Living on a budget

Living on a student budget can be challenging, especially if you're still getting used to life abroad. As I reflect on my time in 2022, I set out for the UK, flying from Islamabad, Pakistan, and arriving at Leeds Becket as my new university. Leeds has a distinguished and well-known name, but it has also assisted me in developing skill sets that will be useful to me in the future. I developed habits to stay within my budget and these patterns continue to help me a lot whilst staying in Leeds.

Create a plan and find the right accommodation for you

Setting a budget each week or month is an important step in keeping track of your spending. Make a note of every expense you are aware of, including rent, utilities, transportation costs, and groceries, as well as any savings or income you have. Afterward, you can decide how much money to put towards entertainment, travel, and events based on how much is still left over. I made initial calculations before coming to Leeds based on information I found online and conversations with friends. I track my expenses daily in an app on my phone and once a month I sum them all up and divide everything into categories in a spread sheet. This makes me feel in control of my finances.

Accommodation would probably be your biggest expense. Plan it wisely. The main points to consider are whether you prefer student accommodation or private housing and where in Leeds. It might be worth considering areas that are maybe a bit further off, but are cheaper.

Pay attention to supermarket sales

Planning your grocery shopping around items that are on sale can help you save a lot of money over time. If you see non-perishable food items or home goods on sale, stock up on them, or try incorporating some store specials into your weekly dinners. Specials can be excellent, but you should be careful to avoid buying stuff you don't need or buying too much and throwing it away. When I came to Leeds I found the Morrisons store very useful because it give student discount and you will find plenty of affordable deals that can help you to stay within your budget. Also Morrisons is quite close to Leeds Beckett University.

Search for ways to earn extra money and use student discounts

There are many small things you may do to get money if you realise that your current salary isn't exactly covering everything you need it to. Maybe you might get job as a tutor for other students or babysit a few nights a week. Another option is to sell some of your unwanted stuff at a garage sale or market stall. Talking about my experience I started working in the jewellery store that was quite close to my place and it help me a lot to save money.

Make use of student concessions wherever possible, whether it’s at the movies, sports games, events, retail stores, the bank or on public transport. These discounts may only save you a few pounds, but it all adds up!

Consider other forms of entertainment

A university social life is fantastic, but if you find yourself going out frequently, it may get pricey. Consider some alternatives to your normal activities if you are beginning to run out of money. You might prepare your own feast in someone's home in place of dining out. Why not host a movie night at home instead of going to the movies?

Buy second hand

By looking for used products, you can save money on a variety of items, including textbooks, clothing, gadgets, cars, and furniture. You can shop at flea markets, second-hand shops, garage sales, online classifieds sites like eBay and Gumtree, social media forums, or you can just ask around for the things you need.

Be prepared to cut some things out

Be realistic about what you can afford, especially when it comes to expenses like rent or a car, because it's likely that your financial resources will be limited while you're at university. You must be ready to make some sacrifices if you truly want to save money. The good news is that once you start working full-time, you'll be able to start spending more because your university years won't last forever.

Final words

Following your budget while at university can assist in debt repayment and help you graduate with sound money management skills that can assist in achieving long-term life objectives. Setting up reminders to enter daily costs into your budget will also help you stay on target.