Young Adults MoneySaving Tips

miller

Most major operators offer a ticket which give unlimited travel on most bus services (including those of other operators) for an entire day in a wide area. Students can usually get further discounts.

Search your local bus operators wesbite for further details.

blues

Know your weaknesses and plan ahead!

If you return from the pub, craving pizza twice a week, keep a stash of cheap frozen supermarket pizzas in your freezer. You'll save tonnes if you can avoid ordering regular takeaways!

blues

Enter Competitions-you can win!

Enter any competitions you see (if its a prize you want). In London especially there are lots of comps for free tickets to film premieres plays, concerts and west end shows. Winning keeps your social life interesting and saves you money on going out!

angelil

Go vegetarian, at least for part of the week. It's instantly better for your bank balance and your health, and it's even easier to be vegetarian these days thanks to the masses of recipes available online and even recipe books dedicated entirely to vegetarian recipes.

daisiegg

One thing I think really needs to be noted is open a credit card as soon as you are offered one. I think most student accounts come with one with a very small limit - DON'T think that it is wiser not to have it because 'credit is bad'. Have it, spend something small on it each month and pay it off in full, thus building up your credit history.

My sister has always been very anti debt and anti credit so when she was offered the credit card when opening her bank account she declined it. Now, she is in her early 20s and still a student (long course - medicine) and she can't get a credit card for love nor money. She is excellent with money and has lots of savings and no debt, but also no credit history at all. This has caused her huge problems with things like trying to hire a car abroad when she was working in the USA, etc - lots of things will only accept a credit card. Also not having a credit card for emergencies like her plane got cancelled as the airport was shut due to an incident and she needed to buy another plane ticket but didn't have enough cash in her current account (it was there, but in a savings account and she couldn't get online to move it around) - she could really have done with a credit card then.

Anyway, my point being, don't automatically think credit is bad - debt is bad - I will avoid temptation by not getting that credit card at all. It will cause all sorts of problems in the future.

hungry_caterpillar

1. Get to know what time your local supermarket does final reductions on perishables = food at ridiculously low prices, about to go out of date but mostly perfectly safe for a day or three, if you avoid the obvious things like seafood, discolored meat and puffy-looking packaging.

2. Buy only items of food on special offer/reduced (with the exception of rarely-reduced essentials like milk) - not only saves money, but saves shopping time. Works with clothes too!

3. Before buying yet another new T-shirt or dress or pair of shoes, think about (a) whether you really need it and (b) how many times you're likely to wear them, and work out how much each occasion's going to cost - then - don't buy. Saves shopping time, too.

4. Before Christmas, birthdays etc, agree a 'gift protocol' with family members and friends - for example, either no gifts, only money, or low value gifts only - saves a heap of wasted money on unwanted gifts, a heap of time shopping, and a heap of time returning/selling unwanted items.

escortg3

If you dont have enough in your bank account to cover a direct debit then please cancel it. If you couldnt afford the direct debit you wont afford the bank charges for it going unpaid

bargainbetty

Get a library card - save a fortune on books and films.
Learn to cook - use library recipe books.
Find a decent butcher/fishmonger and ask their advice so you can learn to substitute cheaper cuts of meat/alternative ingredients.
Learn to love vegetarian food - not those replacement burgers, PROPER veggie food.
Learn to sew - You can repair or customise clothing
Charity shops/boot fairs - don't assume that because it's cheap it can't be any good.
Home-brewing.
The Audience Club for random entertainment.
The internet is your friend for free gigs, vouchers, coupons, useful hints and advice.

Good luck!!

double_mummy

dont get pregnant

dont move out of parents house until in a secure job (a 0 hour contract does not count ensure that your contracted hours will cover your rent and bills)

write up a formal written agreement with parents / people you live with

do not get a joint account with partner - i dont care how much you love them

dont get married - can be cheap in the short term but expensive in the long term

sort out a swap group with friends for clothes and dvds etc bring one thing take one thing that way u always have new outfits and new dvds etc

join freecycle to get rid of unwanted things as well as to get things

stop/ dont start smoking

be careful with mobile phone contracts remember being locked in to something for 2 years is a long time - and dont go and take out a new one just to get the brand new phone

learn to haggle with everything

remember that there are lots of calories in alcohol so as well as saving your bank balance you will be saving your waist line

batch cook your favorites so when you fancy something its there in the freezer - cheaper and easier than a takeaway

go to a sewing class - repairing and making your own clothes is stylish and also a great money saving skill

check you are in the correct tax code

ebay can be your friend as can local facebook selling groups and preloved

emz336

If you're a student renting or a young adult renting, make sure you thoroughly check the condition of the flat/house before you sign any forms to confirm you agree with the conditions. You don't want to be charged for any damage you haven't done. I found out the hard way!