place. If you feel working extra won't affect your academic life then by all means work! And don't be fussy where you go either. Many places which you might not have thought of before may pay really well, e.g. Mc Donalds. And, it stops you from spending more money!

Shop online. Many people underestimate shopping online. Whilst being in the high street is good fun, many websites that have amazing clothes at cheap prices don't have shops. For example Desire Clothing or Boohoo.com both do catwalk style clothing at affordable prices. Also, it doesn't necessarily have to be clothing. Bargains can be picked up from Ebay and Amazon as you pay half the price you do in the shops.

Consider pay as you go. Contract mobiles are awesome if you do actually use the limits you are given but if you aren't using the minutes or texts then consider if you are actually saving money whilst having a contract mobile. Many companies now offer pay as you go packages were you top up a certain amount each month, e.g. O2, and give you unlimited texts for the rest of the month and free internet! Bargain!! Also, you aren't tied into a contract for 18/24 months.

Sell your old stuff on Ebay. Whilst shopping on ebay may save you money, selling some of your unused things can help you raise a bit of cash too.

Dont always go for brand names on the high street or in the supermarket. In many cases, you are literally paying £20-£30 more just for having a brand name on your clothing. So consider going for the less expensive items and don't feel like you have to buy the brand names just because all your friends do. If you can't afford it, don't buy it! Also, brand names in supermarkets are generally quite similar to the supermarket own brands, e.g. bread and milk. You will save so much money by doing this.

Ask yourself whether you need the service/item/whatever it is you are buying. By doing this you may save yourself ££ in the long run. And remember, don't give in to peer pressure!

Walk/cycle/bus to work or university. Not only will this save you the money you spend on petrol if you drive or busfare, you will also get lots more exercise in the process and this equals a healthier you!

Cook home made food and avoid ready meals. Ready meals tend to be much more expensive than if you cook your own meals like spaghetti bolognese or chilli con carne. This is because if you make meals like this for 4 people, you can freeze the rest and it lasts for another 3 days! Home cooked meals also mean they have less salt/fat/sugar and so are much more better for you. See my Food Fairy Series for ideas.

Take a packed lunch to work/uni. Doing this saves you £3-4 per day which you might spend in the shop on a sandwich. Over 3-4 days you are saving up to £16 per week alone! Plus, you can make your lunch just how you like it and while your eating it you can revel in all the money you are saving!

Use 0% student overdrafts wisely. Have you ever thought about making money from lenders? One way of making some money long term is by using the student overdrafts whith most having a 0% interest rate and don't expect you to pay it until you've finished your degree. Put the whole amount into a bond which earns you a higher interest rate if you give it to them for a long period of time and you could be earning buckets! Then, once your degree has finished, pay the whole amount back and you can keep the interest at no extra cost!

Keep a record of everything. By doing this it is making yourself more aware of what your spending. Keep all your receipts and compare with your bank statements and this will draw your attention to the things you need not spend on.

Always ask if student discount is available. Many shops now offer student discounts to encourage you to shop at their store but some are less advertised than others. So make a habit of always asking and you could save yourself some money.

Only buy second hand books. We both know how much new books cost for your course and so finding the ones you need on websies like Amazon can save you a fortune. Although the second hand ones may not be in new condition, we can't be fussy when saving money!

Compare prices on things such as contents insurance, car, bike and travel. Compare the Market and Go Compare both offer comparisions on not only car insurance but other products from broadband to savings accounts.

Useful links:

http://theuniversityblog.co.uk/
http://poorerthanyou.com/