Tips on how to weather the cost of living crisis

No one is immune to the cost of living crisis. But students, fresh graduates and young professionals are particularly likely to be feeling the pinch. There are lots of resources available to help us weather the storm, thankfully. Today, we’d like to share advice published by SaveTheStudent.org¬†on the subject. Here are some of its top tips:

 

If you’re a student struggling to make ends meet, ask your university’s financial team how to access its hardship fund. And regardless of your personal situation, it’s always worth looking into grants, scholarships and bursaries. You might be surprised to find that you’re eligible for one purely because you’re vegetarian, for example!

 

If you’re in full-time education, research part-time jobs to fit around your lectures. Include home-based work in your search, e.g., getting paid to do online surveys, surf the web or watch videos! If you already have a part-time job, make sure you’re getting paid at least the minimum wage. And if you’ve had the same one for over a year, ask for a pay rise.

Set a budget and keep to it. To this end, it may be helpful to have a second app-based account into which your budget goes every week or month. This gives you greater visibility on your financial situation and makes it a little bit harder to overspend.

 

Consider following a meal plan to keep your supermarket costs under tight control. Bulk buy food products – particularly pasta, rice and tinned food – from supermarkets’ own-brand budget range. Look out for yellow-sticker items, signalling an imminent sell-by date. You can also lower your food bill by using websites that sell reduced-price or free food. Approved Food, for example, sells food that’s past its best-before date (but not its use-by date) at reduced prices.

 

Have a no spend day. That means walking or cycling rather than catching public transport, taking a packed lunch to work or uni and ditching your morning Starbucks coffee.

 

Switch to a more competitive broadband provider. Check the terms of the contract before signing up to ensure there are no hidden costs or early termination fees etc.

 

Wear more layers around the house and swap your radiator for an electric blanket or hot water bottle. Sell things you no longer need, e.g., old clothes and games. And, if you’re aged between 16 and 25, get a railcard to save a third on all your train travel.

 

We hope you find these tips useful. If you’d like some help finding great job opportunities – full or part-time – please get in touch. With over 30 years of experience in recruitment and longstanding relationships with 400+ leading companies worldwide, we will quickly find the perfect solution for you. Please email us at info@ablrecruitment.com or call us on 020 7092 3939 to brainstorm the options.