FAT WALLET + THIN WAIST + GOOD HEALTH = PROSPEROUS LIFE HOW TO SURVIVE IN LONDON ON A STUDENT BUDGET.

“The chains of habit are too light to be felt until they are too heavy to be broken.” - Warren Buffet If I’ve learned anything in my lifetime, it is that life is an accumulation of habits.

I don’t know about you, but I want to be financially literate. I want to be someone who manages their finances well, who’s financially prosperous.

Starting today, I plan on diligently and intentionally budgeting, and respecting and approaching my finances wisely. If you’re clever, you’ll join me on this journey of financial self-discovery.

1 Keep an eye on your finances.

Save your receipts and document your monthly expenses. That includes the quick coffee you grabbed on your way to class! You will then be able to see where your money is really going and properly confront yourself about your spending.

2 Plan all your meals in advance.

Map out all your meals for the week before you go grocery shopping. Try and plan to invest in cheaper foods that last longer, like rice, pasta and frozen peas, or my personal favourite, buckwheat. That way you can even plan out your veggies so that they don’t have to be thrown away (common student problem). You’ll be able to get lean, fit and healthy, plus your wallet will thank you!

3 Find ways to organise your money.

Mobile apps such as Yolt, Spending Tracker and Money Dashboard are really useful for actively keeping track of your personal finances. Alternatively, you can create your own spreadsheet, or even use calculators such as UCAS budget calculator. It’s important that you make yourself aware of every penny that goes in and out of each of your accounts.

4 Stay positive.

This might seem cliché or cheesy, but I find that sometimes mantras can help me keep my spirits high. Little optimistic and inspiring phrases make me feel strong and supported. Find something that works for you and keeps you optimistic about a future of budgeting!

5 Always pay your bills first.

There’s a saying that ‘good things happen when you set your priorities straight’. Putting your most important payments first, such as rent and utility bills, means that you’ll know exactly how much you have left over to use as spending money. (Don’t beat yourself up if you can’t do this right away though. I’ve been trying this myself for years, and I still haven’t quite got the hang of it every month!)

6 Keep your eyes open for deals and discounts.

There are so many opportunities for students to get discounted products or deals. Get yourself a TOTUM card and check out all the deals that come with that. Make sure you take your student card with you everywhere just in case they offer student discount. Take advantage of every opportunity to save and get a deal. It might seem small at the time, but little actions repeated consistently over time create big results!

7 Switch to cash.

If you need help disciplining your spending on your contactless card, try taking out cash for the week. Plan how much you’ll need and only allow yourself to spend that much. (I’ve realized that when I see cash physically decrease in my wallet, it creates a reaction in me that tapping my card doesn’t. I actually realise the weight and effect of my spending when it’s in notes and pennies.)

8 Stick to necessities.

Grocery shopping should only include essential items. Cut takeaways out of your life, and ditch those coffee-shop buys! Doing this will impact significant change in your financial life. And then when you do occasionally want to treat yourself, you’ll have the money for something really special.

9 Take advantage of all the free opportunities on your doorstep.

In London, there are so many things you can do during the day for free! Museums, libraries, outings, parks. Even some events and workshops on Eventbrite are completely free to attend. We live in a city full of opportunities to network, go out, meet people, do things, have the time of your life, and all without spending a penny.

10 Don’t be afraid.

Bite the bullet and actually read your bank statements. Notice what you did well, and what you can improve on. Admit to yourself where you need to grow and become more financially mature with your handling of money. If a problem is left unacknowledged then, just like a mould, it will continue to grow and grow, until it gets so out of hand that you can’t ignore it anymore.