It's safe to say, we're all spending more on goods and services than we would have done two years ago. The good news is that all hope is not lost. The Advice Centre has collated information from a wide variety of sources to help you not just save but make money!
We’ve all heard about the cost of living crisis but you may be wondering what it really means and how it affects you. In short, different factors such as increased demand resulting from the COVID-19 pandemic, disruptions in supply chains and soaring energy and fuel prices, have led to the increased rate of inflation. It's safe to say, we're all spending more on goods and services than we would have done two years ago.
The good news is that all hope is not lost. The Advice Centre has collated information from a wide variety of sources to help you not just save but make money!
How to save
Bills and Rent
It is important that you do your research when looking for energy providers in your new home. Your gas and electricity would usually be estimated until you provide a meter reading that starts on the day you move in. So, you must do this as soon as you move in. Save the Student has an excellent article on the best energy providers for 2023. However, it is important to extend your research and consider other suppliers.
For services like water and broadband, it is also important to scout around for the best service providers and contracts that work for you and your flatmates. The good thing with water suppliers is, that Egham and Englefield Green have standard suppliers so you don’t have to go searching. Both areas are covered by Affinity Water. For the best broadband deals, you may also find this article useful.
Food and Drink
When shopping for food and drink, it is important that you always make a list and stick to it. Start by looking at your cupboard and fridge to find out what you need so that you avoid wastage and overspending. Supermarkets like Lidl, Sainsbury’s, Iceland and Tesco are usually the best for quality and price. Signing up for loyalty cards also helps you to save points which you can use to get vouchers or save on certain products. Make sure you look online or check out the stores to compare prices. Don’t forget to take your reusable bags with you to avoid paying for a new bag every time you shop.
Transport
To save on your transport we suggest getting a railcard. You can get up to a third off on eligible fares. Costs start from £30 a year, or you can get them for free with certain student bank accounts like Santander’s 123 Student Current Account. Don’t forget to also show your Student ID Card on the White Bus (441 &500) to get a 33% discount on your trip when travelling in the area.
Shopping
For clothes shopping and other activities, it's always a good idea to sign up with platforms like UNiDAYS and StudentBeans, to get discounts on fashion items, travel, tech, health & fitness and more. Remember to keep looking out for student discounts and deals on websites when shopping online or in person.
Making money and receiving support
Part-time jobs
Working a part-time job is a great way to supplement your student loans and other earnings. Our article on finding a part-time job is a great place to start.
Financial support
You may also be eligible for bursaries, scholarships and other allowances. For students registered with DSA, you can check if you are eligible for a DSA allowance. Some may be means tested so be ready to provide the relevant evidence.
Budgeting advice
The University has a Financial Wellbeing team who should be your first point of call if you need financial advice. They have great guidance on budgeting and other resources to help you with your money.
There are lots of helpful websites, apps and organisations out there that you can use to budget your income. We’re happy to help you with navigating your finances so that you’re ready to fly solo after uni - just ask for help if you need it.
- Which? - A great place to learn about money and get free independent advice.
- Benefits Calculators - If you’re not a full-time student, see if you’re eligible for any universal income.
- Turn2Us can advise you about financial help available after you graduate.