Last Updated on February 12, 2020 by Melissa S.
How To Make The Most Out Of Your Weekly Budget
Having a weekly budget is essential for university students. For many students, this is probably the first time they have left home. If you are about to start university, or are currently at university and finding it difficult to juggle your studies with your domestic life, then this is for you. Learning how to budget your finances will really help you long after you have graduated university.
The first thing you need to do is establish your income, and work out how much of your income will need to go on living expenses, and how much you can save. Yes, saving is just as important when you are on a small budget, as it will help you get into the habit of saving and ensure you have an emergency fund.
Eat at home
Instead of eating every meal out, as can be tempting to do when you have both physical and financial freedom, save money eating in. If the social pressures of university make you want to eat out, make home-made food into a social event. In a similar way to the popular programme Come Dine With Me, creating a regular social night with friends can make staying in an enjoyable experience. Go for themed nights each week, and take it in turns to host the evening. You will have fun with your friends, and, depending on how many people join in, will only have to cook for everyone (and yourself) once a week.
Plan your meals
Organisation is key when it comes to budgeting. The same goes for healthy eating. If you are struggling to eat well on a budget then a pen and paper will be your best friend. Creating a meal-plan that you can stick to will make food prep a lot easier. It is also an excellent idea to share meals with your housemates. If you spread the cost of your shopping across a few people you will save a lot of money. That goes for cooking duties as well. If you all eat the same meals, then there will be much less clean-up to take care of.
Make the most of online deals
The thrifty among us will know that some of the best deals can be found online. Not only food deals in supermarkets, but on websites like Sign Up Offers you can find all kinds of deals to save you money on high-street brands.
Everyone seems to be vegetarian or vegan these days. And for good reason too. Environmental, ethical, and health are some of the main reasons people choose to go vegetarian or vegan. It can also be cheaper to opt for vegetarian options. With so many options to choose from in supermarket aisles, it is easier than ever to swap your meat options for veggie options. Flexitarianism- the overall reduction of meat from your diet with a more flexible approach than being strictly vegetarian, is very popular at the moment. Consider reducing your meat intake and see if it makes a difference to your budget or your health.