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Students beware: The biggest term-time money wasters

Olivia Newman
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Olivia Newman

There are lots of ways your cash can quickly disappear once term has started.

Watch out for these money-saving danger zones from Student Beans – the difference to your bank balance will be revolutionary.

Unused memberships and subscriptions

Paid memberships can often be great money savers, however they only work out if you actually use them. Always check before signing up – are you going to have time to go swimming 5 times per week, will you read every issue of a monthly magazine and do you need unlimited movies?

Supermarket traps

The next time you do a food shop, watch out for big signs promising ‘bigger value’ or ‘family value pack’. Flashy slogans will often trick you into buying things in bulk when you don’t need to. Get organised and plan your weekly shop in advance – stick to your list and focus on getting all your essentials. You will also save time by not having to pop to the shops every day.

Buying branded medicine

500mg of paracetamol is 500mg of paracetamol. By law, if the active ingredients listed on a packet of painkillers are the same, then chemically they must be the same. 16 own brand Ibuprofen cost 30p from a well known supermarket, but the branded equivalent costs £2. Most of the additional cost is for branding and packaging, and nobody needs to pay extra for that.

Minimum service charge

It’s a costly mistake when you run out of cash whilst out and you have to either pay an extra charge for using a cash machine inside a venue or a you have to spend £5 before you can pay on card. Inevitably you end up spending more than you planned, so make sure you carry enough cash and try to keep a mental map of where free cashpoints are in your town.

DIY beauty hacks

We all like to make an effort to look our best, but when you factor in a student budget it can sometimes be an uphill struggle. However with a little bit of creativity, you can avoid spending money on expensive products. Did you know talcum powder can be used as dry shampoo and cocoa-powder works as blusher? Also add moisturiser to your mascara to make it last longer and use aloe vera gel as a cheap alternative to expensive conditioners.

Nights out with your bank card

Taking an unlimited supply of cash with you on a night out is likely to be a bad idea and something you might regret the next morning. You will often end up spending more than you originally planned. Leave the cards at home, but just make sure you have enough cash left over at the end of the night for a taxi home.

If you sort out these money-wasting danger zones, then your bank account will literally be singing and dancing for joy. Get more great money saving tips, student discounts and freebies from Student Beans – they exist to make student life a little more awesome.