► Budgeting

 

If you feel like you're cash is spiralling out of control, have a look at these handy tips to make your cash go further!


• Make sure you know all your bank’s charges. If you spend over your overdraft arrangements you can be charged per day. This is no time to put your head in the sand about your finances as you can end up in a debt situation that spirals out of your control.


• If you do over spend on your overdraft make sure that you speak to your bank. Occasionally they can be very understanding and organise either an extension on your overdraft, or an affordable rate to get back on track.


• STAY AWAY FROM STORE CARDS. It seems so tempting but unless you are extremely financially savvy they ultimately cost you a lot more than they’re worth.


• Don’t use cash machines that charge you for withdrawals. It’s an easy way for your money to trickle away in little bits. Once you start adding it up it really does make a difference.


• Before a night out, decide what you’re going to spend and stick to it. Not only will this help you control your alcohol intake, but it also saves you taking your debit card out with you and making one of those large drunken withdrawals… we’ve all done it.


• If you have long hours in University, take a lunch in with you. I can’t stress enough how much money you will save if you don’t buy your lunch everyday.


• Put what you need for rent into a separate account – then don’t touch it! If you put aside all your non-variable costs then you know exactly what you have left to spend. Easy.


• Ever thought about giving up smoking? If you’re worried about money then cigarettes should be the first thing to go. They’re expensive and unnecessary. End of story.


• Remember that if you do get yourself into financial difficulty that help is at hand. The Student Advice Centre offer expert help with financial troubles and are very understanding when you’ve just been a bit frivolous with your cash. Don’t worry about being judged, they are a friendly ear that’s there to get you back on track. Use them – they’re here for you.


• Shop smart! If you’re one of those people who comes back from the supermarket with a LOT more than you planned, consider internet shopping. You can make a list and stick to it. Although you will be charged a delivery fee, this can be minimised by doing a group shop with your flatmates and splitting the cost. It certainly works out cheaper than being distracted by offers on food you don’t need.


• If you live close enough to Uni, walk instead of getting the metro. Try putting your metro money aside for a week and then seeing how much you’ve saved up.


• Like a takeaway? (Doesn’t everyone?) Restrict yourself to one every couple of weeks and stick to it! Newcastle has so many offers on that it doesn’t even have to be expensive when you do.