Got a limited amount of cash to keep you going until the next loan drop? We've got your back...
So–you’re nearing the end of your first term. And as if the stress of deadlines wasn’t enough, you’ve also spent the majority of your student loan on booze, clothes and posh pasta (because you deserve more than just penne, sweetie...)
As well as being the biggest gifting-season of the year, Christmas is an all round drain on the ol’ bank account. The temptation of wholesome roasts with friends, mulled wine and ALL the chocolate you can possibly eat is just too hard to resist.
To help, we’ve compiled a list of tips so you can best manage the remainder of your student loan this Christmas, without missing out on the fun.
Get yourself a tastecard
Dining out while being a broke student is always a sad reality. But it doesn’t have to be.
tastecard is the UK’s largest dining destination and offers members up to 50% off meals out and 2 for 1 meals, 7 days a week! With over 6,000 partner restaurants, your dining choices are endless… Pizza Express, Frankie & Benny’s and Ask Italian to name a few.
Better yet, you can also get upto 40% off cinema tickets or up to 50% off days out with your tastecard membership.
The usual price for tastecard is a monthly fee of £6.99. But don’t worry, we’ve got your back. Because Student Hut are offering you a 3-months FREE tastecard membership.
That’ll get you through the Christmas period and beyond.
After you’ve set yourself up, all you need to do is download the tastecard app and the road to half price offers begins.
Create a budget plan
We’re taking you right back to the basics with this one. Because although this advice is pretty obvious, it actually works. The simple ideas in life truly are the best ones.
Taking into account what you have left until the second instalment of your loan, try dividing it into weeks and days. This way you can better understand what you realistically have to spend.
So, let’s say you have no plans on Tuesday or Wednesday, you can take your daily allowance for those days and top up another day where you have plans, simple enough right? That way if you don't have to miss out on any last minute dinner or cheese and wine night invites.
You can also pop any unspent daily cash towards your Christmas gifts pot.
Understand your expenses
Another obvious yet effective tip. If you take some time to understand your expenses, outgoings, ingoings, the lot. Then you’ll be in a better position to know when and where you can actually spend your money.
It’s also a useful way to avoid being too broke to pay your bills, and you’re not left making up some elaborate lie as to why all your money is gone to convince your parents to bail you out.
Get real about what you actually need
Because do you really need that fourth Christmas onesie? It’s easy to get carried away during the festive period, we know– we’ve been there! But how many times have you fallen for the Christmas product gimmicks, like over-decorating your room with a 12 packs of Christmas fairy lights you DO NOT NEED. Then convincing yourself you’ll reuse them year on year, only to throw them away a few months later.
Not only is this sort of consumption of single-use plastic bad for the environment, it’s also harsh on your bank balance!
Take a few moments to look at the £20 snow globe you’re about to buy, and really ask yourself if you need it. It helps to walk out of a shop and take a breather outside of the over hysterical shopping atmosphere.
Also, before you buy on an impulse, try thinking about all the other useful things you can do with that money. Do you have a Christmas party coming up? Have you finished all your Christmas shopping for your friends and family yet?
If you have money left over, then by all means, treat yo self! Otherwise put down the globe immediately.
We all know the pressure of buying gifts for everyone during Christmas (sending love to those with 20 cousins to buy for). But if you’re really struggling to keep up, then just best honest. No one will want you to get yourself into debt.
You’re a struggling student at the end of the day, and your family and friends will be far more understanding than you think. As long as you aren’t demanding outrageously expensive gifts of course…
We hope you find these tips useful and manage to have a semi-financially stress free Christmas.
Happy Holidays everyone!