Posted by Adam Kennedy on 16th Aug 2017
5 Things no Student should ever Waste Money on
If you're a student and heading to college next month, we've got some tips to help you manage your money, while still making the most of college life. Back-to-college season is upon us, which means lots of students across the country are currently making the most of their last few weeks being looked after at home.As many as 40% of students have gone without food because they are concerned about their finances, a stark new survey has revealed.The time spent at university is often sold as the best years of a young person's life, but almost 30% of students have considered dropping out of education because they cannot afford living costs, with 60% saying they do not feel financially secure. With rent prices continuously going up, is there any end to the spiralling overhead costs?Students are going without food and heating, as well as becoming desperate and selling possessions, taking out payday loans and seriously considering dropping out to get by. Below we discuss our practical tips and tricks to save yourself €100s in basic household overheads every year!After all - a penny saved is a penny made.
Kollect list 5 Things no Student should ever waste money on:
1. Don't waste money on your Bin Collection:
If you're renting you are definitely going to need Bin Collection. It's not something you can sweep under the rug, no pun intended! But you can be smart about it! Check with your landlord to find out what plan is currently in place, as it's possible that you could make huge savings by switching. If you only need to fill the bin every 2-3 weeks, or if you go home for Midterm or Christmas, think of the wasted money on regular bin collection charges. Switch to Pay-as-you-go Bin Collection and you only pay for the service when you need it. With Kollect there are no contracts and direct debits, which suits most students down to the ground ;) Kollect typically saves households up to 40% on annual bin collection charges, it's a no-brainer way to save money! Use the extra €'s for festival tickets!
2. Don't waste money on your Energy:
Also you'll need to sign up for electricity, gas, or both. Again check with your landlord to find out what plan is currently in place in the house, as it's possible that you could make savings by switching to a new supplier. At the moment, the difference between the standard plans and the cheapest deals on the market is €318 for the average dual fuel customer. If you're confused about how to switch, don't worry... it's actually very straightforward. You can compare energy plans to see which one represents the best deal for you, and it only takes around 5 minutes to complete a switch from there. It's definitely worth taking the time to do this, like switching bin collection services, it could save you hundreds.
3. Don't waste money on TV Subscriptions:
If you are paying a subscription for channels that you rarely watch, think about whether it is worth the money. Compare the different packages from your current provider and see if there is a cheaper package that might suit you. Maybe you only need Netflix, maybe try out the one month free trial, whichever you need, have a chat with your house-mates and see.
4. Don't waste money on Phone charges:
This is one thing that Irish young people spend a huge amount of money on. I know that a lot of people get locked into a bill pay contract because they want the new iPhone. That's fair enough; you're willing to pay the extra cost because it's a brand new phone and it's amazing. However, if you don't really care too much about your phone and have a pay as you go contract, save your money by switching to the cheapest price plan available. 48 have a student plan which is €10 a month for free calls and texts. There are probably a lot of student mobile deals out there, it's just a matter of shopping around. I think your'e getting the gist of this "shop around" by now! Or just send people messages on Facebook. In this day and age almost everyone has broadband.
5. Don't waste money on Food:
It is very easy to go to the supermarket on a Monday and buy anything you fancy, until Friday hits and you have no money left and nothing to eat because you were living on chicken fillet rolls and wedges earlier in the week. The practical thing would be to make a list every week of all the essentials you will need to get you through the week. Also, like everything else, shop around for the best deals, Aldi, Lidl, Tesco all have weekly offers. You can also check these online. Simple recipes with low-cost ingredients are great options for saving money. For example an omelette is perfect for several reasons. It is versatile, cheap and healthy and you can serve it for breakfast, lunch or dinner. It is the perfect student meal. It also has a lot of potential for variation and can be cooked with whatever you have in the fridge. Or if your'e like me, when I first went to uni and didn't know how to cook (learning to cook an omelette made me feel like I was on Masterchef), then opting for the handy ready-made meals was my only option, which are usually discounted to next to nothing after 7pm in most supermarkets in the clearance section. And lastly check out recipes online, like the recipe generator from Spunout.ie, they have 50 recipes and videos and you'll be able to choose meals and snacks based on cost, time, feeling and ingredient. No excuses there!So if you are a Student, a Parent or a Landlord and would like to find out more information about our Pay-as-you-go Bin Collection service starting from just €6, feel free to give our sales team a call on 051-364495.
Remember if you are struggling with student costs ConsumerHelp.ie and StudentFinance.ie offer useful budgeting advice for students.