5 ways to make your student loan last this time


As students, there’s nothing more tempting than going on a huge shopping spree as soon as the student loan hits your bank account and you see those extra 00s. It’s dangerously tempting, to say the least. Once again, you tell yourself “don’t do what you did last term and leave yourself with no money again” - but will you actually listen this time?

Today, I’ll be sharing my tips on how to be smart with your money this term and make it last through the summer months. From planning in advance to being savvy about where you shop, you CAN make your student loan last this time.

1. Split your money into weekly amounts

Counting weeks

Work out how much money you’re able to spend per week and remember to allow for any bills on certain weeks. If you write down whatever you buy, this helps you to make sure you don’t go over your weekly budget. The best way that I’ve found to stick to this weekly budget is by taking that money out of your account per week. I don’t know about you but I find it a lot less appealing to spend cash because I can see the amount going down in front of my eyes.

2. Be smart with train travel

Train travel

First, buy a railcard if you are travelling by train as it will help you to save loads of money in the long run. Then, to get your train tickets even cheaper, make sure to book them as far in advance as you can - the closer it gets to when you want to travel, the more expensive it becomes.

3. Shop around

Shop around

It’s all well and good buying an item from the first shop you go into… until you later find it elsewhere for a cheaper price. Make sure you do your research before you buy something to see if there’s a deal somewhere else, especially if that somewhere else also does student discount. Even if the item is only 10% cheaper, it definitely helps in the long run.

4. ‘No spend' days

Not spending money

In my dire attempts to save money last term, I implemented one or two ‘no spend’ days per week. That’s right; no Costa in between lectures, no late night ASOS order as a mid-week ‘pick-me-up’ and strictly NO Domino’s pizza when you can’t be bothered to cook. I’ve found this to be one of the most effective ways to save money.

5. Find a part-time job

Part-time job

If you’re still struggling, finding a job is the best way to get some extra money and to have something to do when you’re not at university. Not only is it extra experience to add to your CV, it means that the extra money you earn can go towards that thing you’ve been wanting for ages but you just can’t justify on a student budget.

So, there’s my practically effortless ways to make your student loan last this term. What are your top tips for spending your money wisely?