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Top money saving tips for students with low incomes

While payday loans can help get on top of your finances, the last thing you probably want as a struggling student is a high interest loan, especially if you have already taken out a student loan. Managing our money is something we all need to learn and there is no better time to start learning than when you’re a broke student. If your income is looking a little meagre and you’re finding it difficult to keep on top of your money, here are a few tips to get you started.


You might not have much experience with organising your finances, but now is the time to start. Don’t let your money get away from you lest you end up at the end of the month with nothing but pot noodle to eat and no shampoo. Work out your living expenses – including rent, bills and food – and figure out how much of your income you need to be spending on what. If the amounts don’t balance out, you need to start thinking about how you can cut costs. Once you have organised a budget you need to stick with it.

Make your own food and know what you’re making

Many students make the mistake of thinking that they can get through university without learning how to cook, but if you have any intention of saving money then you should be learning the basics at the very least. By regularly shopping for food, cooking daily meals and stocking up on long-lasting ingredients you can save money by making meals last longer and mixing up meals from left overs. The first thing you should buy when you start shopping for foods is rice, pasta and pastry. These are the three best ingredients you can use to stretch a meal and make the most of your left overs. Now you won’t be wasting money with meals on the go.

Go for second hand

Many universities have Facebook pages and forums dedicated to students passing on things they don’t need to other students. You can buy second hand study resources, furniture and appliances to get you through university without having to waste money buying everything brand new. The best time to look for these things is towards the end of term or the end of the year when graduating students are trying to get rid of their things to avoid having to take them home with them. Talk to your university about getting second-hand supplies or use apps like Spock to find the things you need for a little less than you might pay elsewhere.

Go digital

The gadgets we own today can do wondrous things and if you are capable of purchasing apps on your phone and have access to the internet, there are a lot of ways for you to save money. Today you can download apps that give you promo codes and discounts in certain shops that you should keep an eye on if you want to get some good deals. Using e-tickets as opposed to paper ones for travel can also save you money sometimes and downloading the apps for rail lines and transport tickets also means that you get news and alerts when prices go down. If your course requires you to buy a lot of books, consider downloading the kindle app. Instead of buying paper books for £10 each you can get them for only a couple of quid as an eBook and English students would be happy to know that most of the classics are free to download.

Photograph by Public Domain Images

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