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11 February 2019

BUDGETING in the New Year

News, Student Life

It’s February already, and it seems ages since Xmas and the New Year!

Like many other students, you’ve probably spent more than intended over that festive period, and now that Uni has started again, you’re suffering financially. Bank accounts are at their minimum, and overdrafts at their maximum!!

Accommodation fees have been paid, and you’ve probably been juggling Student Finance Fees, effectively “robbing Peter to pay Paul”!

Well, now is the time to get back on track, and there are many things you can do to help yourself.

Here are a few ideas to get you started

calendar

Budget & plan accordingly

  • Before going on your weekly shop, sit down and figure out your budget
  • Create a menu for what you’re going to eat that week. Then buy food accordingly
  • Research recipes that use the same ingredients to cut down on wasting food

Buy Frozen Food

  • Don’t shy away from the frozen aisle. Frozen meat and vegetables are often cheaper
  • The shops are only minutes away, so the food won’t defrost in that time.
  • The food isn’t going to go “off” if it’s frozen, so much less waste.
  • Agree with house-mates in advance, and perhaps share one freezer for the “group” food.

Buy “own brands”

  • Are you a brand snob? Do you find yourself buying branded versions of store cupboard basics? It doesn’t really matter about the brand. Always go for the supermarket own brand rather than the pricier product brand. It’s usually the same but a lot cheaper

Buy as a group

  • You live in McComb accommodation, so use this to your advantage. Look for offers, buy food in bulk, and split the bill with your house-mates. This means you’ll be able to take advantage of the savings but don’t have a surplus of food
  • It is also a good idea to take turns cooking. This can be a good experience and can save you money
  • Eat together at least a couple of times a week. You’ll get to know each other, save loads of money, and enjoy yourself at the same time.

Buy from the clearance section

  • If you live near to a supermarket, this is a great little tip to make the most of reduced price food. It involves calculating the best time to visit when the clearance section will have the most items in. Traditionally this is always around half an hour before they shut.

Asda, Aldi & Lidl

  • These are going to be the biggest weapons in your frugal food shopping arsenal. 99% of the time they will be cheaper than other shops. Even if it’s a 30 minute walk away it’ll be worth it (or bribe a friend that drives with the promise of a free dinner)

save

Review Finances

  • Assess the next main commitments such as McComb accommodation fees
  • Calculate the amount needed to be saved weekly from your allowance
  • Write down what is left over for food and everyday costs, then STICK TO IT!
  • Remember to build in some enjoyment for yourself (pub, cinema, retail therapy) otherwise you’ll end up feeling miserable

Hopefully I’ve given you some ideas to help you get back on the right track again

Good luck

By Hannah Wright

Hi my name is Hannah Wright I am 22 about to go into my third year studying marketing with digital communications at Edge Hill University! I have a real weakness for shopping so In my spare time I’d either be in shops or on my laptop shopping online! I hope my blog post will be helpful and if you have a particular topic you’d like to know about please done hesitate to get in touch!

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