Overdrafts, banks that give away free money and discounts you’re missing out on
I have always thought I was good at saving, but honestly even for me student life is a struggle. I’m slyly addicted to online shopping and easily influenced by friends – can never seem to say no to a cheeky Nandos.
Surprisingly though, it is possible to save without having loads of money and there’s huge benefits in using discount sites, the right bank accounts and also, having saving accounts open (some give actual free money).
I remember my first proper job and a work friend told me that they’d saved 70% of what we’d earnt that year, and I just thought how?!
Now attempting to follow in their footsteps. I have some tips that might not get everyone saving that extremely but will definitely get us on the right path.
Some of my saving secrets:
I recently got a Monzo account. An online bank, it was super easy to set up, almost instant. They have a ‘refer your friend and both get £5’ which is always lovely.
But the thing that I really love about Monzo is you can use it abroad interest free and contactless. It also says how much you’ve spent in pounds each day and on what. Its super specific grouping your spends into travel, eating out, shopping etc.
It’s really grounding when you get a notification from Monzo and they say that your highest spend that month has been on food. (me 90% of the time).
These helpful reminders help you to watch your spending, making you realize what you should be cutting down.
Also they have saving pots! – you put money into them and earn 1% interest which is pretty good. So if you can’t be bothered to set up a saving account - Monzo does it for you.
HSBCs Student account advertised by UCAS give a free £100 to fresher’s, so if you’re still a first year student apply asap.
The account comes with an interest free overdraft of up to £1k with 3 years to pay it back. For people like me who decided to take out a very small maintenance loan this is ideal. If times are desperate till next payday, it’s a bit of much needed leeway.
An interest free savings account called premium bonds. Where you can win from £25 to £1million in their monthly prize draw. All you need is at least £50 in your savings account. Every £1 of your savings will count as 1 draw. I am still waiting to win the £1million but you actually do win something every now and then. It’s an incentive to save because the more you save the more likely you are to win.
The next tip is for the organised, online shoppers. If you must, must buy that top.
Klarna and clear pay are companies which allow you to buy off retail companies in installments interest free – (to a certain date, normally a month) . Paying in small amounts can really help keep your savings untouched until payday - just make sure you can pay when it’s time.
Finally, we all like to treat ourselves and there are ways to afford to treat yourself even more. So, make sure you do research, for most fun things out there is a discount hiding! 
Did you know about these discounts?
Student lifestyle posts which reflect the interests of our students are written by student interns working within the Marketing department and do not reflect the research, guidance or opinions of Middlesex University. If you have feedback or want to suggest ideas for future student lifestyle posts, please email communications@mdx.ac.uk
