Worcester Bosch steps in to help cash-strapped students live their best life

With the current inflation rate significantly exceeding the increase in student loans, students need to find new ways to make their funds go further.

Quick tips from Worcester Bosch could save freshers millions.

Nearly half a million new students have gained places at a university or college in what should be the start of an exciting new phase of their life, but the cost-of-living crisis is making freshers worry more about budgeting rather than making friends, going out, and having fun.

The government has reported an increase of 2.8% in the amount received by students for maintenance loans, but this is still far short of the current rate of inflation, which stands at 6.7%. Now more than ever students need to be careful to save cash.

Save the Student’s 2023 Student Money Survey highlighted on average students are spending £1,078 per month outside of London and £1,211 per month in Londonacross all expenses, which is a 17% increase compared to last year, meaning this year students will have to cut back even more.

Limiting the experience

Parents and new students will also be mindful that a 2022 survey of 3,500 students reported that a third of students are living on less than £50 a month after paying rent and bills, leaving them short to really enjoy a full student experience.

It’s not all doom and gloom though as in recognition of the challenges students are facing, Worcester Bosch, the UK’s leading home heating and hot water provider, is here to help with simple and quick saving tips all doable from the comfort of your home, amounting to nearly an extra £1,500 a year and over £500 million saved.

Martyn Bridges, director of technical services at Worcester Bosch, commented: “You cannot underestimate how important it is to take control of your home heating as well as simple changes to your day-to-day life.

“We want to help new students and worried parents understand that effective changes, such as turning your room thermostat down by a single degree can help create the best student experience for the coming year.”

1) Turn down the dial, to turn up at a festival

– Equivalent to festival day ticket for Reading and Leeds Festival, Tokyo World (Bristol), Parklife (Manchester), Boomtown (Hampshire), Fringe Festival (Edinburgh) and Wireless (London)

A recent report from the Energy Saving Trust in June 2023, reported that turning your heating down by 1°C can save you around £145 a year on your bills. Using that you can groove to your favourite artists at some of the best UK festivals with your new university mates.

2) Switch off and switch it up at Nandos

– Equivalent of six Nandos meals consisting of half chicken and 2 regular sides

Turning appliances off rather than leaving them on standby, save £65 per year. Ensuring lights are switched off when leaving the room, you can save £25 a year.

Saving £90 this simple tip can ensure you can chow down care-free on your next few visits to Nandos.

3) Save water, drink beer or prosecco

  Equivalent of 16 pints of beer (London average)/23 beer pints (UK average), 10 glasses of prosecco (London average)/15 glasses of prosecco (UK average)

Keeping your shower time to just 4 minutes could save a household £75 a year and swapping one bath a week for a shower of the same length could save £17 a year.

This totals to £92, which could mean a saving across many nights out dependant on your preferred tipple. 

4) Travel smart to play smart

– Equivalent of 20 games of football five a side 

People with a 16-25 railcard can save on average £159 per year.

On top of being a cheaper way to travel around your favourite places in the UK, given the success of the Lionesses and the Three Lions, you might want to use your savings to have your own moment of glory with your friends.

5) Spend carefully and travel the world

– Equivalent of trips to USA, Asia, South America and Africa

Loyalty club card programmes offer in-store discounts and allow you to accumulate towards larger purchases. With a Tesco Clubcard you could save up to £351 per year.

If you were to avoid eating out three days a week at a cost of just £5, you could save upwards of £600 a year.

Little changes can mean you can go on big holiday trips to celebrate after your exams or save up for an unforgettable gap year to the most popular and glamourous destinations.

For more general energy saving tips, you can visit here to find out more.   

Image credit Yakobchuk Viacheslav, Shutterstock