Beating the Credit Crunch for Students Part 2

Apologies for the rather short second part but if I don’t post it as it is I never will.

Car

Insurance

Shop around for your car insurance although be wary of very cheap companies as the quoted price could be for a 10 month contract or the company may be hard to get money out of if you do have an accident. Checkinsurance review sites after you get your quotes to find out what the company is really like.  Some companies will offer low insurance but you will be liable to pay more if you do have an accident so make sure you know what you are getting into.

When you get your yearly renewal quote, shop around and then go back to your original insurer with any cheaper quotes. If the terms are the same they will probably beat lower quotes to keep you as a customer, if not go elsewhere.

Fuel

Only drive if you need to, I won’t drive anywhere in Belfast I can walk to in 45mins and in Belfast that’s most places. Drive efficiently and you could gain up to 30% extra millage between refuels.

If you find you are driving friends around a lot, consider charging them for fuel or getting them to pay for some of your groceries. If you are really mean you could charge them according to weight.
Another useful article from HowStuffWorks.

Rent/Accommodation

This is assuming you are not living at home with you parents were no doubt you will be living for free.
Rent is a tough one as it varies a lot from city to city, In Edinburgh you can expect to pay at twice what you would pay in Belfast.
Also location in the city will affect cost as a house close to the city centre will cost a lot more than one in the suburbs.

My advice would be  don’t look for the best you can afford instead look for the worst you will put up with. After all if you go home at weekends and Holidays you could be spending as little as 6 months a year in a house you are paying a years rent for.

On that note, look out for shorter term renting, some landlords will do 8 month contracts for students.

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