1. Have a frank discussion about money - how much they will have to spend, how often they receive their money and what they’ll be responsible for paying. Money worries do not help with having a clear mind to study! Check out studentmoneysaver.co.uk
2. Find the best apps to help them with financial control:
- mySuperlist (cheapest supermarkets for groceries)
- Banking for students
- Student finance
3. Check out if there is extra help at hand such as:
- Tuition fee loan
- Maintenance loan
- Maintenance grant
- Special support loan
4. If renting a property outside Halls of Residence, full time students do not need to pay council tax. Have a look at gov.uk/apply-for-council-tax-discount
5. Students can avoid paying for a TV licence if they stick to watching catch-up TV, such as BBC’s iPlayer. If they do purchase a TV licence and go home for the summer a student can claim a refund for those 3 months - contact tvlicensing.co.uk/students
6. Students in private accommodation can change utility suppliers to help save money. Visit comparison sites such as uswitch.
7. Each year students will need a complete new set of course books, ask last years’ students or check ebay / Amazon for bargains.
8. Remind your children to ask for a student discount, many retailers will give up to 25% off for those with a ‘Student card’. Check out nus.org.uk
9. If you travel by train on a regular basis buy a railcard, it cuts 33% off the cost of a journey. These can be bought at rail stations or railcard.co.uk