We’ve survived January and heading towards the end of February. And for many people it’s time to try and assess their financial situation – and for full time students it can be difficult knowing where to cut back without completely shutting down the idea of doing anything social and fun. Making smarter spending choices means you don’t really have to miss out on anything. We’ve put together some of the ways you can avoid falling into the pitfall of a near-empty bank balance.

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1. Cook at home

Opening your preferred take-away app is quick and easy, but not very cost effective. Before long you’ll be staring at your banking app in disbelief – but the pizza boxes piling up in your bin telling the true story. Taking the time to plan out your own meals will leave you with healthier and most cost-efficient meal choices. Doing your food shopping online means that you are more likely to pay attention to any deals and offers available. – All our student homes have spacious kitchens for you to cook up a storm all of your own.

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2. Attend free events

If you’re studying in a city, there will always be free events that you can take advantage of. Most museums and art centres are free to enter or request a donation as a minimum. You may even discover something relevant to your degree.

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3. Curb your need to be spontaneous

Sometimes, we find something that we just want to have as our own, sometimes ignoring how practical or expensive it would be to make the purchase. Don’t give in and spend your money on a whim – if there’s something you want, take some time to think before buying. Do I need this? How will this benefit me?

It might not work for things you really need, but it can help you avoid the guilt a few days later when you realise your money could have been better spent.

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4. Create a budget

And stick to it. There are apps like mint which can help you set bill payment reminders and plan your days/weeks so that you don’t have to worry about misplaced spreadsheets –  it’s all easily stored in your phone.

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5. Avoid the temptation of credit cards

Having your own credit card can be useful if you use it sensibly. Making small purchases or using it to pay your phone bill can help you to build up your credit score. Remember if you do own a credit card, that you should always pay off the balance each month in full.

There are many temptations offered to students by credit card lenders, offering certain incentives if you sign up. Credit card money is not money that is yours. Credit card debt can follow students around for years after they finish their studies and can affect your future.

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6. Sell your old things

If you want some extra money and you don’t have much free time to work whilst studying, you can use online marketplaces like Vinted or eBay to give your unwanted items a new home. It’s easy to list your items online and payments can be made to you instantly. It’s a nice way to earn some spending money for the weekend.