by Eden, BSc(Hons) Architecture
Top tips to make your loan last
As a student, one of the most daunting aspects of moving to university is money. For most people, the maintenance loan given by the government leaves little room for extra expenditures such as going out for food or buying new clothes. One way to improve this is to budget and spend wisely. I began studying at UWE in September 2018 and quickly realised that I needed to budget in order to make my maintenance loan last for the entire year! This blog will give a few top tips which will hopefully have a huge effect on the amount of money that you will spend, and save, throughout your studies whilst also enjoying the student life!
1. Choose accommodation with shared bathrooms
At UWE, there are many different accommodation options depending on how much you wish to spend and whether or not you would prefer an ensuite or a shared bathroom. For my first year at University, I lived in UWE’s Wallscourt park on Frenchay Campus in a flat with shared bathrooms. In my flat, I shared 3 bathrooms with 8 people. Although many people do not want to share a bathroom, it really isn’t as bad as you might think. Because there were 3 different bathrooms to use, even if your usual bathroom is being used, you can just use a different one! By staying in Wallscourt Park with shared bathrooms, I saved approximately £1000 when compared to my friends who stayed in rooms with an ensuite bathroom. This is a serious amount of money when you are trying to budget!
2. Shop wisely
When starting out at university, I had never really gone for a weekly food shop before. With many different shops around Frenchay Campus such as the University shops, Asda, Lidl, and Sainsbury’s, it took me a while to figure out how to save money on food and which shops to use. After shopping at each of the shops mentioned, I would 100% recommend Lidl. Lidl is the closest non university-owned shop to Frenchay campus and is by far the cheapest. On a weekly food shop, I would save around £10-15 when shopping at Lidl when compared to Asda or Sainsbury’s.
3. Choose a good student bank account
Another useful tip is to choose a student bank account which gives you a large interest free overdraft. When I began studying at University, I set up an account with Santander which gave me a 4-year free railcard, saving 1/3 on all rail travel, and an overdraft of up to £1500 interest free. This was incredibly useful when I was required to pay my rent before my termly loan instalments had entered my bank account. The overdraft is essentially the bank giving you money for free whilst you are studying. Though I chose Santander, I would recommend looking at some comparison websites before as different banks offer different overdraft limits and extras each year.
4. Take the bus or coach
Although this tip may seem obvious, I know so many people who travel home using the train or get an Uber/Taxi back home after a night in the city centre. The cheapest way to get to/from Bristol city centre is using the metrobus services. These run 24/7 and a night ticket only costs £2 which lasts from 7:00pm until 4:30am. That’s only £1 each way! The metrobus services are regular and stop at Frenchay Campus, it takes around 20 minutes each way from the campus to the city centre. By using these buses, you will save at least £10 when compared to if you take an Uber or a Taxi home. When travelling further, I would recommend looking into coach travel. This option does take longer, however, you will save money. I bought a coach card for £12 which allows me to save 1/3 off national express coaches for a year. As I travel from Bristol to Plymouth once a fortnight, this definitely saved me money. A return coach trip was around £20+ cheaper than if I took the train!
5. Get a job
Another obvious way to save money is to work. The university and shopping areas always have jobs available! There are direct bus services from Frenchay campus to both Cabot Circus and Cribbs Causeway. The University hires students to work in the campus bars, shops and cafes. Also, UWE hires student ambassadors which involves casual work to help the university at events such as open days and UCAS fairs. The university jobs all offer hours which may work around your studies, whilst also paying respectable wages! Vacancies from UWE may be viewed online on the Students union ‘Jobshop’ page.
Read more about your fees and funding options at UWE Bristol