While being a student in Cambridge can be an amazing experience, it can also be very expensive! Keeping up with everything—living costs, social activities, and tuition—can make it difficult to manage your money. 

For this reason, we've put together this guide to provide you with some useful advice on managing your finances while studying in Malaysia. Whether you're a first-year student or almost done with your degree, these pointers will assist you in creating sound financial practices and saving money. 

You may put yourself up for future success and enjoy your college and student accommodation Cambridge experience without worrying about money if you heed these advice.  

Let's get started! 

Prepare Your Budget 

You can better manage your expenditures if you have a budget. It is also the initial stage of financial organisation. Sadly, a lot of people frequently make the error of merely accounting for their daily costs when creating a budget. But there can also be additional costs to consider, like impulsive coffee plans, book purchases, or movie tickets. 

As a result, it's strongly advised to set aside money for each category, including food, phone, travel, etc. It would also be beneficial if you revised it frequently. Keep in mind that setting up a budget that enables you to save money each month is essential. 

Determine Your expenses 

It is essential to understand the precise source and destination of your money. By monitoring your expenses while living in the accommodation in Cambridge, you might be able to determine where you squander money and where you overspend. Once you've identified your excessive and wasteful expenditure, you should reduce it. 

You can maintain a pen and paper or Excel sheet expenditure log. You may also use a number of money management applications on your smartphone to create budgets and monitor your expenses. 

Cook at Home 

It's true that cuisine of Cambridge is fantastic, but eating out can get expensive. How about giving cooking a go at home? You'll not only save money but also wow your pals with your culinary prowess. Look for fresh items in your neighbourhood grocery or wet market, then start cooking! 

Minimise wasteful spending 

Is that daily costly cup of coffee truly necessary? (It's alright, we've all done it before. Or are you able to create it at home? Think about reducing these kinds of costs and switching to something less expensive. 

Hop on the Public Transport Bandwagon 

Even though a cab is convenient, the expense of using it might build up rapidly when you're trapped in traffic all the time.  

Public transit is a terrific method to save money, so think about using it. You also get to avoid the inconvenience of traffic congestion. For even greater savings, check for student discounts and monthly passes when using the bus, LRT, or (omg) KTM. 

Look for Student Discounts 

Sometimes being a student gets you better deals or lower prices. These discounts are available at a lot of locations, such as movie theatres, streaming services, insurance providers, big-box stores, etc.  

Additionally, never buy a good or service just because it's on sale. Don't forget to pursue those that are essential. As they say, "money saved is money gained," so take advantage of these opportunities. Always have your student ID whenever you go out with friends from Cambridge student accommodation so that you can use it to avail of student discounts on any purchase. 

Automate Your Savings 

For students, automatic savings are a terrific method to monitor their expenditures. Smaller monthly savings may seem insignificant, but they add up over time when you start saving early. If you struggle to leave the money in your savings account, you may find it useful to automate the process. As a result, to find out more information about this choice, give your financial institution a call.  

The money that has already been deposited into a savings account cannot be spent. As a result, setting up an automated savings plan will help you save more money and improve your budgeting and spending habits. 

Examine Your Investment Choices 

After meeting all of your needs, if you have any money left over, spend it. Alternatively, you may begin investing in something that will teach you about other investment alternatives and yield good returns. 

Including these student money management suggestions in your everyday life is a great way to start handling money at a young age.  

Cambridge is a leading study destination. With its popular colleges/universities such as the Anglia Ruskin University Cambridge, the city attracts many students globally. Many top Anglia Ruskin University Cambridge Accommodation is also available for students to choose from.