Covid-19 has made everything come to a halt. It started in 2020, and it still continues. The lockdown was a necessary step taken by governments around the globe. 

Due to this lockdown, economies around the world experienced a massive hit. Everything was closed down from malls to supermarkets to schools to colleges. 

Public transportation was also shut down to control the situation. Many businesses were shut down and went into severe losses. 

Most students work part-time as their income source. Due to the closure of public interaction, many students lost their part-time jobs and were unable to fund their expenses. 

This was a source of extra income for them. Unfortunately, post lockdown, many students have struggled financially to make their ends meet. 

Getting the right grip on finances

We all love shopping, and it also acts as a stress buster. Supermarket shopping is exciting and requires budgeting. 

If you plan to do your supermarket shopping in a budgeted way, it may save you from making a hole in your pocket. Before going to the supermarket, make a list of all the essentials and groceries required. Then analyze your list in terms of prices. 

You can shift your choices, such as instead of buying an expensive shampoo, you can shift to the shampoo that is affordable yet good. Also, instead of buying groceries for 2 months, cut down your shopping month-wise and save money. 

According to research conducted in the UK, around 78% of the students face financial problems and cannot cater to their basic needs. They can borrow 10000 loans for bad credit with no guarantor and fund their needs.

Financial tips

  • Keep a check on your debits.

It is advised to keep a check on your monthly spending to cut down on your expenses. Every month, there may be some money left in your account after incurring all the expenses. 

Monitor your spending during the month and keep an eye on your debts. Sit down and analyze your monthly expenses. 

Maybe you are paying for the monthly magazine subscription that you never read, or you plan to pay for your broadband after the free trial but forgot to do so. It has been a long time since you visited your gym, but you are still paying for it. 

You can cut down on all these less used or unused expenses and save a significant amount every month in your account. Also, check for the direct debits from your account and stop the automated payment process. 

Try using apps to monitor your debits and finances every month. Using an application with multiple bank accounts is a good idea. 

To avoid unnecessary expenditures, you can freeze some of your payment accounts and activate them once you are financially stable. This will save you from monthly fees and reduce your expenditure. 

  • Money managing applications

As mentioned above, using money managing applications can be a lifesaver for you. There are many applications available online that help you track your spending and budget your expense on a day-to-day and monthly basis when it comes to budgeting. 

One such application is Monzo. It helps you divide your money under various heads and manage accordingly. It also makes you split your bills and savings too. 

It keeps track of all your spending and saving and keeps track of all the interest rates earned on your investment. Another good application is Snoop, and it analyzes your spending pattern and presents ways according to your pattern. 

Along with the spending pattern, it also takes notes of the stores and outlets you shop from and provides you with discount coupons and vouchers from time to time. 

Last but not least, Yolt is another money managing application that can be used for effective money management. 

This application collects all your spending information and displays it in the form of charts to make things easier for you. Also, it lets you earn rewards from various retailers that you shop from.  

  • Timely payments

The best way to avoid any debts and liabilities is to make your credit card payments on time. If you do not make your payments on time, it may attract a certain amount of fee at the end of the month. 

An interest rate is also charged based on the values of your purchases. Along with your shopping bills, the interest rate is also charged upon any kind of money you withdraw during the month. 

These days, lenders offer lucrative and attractive loans to the customer. They offer different types of loans. The borrowers work on getting approved for a car loan with bad credit, and these loans require no guarantor and are easy to pay back. 

The interest rate varies on every loan, and the time payment of these loans is an essential condition before borrowing these loans. 

Even on your loans and credit cards, you can still be saved from being charged hefty interest rates if you pay a timely minimum amount. 

Along with the increasing debt, it may also negatively affect your credit score and not let you borrow any amount in the future. The golden rule to easy borrowing is avoiding credit cards and pending payments.  

  • Overdraft as a buffer

Students are being offered a lot of benefits when it comes to borrowing. Being a student attracts a lot of financial benefits. As a student, you may be offered an interest-free overdraft. 

But before borrowing, you should check your overdraft limit as if you exceed that limit. You may be charged with hefty interest rate amounts.

Once your education is complete, you may have to pay a huge amount on your overdraft. Hence, it is advisable to pay your debts while completing your studies. 


Try to resist those items that are not your needs but wants. Once you learn to spend for your needs first, this will make you save on your monthly budget. 

While going shopping, do not stay hungry and try to eat before you leave your home as it makes you avoid eating outside and save money. 

Also, you can find affordable alternatives to your supermarket and make use of them to cater to your monthly budget.

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