It’s easy to fall into the trap of spending more money than you want to on a night out. We’ve put together a list of top tips to stop you from going overboard with your debit card.
Plan Ahead
This might be deciding what venues you’re going to go to, what drinks you want to get, and which transport you’ll use. If you have a good idea of how much these things will cost, then you’ll already be two steps ahead. Something you can incorporate into your planning is to turn up to the club early. Doing this may help you avoid high entry fees.
Choose Affordable Venues
Some venues are a lot more expensive than others. Whilst it’s tempting to go to these, you can have just as much fun at a cheaper location. Going to a Wetherspoons for example is an affordable student favourite. Their cookie dough or halloumi fries are amazing after a few drinks! Some venues may offer student nights too, so it’s a good idea to look out for these. Choosing to go out during the week may also be cheaper than Friday or Saturday at some places too.
Eat and Drink Before Going Out
Eating a frozen pizza at home from Tesco could cost you half as much as buying a pizza from the pub. Sometimes making small choices like this can help you save money in the long run. Make sure you leave yourself some food as a snack for when you get home. This way you don’t need to spend money on take aways after you night out.
Buying alcohol from venues can also be expensive. Meeting at a friend’s house and having a few drinks before going out can be a huge money saver. When doing this, split the cost of the pre-drinks between each other too.
Set a Budget
If you know you tend to spend a high amount on nights out, then setting a budget for the evening should work in your favour. Take everything into consideration when deciding on this like transport, your outfit, entry costs as well as food and drink.
Another thing that can help you decipher what your budget will be, is by looking at your bank statements. Find the times you’ve gone on nights out and work out approximately how much you would usually spend. Your budget can then be decided by setting a cost a little lower than this.
Limit Expensive Drinks
To limit your spending on drinks, look out for deals. For example, if you see ‘two for the price of one’ this is something to take advantage of. In this case, you could even split the cost with a friend by having one each. At Wetherspoons (this cost may vary depending on which pub you go to) you can get two cocktail pitchers for £15. This split between a group of people can work out super cheap.
Track your Spending
If you have a digital banking app, you should have the option to turn on notifications. This will tell you every time money comes out of your account. If you have this on, throughout the night you can see how much money you’re spending. It’s tempting not do this and just leave it as tomorrow’s problem. But trust us! Throwing away too much money can cause you issues, so it’s a good idea to be careful.
Many modern digital banks also give you the option to categorise what you buy. If you’re able to do this, you can track over time how much you’re spending on your nights out. If you decide to set yourself a budget, you can make this lower over time if it looks like you’re able to.
Avoid Buying Rounds
It can be tempting to want to show your appreciation to others but try and hold back. Focus on buying your own food and drink without paying for friends. This will be a huge money saver in the long run if you’re someone who does this often.
How The Student Energy Group Can Help with Expenses
We’ll put all your monthly statements into one here at The Student Energy Group. This can then be used as bill splitting between you and your housemates. This includes a uni bills package including water, gas, internet, energy and TV licence. We’re dedicated to making your life easier! If you sign up with us, we’ll plant a tree too. Get a free quote from us today – it takes less than two minutes.
