Author: Erin Pallott

The media is full of advice on how to save money. Some of it is useful (Opening Lifetime ISAs, guides to investing) and some of it is not so useful (stay at home, stop eating avocado toast, buy a house). The 2021 Student Money Survey highlights how little money many students have to live on each month, which is far lower than average living costs. A lot of students really struggle with sticking to a budget, and 10% of students say they’ve never tried to. I’m a big fan of learning little ways to save and make money that I can use to still afford my favourite occasional meals and nights out. I’ve put together my favourite money-saving ideas that don’t just say “spend less”.

1. Follow social media accounts

There are many resources out there to help you manage your money. Martin Lewis/Money Saving Expert is great for bigger ideas like switching bank accounts and where to put savings. For everyday tips and tricks, my favourites are @mrdealsmanchester (Instagram), r/beermoneyuk (Reddit), and savethestudent.org. @mrdealsmanchester is especially great for all Manchester-based deals. He is the local expert on all things money-saving, and posts lots of discounts and money-making opportunities every day!

Paul Blakeman – a.k.a. @Mrdealsmanchester

• What inspired you to make your account/start money blogging?
  “I had been finding out little tips and tricks to save money all these years and spamming my friends with them, and they always said I should start a blog. Then I got furloughed, had a bit more time on my hands and this gave me the time to start thinking about writing posts and sharing my deals and personal finance tips with the world (/a few thousand people in the UK at least!)“
• Do you have any favourite methods of saving/making spare cash?
  “Most of what I want to say is in this article already – to save money, always use vouchers, always use cashback websites and quite simply, try not to buy stuff you don’t need. I don’t base my spending on my salary (as many personal finance experts do), because this would lead me to spending a lot more than I need on certain categories. Instead, I have a budget for each category – I eat out a lot, I drink lots of coffee, I travel, but I do it all at much lower prices than others, and I am able to save a lot. To make spare cash, make sure you switch your bank account for all the free money (and energy if that ever normalises,) consider doing surveys (well-paid ones, not ones that pay pennies on the hour), use apps such as BeMyEye or Shepper to make money.“
• Where can people find you?
  Instagram: @mrdealsmanchester and Tiktok: @mrpersonalfinance

2. Use your freebies!

Phone companies have regular freebies such as O2 Priority (accessible from one-off top-ups) and Vodafone Rewards. I pick up about £10 worth of free coffee and food every week, which really adds up. I sign up to all websites with a spare email address so I can browse for offers before I spend, and companies love to send vouchers and freebies on your birthday! Also use up any free trials you can, as long as you trust yourself to remember to cancel before paying.

3. Cashback Apps

Another way to slowly build up savings is through cashback apps. Some like TopCashback and Quidco will track your spending when you visit websites through them and give you money back on purchases (works on lots of fashion brands). Others like Shopmium show you items in shops you can scan after purchasing and get a partial or full refund. My current favourite is Airtime Rewards. This one is a partner of many phone companies and tracks your spending at many popular shops, which builds up cash to go towards your phone bill.

4. Why pay full price?

The thousands of restaurants and businesses in Greater Manchester are all competing to attract new customers, which is great news for us. As well as regular student discounts, you can find loads of vouchers and discounts on sites like Groupon, Wowcher and a local version: Confidentials (this one has a very generous referral scheme, meaning you can eat for free if you play it right!). You can still go out and try great places but pay a fraction.

5. Get paid to sign up

Before you sign up for any new app or website, check if they offer any financial incentives. And if a friend is going to sign up for something you already use, check if there’s a referral scheme. Lots of sites/apps offer bonuses to the referrer and the referee. You can also look out for studies and focus groups that will pay you for your time.

None of these tips are full alternatives to effective budgeting, but I hope they are at least a helpful starting point to think about how money can be stretched. They’re also only small ideas, but I encourage everyone to spend time researching how to improve their savings and slash their bills (I will leave those tips for the experts to explain). Up to three-quarters of students say they wish they’d received better financial education before university and with the sharp rise in living costs, there’s no better time to start learning money-management skills for yourself.

If you are struggling to make ends meet, please reach out to find out what support is available. UoM offers financial hardship funds to help with living costs. Information on how to apply for assistance can be found here: https://www.studentsupport.manchester.ac.uk/finances/funding-opportunities/all/living-cost-support-fund/