A university education is one of the biggest investments you’ll make. Understanding your budget and sticking to it (sometimes easier said than done!) is an important skill for university and beyond. Read on to discover some of our quickfire hacks to make your money go further.
1. Make the most of student discounts
As a student at the University of Essex Online, you’ll be eligible for a range of student discounts and freebies. There are a range of student cards to apply for and you’ll be able to save money on transport, clothes, meals, events and much more.
2. Create a budget planner
Sometimes seeing everything laid out visually is an easier way to gain an understanding of your finances. From Microsoft Excel to Canva, there are so many ways to formulate your income and expenses in a way that makes it easier for you.
3. Manage your money on the go
There are plenty of free money management apps available to help you save while you’re out and about. Set up separate pots for different purposes, use shared spending to split bills with friends and get notified when your bills have gone up.
4. Use a savings calculator
If you’re thinking of setting some goals for the future, it might be worth working out how much you can save and the amount of interest likely to be gained. That way, when it comes to thinking about life after university, you’ll be prepared for the next steps.
5. Apply for course discounts and scholarships
Our students come from all walks of life and we offer a range of finance options to reflect this. It’s worth seeing if you’re eligible for discounts, scholarships, student finance or payment plans, otherwise you could be missing out.
6. Purchase second-hand items
Not only is it cheaper buying second-hand, but you’ll also be doing good for the environment and making sustainable choices. Charity shops and online marketplaces where you can browse second-hand items are a good place to start.
7. Review your subscriptions
It’s easy to sign up for subscriptions and memberships then forget they’re there. Check if you’re paying for anything that you’re not using regularly and see if there are any cheaper plans available to switch to.
8. Build an emergency fund
Having an emergency pot of cash for an unexpected bill can be a life saver. By building an emergency fund and putting away small amounts each month, you’ll be in a stronger position down the line if you need it.
9. Open a bank account to organise your spending
There are lots of bank accounts with money management tools built in. Get notifications when transactions are made and keep track with monthly reports. If you’re an international student, having an easy way to convert currency is also useful.
10. Pay course fees in instalments
If you’re struggling to get control of your finances, paying for your course in monthly instalments, rather than in one go, could be the answer. You get to save up in the meantime and allocate your money over a longer time period.
Why choose the University of Essex Online for your studies?
There are many reasons to choose an online course with us:
- cost-effective experience compared to on-campus alternatives
- receive a full refund in the first 21 days if it’s not for you (terms and conditions apply)
- our fees cover all course materials, assessments and resits
- rated Gold in the Times Higher Education (THE) Online Learning Rankings 2024 for excellence in online learning
- join a global community, with students from over 140 countries worldwide
Interested in seeing if you’re eligible for financial support? Visit the discounts and scholarships page to learn more! Alternatively, explore the subjects page to see which courses are available.