Cutting your costs

With limited income it can seem difficult to make your money stretch as far as it needs to. Sticking to a planned budget, looking at ways to increase your income and trying to cut your costs can help your money go that little bit further.

Where do I start?

To get started you should prioritise the things that you have to pay for such as rent, bills and food. By working out your essential costs first you’ll be able to see how much money you have left for fun stuff, such as nights out or new clothes. If you aren’t sure where to start with prioritising your spending why not make a list with two columns headed ‘Have to Spend’ and ‘Choose to Spend’ (PDF: 40KB).

Ways to cut your costs

You don’t need to take any drastic action or try anything unsustainable.  Here are some really easy ways to get started:

  • try having at least one spend free day each week
  • don’t use credit or store cards
  • if you’ve run out of money avoid turning to payday loans. Speak to us about our discretionary short-term emergency loans
  • withdraw your weekly allowance at the start of each week to help you keep track of your spending
  • if you anticipate having health related costs make sure you complete an HC1 form to see if you can get help towards these costs
  • paying bills by direct debit and signing up for paperless billing often attract discounts - just make sure you have enough in your account to cover any scheduled direct debits

Free things to do

You can get involved in loads of free activities in Newcastle:

  • each term the Student’s Union put on a program of activities for you to make the most of your spare time. Check out the Give it a go page to get an idea of what’s available
  • the union also offers Go Play which is available to everybody and is all about meeting new friends and trying new things
  • take in a bit of culture, most museums and galleries in Newcastle are free to visit.
  • there's loads of outdoor space for you to explore around the city and it is only a short ride on the metro to the coast.
  • visit one of the parks around Newcastle or take a tour round the public art in Newcastle and Gateshead.
Check out the links below for more detailed cost cutting tips: