By Amberina, BSc(Hons) Forensic Science student.
Final year student, Amberina, shares her tips on managing her money at UWE Bristol. She tells us how she saves money in three key areas: money management and budgeting, technology and study resources, and socialising and leisure. Keep reading to find out more.
Amberina’s story
When I started my Forensic Science course at UWE Bristol, I wanted to learn how to manage my finances so I could immerse myself in student life. This would allow me to spend my free time doing the activities I love, without having to stress about whether I could afford my rent and bills.
Now I’m in my final year, I wanted to share some strategies with you that have helped me stay on top of my finances while studying.
1. Money Management and Budgeting
Try categorising your expenses into 2 different groups: essentials such as rent, bills, and groceries, versus optional spending such as nights out, leisure and dining out. This clear differentiation will help to guide your budgeting decisions tailored to your financial priorities.
I opened two different student bank accounts to stick to this, which offered me extra incentives such as a 4-year railcard. I used my Santander student account for all my essential spendings – this is also where my student loan came in. I then had a separate Barclay’s account for my non-essential spending. I also set up a separate savings account for unexpected expenses and emergencies as a financial safety net.
Platforms like Monzo provide a hassle-free way to categorize your expenses without the need for separate accounts. With Monzo, you can create different spending pots within a single account and get a real-time overview of your spending habits. These pots act as virtual compartments, allowing you to allocate funds for specific purposes. I’ve also recently started using Monzo’s ‘round up’ feature, which rounds up transactions to the nearest pound, automatically saving the spare change in a separate pot.
Creating and sticking to a budget has been a game-changer, especially in my first year. You can use an Excel spreadsheet or apps like ‘Emma’ and ‘Budget Planner’ for a tech-savvy, user-friendly way to track your spending. Tracking my income from my loan and managing expenses like rent helped me visualise my financial situation clearly. I found it was particularly useful to have a rough estimate of my outgoings during my first few months at university.
2. Technology and Study Resources
My tip here is to wait until you start your course before you buy your core textbooks. They’re probably available online, or you can borrow them from the loan scheme if you prefer a hard copy. UWE Bristol’s online library is a goldmine. We have access to a huge range of journals, articles, and even sound recordings which can be great research tools when it comes to coursework and assessments.
In my first year, when my laptop decided to clock out during exam season, the 24-hour computer access at Frenchay library saved the day. Having access to reliable tech resources has been a necessity. The free laptop loan scheme offered by UWE Bristol has also provided an added layer of reassurance.
Making smart use of communal spaces like the library lounge has become a strategic move to curb my campus food expenses. Beyond being a study nook, this area served as my go-to spot for reheating meal preps, ensuring I wasn’t splurging on food from the campus food outlets. Plus, a great way to save on energy bills in the winter is embracing studying in the warm on campus.
3. Socializing and Leisure
First tip – don’t miss out on the events put on by the Students’ Union. Free meals on Wednesdays and Fridays are a lifesaver when you need to save money on living costs. They’re also a time-saver when I need to get work done on campus, and don’t want the hassle of heading home to prepare, cook and eat dinner.
From mocktail making with free pizza to spooky pumpkin carving, these events are a great way to make friends with other flats at the beginning of first year. The Student Life team also offer cheap ticketed events, such as Christmas trips to Bath and Tenpin Bowling. Beyond the SU events, it’s worth exploring local community activities – Bristol often hosts free or low-cost cultural events, festivals, and gatherings.
Another idea is to host potluck dinners or game nights with friends. It’s a fun and cost-effective way to socialise, and everyone gets to showcase their cooking or gaming skills. My housemates and I will often make dinner together and then have a movie night or rotate hosting dinner parties with other houses.
Speaking of food, exploring student discounts and loyalty programmes at local restaurants can be a hidden gem. When it comes to eating out on a budget in Bristol, Unidays and Student Beans come to the rescue with fantastic weekday food offers.
Finally, the free MOVE sessions at the Centre for Sport have been a highlight of my time at UWE Bristol. From dance to kickboxing, there’s a huge variety of classes with more than 100 weekly sessions, which you can book on the UWE Bristol Sport app. It’s not just a fantastic way to stay active, but it’s also a vibrant, inclusive and energetic social hub where I’ve made new friends.
Final thoughts
By establishing a good routine and finding a work-life balance, I’ve been able to take a healthy approach to managing my finances at UWE Bristol. I seize opportunities to save, explore, and relish every aspect of university life. It’s all about finding that sweet spot between financial stability and getting the most out of your student experience. These tricks have kept both me and my bank account happy, and I hope they do the same for you.
Find out more about cost of living support for students at UWE Bristol.