# How to Save Money as a Student During the Cost of Living Crisis Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-09-13 Category: FINANCE Category URL: https://financedigest.com/category/finance Meta Title: Top Money-Saving Tips for UK Students: Choose the Best Bank Meta Description: Discover the best student bank accounts, equipment discounts, and university support, plus how to save on books and grab freebies with these money-saving tips. URL: https://financedigest.com/how-to-save-money-as-a-student-during-the-cost-of-living-crisishtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/istock-936987292-1736815227857-compressed.jpg) A recent study published by the UK’s National Union of Students found that one in every three students will be living on less than £50 a month after paying for their rent and bills. Ahead of the start of the academic year this month, here are some top tips for students wanting to save money while they are studying. **Choose the Best Student Bank Account** It is important to look for a student [bank account](https://www.financedigest.com/are-banks-ready-for-the-new-accountability-regime-in-2016.html "ARE BANKS READY FOR THE NEW ACCOUNTABILITY REGIME IN 2016?") that best suits your needs, especially one with a generous 0% that will last for the length of your course, whether it is 3 years or five. Different [banks will offer](https://www.financedigest.com/first-abu-dhabi-bank-could-renew-35-billion-offer-for-stanchart-bloomberg-news.html "First Abu Dhabi Bank could renew billion offer for StanChart -Bloomberg News") different offers in order to incentivise students to use their student accounts. For instance, Santander [offers their customers](https://www.financedigest.com/improving-customer-experience-through-broadening-your-mobile-offering.html "Improving customer experience through broadening your mobile offering") a free four-year railcard. While this is worth around £90, and can save you a lot on travel, their [accounts do not offer](https://www.financedigest.com/accountants-can-add-even-value-offering-clients-new-breakeven-cis-calculators-downloadable-app.html "Accountants Can Add Even More Value by Offering Clients New Breakeven and CIS Calculators from Their Own Downloadable App") the largest interest-free overdrafts in comparison to their competitors. (Source: [Limited Company Help](https://www.limitedcompanyhelp.com/)) Alternatively, NatWest [offers their customers in first-year a very generous 0% overdraft with a one-year Tastecard](https://www.financedigest.com/discount-dining-clubs-tastecard-and-gourmet-society-grow-their-offering-as-chimichanga-and-spaghetti-house-both-sign-up.html "Discount dining clubs tastecard and Gourmet Society grow their offering as Chimichanga and Spaghetti House both sign up") membership. Other [banks may offer cash incentives so it is worth investigating which account will best benefit your funds](https://www.financedigest.com/bank-funding-for-renewables-stagnates-vs-oil-and-gas-report.html "Bank funding for renewables stagnates vs oil and gas – report") and help you to save during your studies. [**Consider What Equipment You Will Need**](https://www.financedigest.com/institutions-need-to-consider-spreadsheet-management-to-meet-the-pras-latest-stress-testingexpectations.html "Institutions Need to Consider Spreadsheet Management to Meet the PRA’s Latest Stress Testing Expectations") The majority of students will opt for laptops instead of desktops as they can be transported easily and used in lecture halls. For students studying essay-based subjects, they will only [need a laptop in order to research](https://www.financedigest.com/new-research-reveals-many-brits-turning-parents-financial-help-buying-many-need-helping-hand.html "New research reveals how many Brits are turning to their parents for financial help, what they are buying and why so many need a helping hand") and write their essays on. As such, there is no [need to invest](https://www.financedigest.com/the-six-things-you-need-to-consider-before-starting-or-investing-in-an-ico.html "The six things you need to consider before starting or investing in an ICO") in a very high-tech laptop that might have an abundance of unnecessary features. Furthermore, a number of technology suppliers, such as Lenovo and Apple, offer customers generous student discounts on their goods, says [Rosca Technologies](https://rosca-technologies.com/). In addition, it may be worth [considering buying](https://www.financedigest.com/4-things-to-consider-before-buying-your-dream-car.html "4 Things To Consider Before Buying Your Dream Car") a second-hand or refurbished laptop too. **Seek Out Additional Support From Your University** Each university is likely to offer [additional financial support to their student](https://www.gov.uk/student-finance/extra-help) s from lower-income households. These could be in the form of bursaries or scholarships which do not [need to be paid back](https://www.financedigest.com/if-the-nation-backs-fintech-we-need-to-address-a-few-things.html "If the nation backs FinTech, we need to address a few things") to the university. Furthermore, charities may also serve as a source for funding to help with tuition fees or [living costs](https://www.financedigest.com/indefensible-uks-sunak-under-fire-over-response-to-cost-of-living-crisis.html "‘Indefensible’: UK’s Sunak under fire over response to cost of living crisis"). **Purchase Books Second Hand** Typically, students will be required to [invest in a number of books to support their research](https://www.financedigest.com/equity-markets-show-strong-end-of-year-performance-in-camradatas-q4-2017-investment-research-reports.html "Equity Markets Show Strong End of Year Performance in CAMRADATA’s Q4 2017 Investment Research Reports") during their studies as part of their course. It is first worth checking how many of thse will be mandatory, and then worth checking if these are available to borrow in the university or local libraries. Further, some chapters may be free to access and download online. Alternatively, there are a number of [online marketplaces](https://www.financedigest.com/online-marketplaces-embracing-embedded-finance-to-benefit-both-customers-and-vendors.html "Online marketplaces: embracing embedded finance to benefit both customers and vendors     ") which may stock these books second hand too, and are likely to be much cheaper than purchasing them brand new. **Utilise Student Discount Codes** When making an order or shopping in-person, it is always worth checking whether you can save [money using your student](https://www.financedigest.com/student-finances-exposed-how-do-they-really-spend-their-money.html "Student finances exposed: How do they really spend their money?") discount. **Look Out for Freebies** Many companies will offer [students freebies so it is definitely worth investigating if any will help you to save](https://www.financedigest.com/student-loans-hurting-workers-ability-to-save-for-retirement.html "STUDENT LOANS HURTING WORKERS’ ABILITY TO SAVE FOR RETIREMENT") money. For instance, Amazon Prime [offers](https://www.financedigest.com/oracle-offers-its-mysql-heatwave-database-and-analytics-on-amazons-cloud.html "Oracle offers its MySQL HeatWave database and analytics on Amazon’s cloud") six months free membership to those who sign up to an Amazon Prime Student Trial. Furthermore, students can use [Microsoft Office](https://www.financedigest.com/microsoft-unveils-ai-office-copilot-in-fast-moving-race-with-google.html "Microsoft unveils AI office copilot in fast-moving race with Google") 365 Education for free when registering an account with their university email address. **Make Savings on Transport** There are a number of [ways in which students can save](https://www.financedigest.com/top-5-ways-businesses-can-save-on-energy-costs-in-q4.html "Top 5 Ways Businesses Can Save on Energy Costs in Q4") on transport. The 16-25 railcard is a popular way of doing so, offering students a third off their [rail journeys](https://www.financedigest.com/internal-flights-hundreds-of-pounds-cheaper-than-rail-journeys.html "Internal flights hundreds of pounds cheaper than rail journeys") for £30 annually. [National Express additionally offers students a Young Persons Coachcard for £15 which takes off a third](https://www.financedigest.com/still-living-at-home-a-third-of-the-nation-cant-afford-to-rent.html "Still living at home? A third of the nation can’t afford to rent") off their journeys too. Alternative [ways in which students can save money](https://www.financedigest.com/best-ways-to-make-money-online.html "Best ways to make money online") include using their university’s bicycle loan schemes if this is offered. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---