August, 2010

For students, some level of debt is inevitable. Student loans are almost essential in order to have enough money to live on throughout your studies, but it does have to be paid back. This is why it's a good idea to avoid accruing any other debts (credit cards, overdrafts etc.), save money and earn a little extra to supplement your income.

Here are some quick and simple money-saving methods to try:

1.       Borrow textbooks, DVDs and music from the library or friends rather than buying them

2.       For a free or discounted haircut, find a hair salon advertising for models for their trainee stylists to work on

3.       Walk or cycle to your lectures rather than getting the bus or driving

4.       Fill up every washing load fully (or take it back to your parents to wash!!) 

5.       Take your own lunch into uni

6.       Never be afraid to ask for a student/NUS discount when buying anything

7.       Opt for Freeview over satellite to save on subscription costs

8.       Don't pay for a gym subscription; use the uni facilities or go jogging instead

9.       Make a weekly budget and stick to it. Save up to afford any luxuries (going out, presents etc.)

10.   Make your own cards for friend and family birthdays

11.   Don't go mad during Freshers' Week and pay subscription fees to join societies you probably won't attend

12.¬¨‚Ƭ¨‚Ć Quit smoking and go healthy – you’re young so you should feel young too!

13.   Get a Young Person's Railcard to save money on train travel

These lifestyle changes may seem small and possibly not worth doing, but they will save you a considerable amount of money over time. This means you can start off post-university life without a huge cloud of debt hanging over you.

If you are lucky enough to have a house with a garden, you will likely have been enjoying sitting outside with any sunshine we've had so far this summer. But how much did you spend on furniture, plants and outdoor accessories to get your garden up to scratch for the summer season?

For people who may be struggling with their debt management problems, it is usually too expensive to redecorate an ugly or barren garden, so most don't bother. However, it needn't be that way. The following tips could help you save money on giving your garden a revamp in time for the next bout of sunshine heading our way.

Flowers and plants

You can create a beautiful flowerbed with just a few seeds and some well-chosen hand gardening tools. Don't be tempted by the vast range of gadgets and gizmos that are out there; you can achieve most gardening activities with just a spade, rake, hoe, trowel and shears. Get these for free on Freecycle, or borrow from a green-fingered friend or neighbour.

Grow your own food

Supplementing your weekly grocery shop with some home-grown produce is a great way to save some money. Start small by growing your own herbs or a few tomatoes or carrots, and then see what else you can do with the amount of space you have available in the garden. You might find that a little investment in some seeds, added together with some care and attention, pays dividends in the end when you get to eat your bumper harvest of home-grown vegetables.

Cheaper garden furniture

Rather than buying all of the flat-pack furniture you can carry from DIY stores, why not pick up a second-hand picnic bench or better yet, why not build one yourself? You can also make your own barbecue using building bricks and an oven grill tray, or choose from the many budget BBQ options now available. If you're the type of person who won't use a permanent BBQ very often, then there's always the option of cheap disposable ones available from most supermarkets for when we have another heat wave.

The UK is gradually going greener, with an increasing number of people starting to make changes to their everyday lives that will cut waste and reduce their carbon footprint. If you have a green conscious, or would like to start saving the planet, did you also know that you can save money whilst making eco-friendly changes around the house?

It's an excellent incentive to go green, as you can save hundreds of pounds a year simply by making small changes to your lifestyle, which is a big help for people currently struggling with debt problems. Here's how to:

Save energy and save money…

• Insulate your home. Heat escapes easily in homes which have no loft or wall insulation, meaning you have to use your central heating system more.
• Replace light bulbs with energy saving ones. These last up to ten times longer than standard light bulbs, meaning they don't need replacing as often ‚Äö√Ñ√¨ plus they use much less energy so cost you less on energy bills.¬¨‚Ć
• Turn appliances off instead of putting them on standby. Leaving household electrical appliances on standby (such as your TV, microwave or oven) often uses nearly as much energy as when the device is switched on.

Cut waste and cut costs…

• Stop throwing out so much food! Instead, buy only what you need and freeze leftovers to be eaten later. Or, try growing your own food if you have any available garden space.
• Try real nappies. This is the latest issue for green campaigners, as disposable nappies are very bad for the environment. Using real, re-usable ones is much cheaper and much more eco-friendly.
• Save water. Fix any leaky taps and look at fitting water-saving devices in your bathroom or toilet where they may be available.

Paying for transport to and from work is an expense that is hard to avoid, but there are ways of cutting the costs if you're prepared to put some effort in. You need to get to work, and on time, but you don't have to spend a fortune. You could be saving money and alleviating debt problems at the same time.

Here are a few alternatives:

• If you live close to work, why not walk or cycle there instead of getting the bus? You can easily do a mile or two on a bicycle, and you'll get fit at the same time! All you need to do is get up a little earlier and you could be saving a few pounds every day on fuel or bus fares, which starts to add up over time.
• If you usually get the train, try looking for cheaper deals on train tickets. You can get great discounts for booking in advance or by using railcards. Strangely, it sometimes pays to book two single seats rather than a return or going via a slightly different route.
• For bus, tube or train commuters, why not get off a stop earlier and walk? Your ticket will be cheaper and you'll get some good exercise too. You may have to invest in an umbrella though with our climate!!
• Car share, if you live close to someone else from your work that has a similar working pattern to you, why not arrange to travel to work together and alternate who drives each week. This reduces the amount you spend on fuel and also limits the depreciation of your car ‚Äö√Ñ√¨ as you'll be driving less miles.

Other money saving tips for the workplace

• Make your own lunch and bring it in. People spend an average of ¬¨¬£3-5 a day on sandwiches and snack machine goodies, which adds up to ¬¨¬£15 – ¬¨¬£25 a week! Taking in leftovers or making your own sandwiches can work out much cheaper.
• Check out WFH availability. Working From Home (WFH) can make your commuting costs disappear, as you won't need to commute at all! See if your place of work offers this in any capacity, as it enables you to save on travel costs altogether.
• Buy in bulk. If you take your own tea and coffee in to work, it may work out cheaper to club together with others who work in your office and buy a larger jar of coffee or carton of milk. To make sure you're not the one who always ends up paying for everything, it may help to each contribute 50p a week into the pot to cover tea bags, milk, sugar etc.

If you are suffering with debt problems, keeping children entertained during the school holidays can add unnecessary strain to your debt management and cause you to worry.

But keeping your children happy this summer does not need to be costly, and you can actually give them a summer to remember without great expense and in some cases without paying a penny. Here are a few ideas to try to keep your children entertained during the summer break:

• Visit the local museums and art galleries. A lot of these are free to enter and many are designed to entertain children with plenty of interactive exhibitions for them to discover. You can find details of what's on in your area by going online or looking in the local newspaper and on notice boards in your area
• Take a football, Frisbee or cricket set to the beach or the park. It's a great way to get them out of the house, in the fresh air and getting some exercise.
• You could always ask a friend to lend you their dog for the day (if you don't have one already), and take it to the park or the countryside for a nice long walk.
• Design some games for them outside in your garden. All you need is a piece of chalk to draw on the concrete and you could have hours of fun with your little ones. Paddling pools and water slides also keep younger children entertained for hours when the weather permits.

If you do want to treat children to a day at a theme park, then look out for special deals and vouchers. A lot of them have discounts available online or in newspapers at this time of year, so you can often have a good day out for half the price.

If you're struggling with debt problems, then don't let it affect your child's summer holidays.

We’d love to hear how you keep your children entertained on a budget, so get your thinking caps on and come up with some great days out without spending a single penny.