The student world is full of new adventures and firsts. It’s a world away from parents and one where you can really learn who you are. Study invariably comes a close-ish second to the social sides of life and with this comes a few extra you might not have considered.

Studying is cheap, tuition fees and textbooks are not. Then you need to add in the cost of living, drinking and partying. Suddenly student life has become one of the most expensive times of your life. Here are some tips to help you make the most of your money.

  1. Find a job

It might seem like a no-brainer and the most obvious of tips, but you’d be amazed at how many students don’t believe they have the time to get a part-time job. One night a week, a few hours on a Saturday morning, or even an afternoon shift when you have no classes or lectures. A four-hour shift would be enough to pay for a night out and if you’re working evenings, it means that you can’t be out spending money. One night off a week is not going to kill your social life, but your bank balance will thank you.

  1. Loyalty cards

You would be amazed at how much you can gain from loyalty cards. If you are getting every fourth coffee for free, then it is effectively 25% off. You might not think that you visit a certain shop often enough, but that’s when you share with your friends. Don’t have one loyalty card each, instead have one loyalty card between all of you and the points soon mount up and the rewards will flow.

  1. Utilise your student loan

If you have taken out a student loan to pay for your tuition fees or to help pay for your accommodation, then use it to pay for these. A student loan is one of the lowest interest rates you will ever be offered on a loan and it makes great sense. If on the other hand, you haven’t taken one out, you should consider doing so. Imagine if you took your full loan amount and invested it in an ISA or a high-interest rate saving account, could you make money on your investment? It is worth asking the question.

  1. Get A Plan Car Loan

Having the freedom of living away from home is an amazing feeling. Being having your own car is another level of excitement. If you don’t think you have the money right now to buy a car outright, it could be worth considering contacting CarFinance Plus for a car loan. A low repayment rate will allow you to pay it back over a longer period and get your car right now.

Not having the money to have fun is an awful feeling and one you can avoid if you follow our four simple steps to managing your finances.