Bournemouth is a beautiful city for the adventurous. Filled with indoor and outdoor activities. It is difficult to not engage in activities across the seasons.

Apart from tourism, Bournemouth is also known for its numerous high-quality educational platforms. Every year, thousands of students from all parts of the world begin their education journey. Navigating this and keeping afloat is crucial. This article seeks to help you reduce your expenses and maintain your income while schooling in Bournemouth.

Have a budget and stick to it

Having a budget, helps you visualize what needs to be done in the month and keeps you within the confines of what you actually earn monthly.

For many who struggle with spending, your budget shows you how good or bad your spending habits are and also helps you see how much you are spending monthly on things like rent, food, and outings.

Save at least 10%

Using the 50/30/20 rule in budgeting is advised by most financial advisors. However, it is not practical for some students who spend most of their revenue on basic needs like rent, utility bills, groceries, and transportation. 

The 10% saving rule can be adopted by students to ensure that they have money set aside each month that can be used for future opportunities and investments. Look at it as paying yourself first.

Take advantage of juicy student discounts and opportunities

UK Students have access to an unlimited basket of money-saving possibilities and other advantageous offers. These include discounts, loans, scholarships, memberships,  freebies, and an exclusive list of other packages. 

It is important to take advantage of these. At Bournemouth University, there are student scholarships, access to various free support with incredible teams, tons of part-time student jobs, and student discounts that make studying exciting and cost-effective.

Splurging

It is so easy to get so cut up in paying bills and saving pennies here and there that we forget to take care of ourselves. Though splurging is easily associated with extravagant spending it is the attitude of spending on one’s self freely and without restraint. 

Student experience is important, which is why it is good to have money set aside for spending on yourself. Besides, there are a lot of cheap fun opportunities in Bournemouth.

Track your expenses

What happens next you might ask, well, you track your expenses. Tracking your expenses traces where your money went within a selected time. You can identify how healthy your money habits are and sieve out money-grabbers that make it difficult to get value for money or to reach high levels of satisfaction. 

You can use various methods such as writing it down, using an Excel sheet, or taking advantage of financial apps that do this automatically for you such as Monzo, Revolut, or YNAB.

Although there are tons of ways to save money and earn more, this list has helped me to manage the resources that I have available while I study at Bournemouth University. I am confident that they would help your money work for you. 

Find out more

https://www.bournemouth.ac.uk/why-bu