Student Saving Hacks with the Royal Bank of Scotland

12:00:00

With graduations happening all over my timeline it's had me thinking about my time at uni and how things have changed so much in the last year. I've moved down to Leicester and got a "grown up" job, but it doesn't seem like that long ago I was still just a wee 4th year trying to figure what I wanted to do.
Student Saving Hacks with the Royal Bank of Scotland | Wasted Little PJ Scottish Male Lifestyle Blog

Lucky I stayed at home during my 4 years at uni, and even though there may be some elements of the student life I never experienced in halls, I think I was quite lucky to be in a position where I was able to make that decision. Being away from home for the first time can be a scary prospect, especially when you have to consider your finances. I've teamed up to work with the Royal Bank of Scotland to bring you some tips for saving as a student.
While some tips are aimed more at students, they will be useful for even those who have now graduated and moved on to bigger things.

First things first, as a student you should DEFINITELY open up a student bank account early on. You may already have a current account but student accounts are made with you in mind and often come with some great benefits.
  • One of the big ones is the interest-free overdraft of £500 in your first year and £2000 thereafter. I'm one of the people who will say it, as will many others, that they wouldn't want to be in their overdraft, who would? But they are great in case of last minute emergencies or to tide you over before your wage/student loan comes in. It's important to stay on top of it but it's certainly your friend rather than an enemy. 
  • Whether you're living at home or in halls, you can also get a National Express Coachcard that can help you save a small fortune on travel. With 1/3 off standard adult coach fares, it gives you a great opportunity to save money exploring your new city, visiting friends and family, or even travelling throughout the UK. Even better, for the long breaks in between terms, you can even get discounted travel to festivals and in selected European cities, making it the ideal card to have in your back pocket.
  • When you have so much on between studying and having a social life, the best way to keep on top of your finances is through the mobile app. Having this on your smartphone means you can access and move money 24/7, but also keep track of how much you're spending and where. You can also set up text alerts to let you know when you are reaching a certain limit. Forgot your card? The Get Cash feature will allow you to get up to £130 via the app up to twice a day meaning that you'll never be left short. 
Student Saving Hacks with the Royal Bank of Scotland | Wasted Little PJ Scottish Male Lifestyle Blog

Taking out a student account won't make you a money saving guru overnight, it takes time and effort to be able to cut down on that, so what else can you do?
  1. Set budgets, but more importantly, stick to them. I struggled at first and sometimes still do with this. Setting aside money for the essentials and the luxury will make it easier to track where your money goes at the end of the month. Again, the Royal Bank of Scotland mobile bank app should make this easier for you.
  2. Shop smarter. Pick up loyalty cards, discount cards, buy an own brand or reduced food. There's absolutely nothing wrong with doing any of these and you'll start to notice the saved pounds quickly!
  3. It might not suit everyone, but if you have the time to, get a part time job while at uni. You would need to be smarter with your time (but that would be a whole other blog post!). I worked through all 4 years at uni and don't think I'd have enjoyed it nearly as much if I didn't have some form of income.
If you're just starting uni or returning for another year, remember to study hard but also enjoy yourself. Uni is a great place to meet new people and begin the next chapter in your life! And it may be easier said than done, but try not to worry about money too much.

To find out more about the Royal Bank of Scotland Student Account talk to them on Twitter or read the full benefits here.
Student Saving Hacks with the Royal Bank of Scotland | Wasted Little PJ Scottish Male Lifestyle Blog



*This post contains a sponsored link, but all words and opinions are my own.

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