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Seven tips for saving money this winter


Getting ready for Christmas? Feeling that chill in the air? The Student Money Team have put some money saving tips together to try and get you through the festive period without breaking the bank.

Image of train station

1. Travel for cheap by sharing a lift or booking your tickets in advance

Travelling home for the winter break? You could get there cheaper by sharing a lift with someone you know or by finding out the cheapest way to travel e.g. Megabus or simply by asking your parents to come and get you! If all that fails, book train tickets as far in advance as possible for the best deals.

Image of cup of tea inbetween socks

2. If you pay your own bills, make sure you’ve changed the heating and hot water settings

Don’t forget to change your heating and hot water settings if there is no one living in your shared house over the winter break – you could save pounds in energy bills.

If you pay for your own energy use, then get rid of any drafts in your home by using newspaper, gaffer tape and clingfilm to save money and stay warmer!

Image of shopping bags

3. Don’t feel obliged to buy presents

Christmas is about spending time with family and friends. It shouldn’t be stressful and about getting into debt. You are likely to want to give gifts to those you care about most, but don’t fall into the trap of overspending extended family and friends of friends.

Watch Martin Lewis's advice for people buying too many gifts below: 

 

4. Don’t waste money on gift cards

If you are thinking of buying a gift card as a present, think again.  Unused gift cards are a big money earner for retailers – would you believe we throw away £300 million worth of expired gift cards a year! And if a high street store goes bust, that gift card could be worthless anyway.

5. Use Black Friday to your advantage

Many retailers offer discounts on Black Friday and in the days leading up. Be organised and buy gifts when they are on offer. Use the Keepa browser extension when shopping on Amazon to see if you are getting the best deal.

6. Make a pact with your friends to not overspend on gifts

If you are exchanging presents with friends, make a pact to only give useful gifts, and set a limit of £5 or £10 per gift.

7. Share loyalty cards with people you know

If you know someone who is doing a big Christmas supermarket shop, lend them your loyalty card so you can get their points.

One final note: Still haven’t received your first Maintenance Loan payment? Speak to the Student Money Team to get help with this: https://www.leedsbeckett.ac.uk/studenthub/money-advice/.

 


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