Becoming a university student is an exciting step to take. For many, going to university is the first time moving out and with that comes a level of financial independence, which is great – but it does come with responsibility.
Your ability to save the pennies can dictate the trajectory of your career and personal life. Learning how to handle your finances is a critical skill as a student, so here’s some advice to help you spend your money wisely.
Find a place to live early on.
We recommend that you apply early, which means you can also sort out your accommodation early. The earlier you look, the more likely you are to find a bargain. Once you’ve joined us, we can give you access to our specialised Facebook groups, which can make finding a house share with fellow students easier. You can always consider moving a little out of the city as the rent is often way more affordable.
Once you’ve applied, make sure you’re checking websites like Right Move daily. Rental properties don’t tend to stay on the market for long, so being quick on the draw will work in your favour.
Pay your rent and bills on time.
It sounds obvious, but paying your rent and bills on time is essential. Not only for your peace of mind but also to leave a good impression on your landlord. It’s always best to be on good terms with your landlord. They hold power and might write you an excellent reference when trying to find the next flat. Paying your bills on time is also super important! If you’re not paying your bills properly, you might risk damaging your credit score.
Consider getting a part-time job.
Many students choose to work part-time alongside their studies. Some get jobs in coffee shops, pubs or shops – but why not look for work that will help to enrich your area of study? Our dedicated Careers and Industry team are on hand to help assist you in finding industry work. This way, you gain valuable work experience that will look good on your CV and to future employers and who doesn’t love a bit of extra cash? You can use BIMM’s Talent Match service to aid you with your search.
Don’t wait until your bank balance is approaching zero before looking for paid work. If you’re going to get a part-time job, the best time to find one is at the start of your first term when there are the most available.
Make use of your student discounts.
As a student, you don’t want to miss out on all the great deals! Whether that’s 25% off at Samsung, discounted Domino’s or reduced Reebok – there’s something for everyone.
Not only are you eligible for student discounts on your favourite online shops but also when visiting museums, galleries, theatres, gyms, travel cards, etc. Most of the time, you will be asked to show your student ID to get a student discount.
As a BIMM Institute student, you can subscribe to online student discount providers using your BIMM student email account, which will be set up after enrolment at the beginning of your studies. One of these is UNiDAYS, and you can check out the discounts available here.
Use BIMM’s facilities and equipment.
Whilst you’re studying with us, you have the opportunity to make use of our amazing industry-standard equipment and facilities. All our locations are packed with professional equipment, with additional equipment available for hire.
Most of our locations have dedicated rehearsal spaces that are free to book with free equipment hire – you’d be silly not to make the most of them!
Use your support teams.
Every BIMM Institute college has a dedicated Student Support team who ensures your student experience is as enjoyable and productive as possible. If you’re experiencing money troubles (or any other issues), take advantage of this incredibly valuable resource for confidential advice.
Get some free stuff!
Everyone likes something for nothing, right? Websites such as Freecycle can help you save money on things like furniture, stationery, books, equipment, accessories – the list goes on! Simply log on, type in your postcode and see who’s giving away perfectly usable stuff completely free of charge! A disproportionately large number of pianos also get listed on Freecycle…
Common sense applies here, people. Don’t agree to meet a stranger without letting others know where you’re going.
