Whether it is a degree in order to teach, or a college course in order to work as a nursery assistant, you will often need to find some extra money to help pay for your course fees and/or your living expenses while you spend time studying. Here we take a look at ways that will help you to save so that you can better afford the studies that you need to complete your training.

The first step is to create a budget. This will help you to see clearly what your current financial situation is. You can then create a second budget that takes into account all of your school fee repayments and living expenses that you will encounter when you begin your studies. This way you can better address how much extra money you are going to need.

With your budget created, take a look at our outgoings and see if there is anywhere where you could be making savings. Maybe you could switch your utilities to cheaper providers, spend a little less on grocery shopping, and start taking your own lunch to work rather than buying lunch each day.

Before you choose where to study, you should research which grants and scholarships might be open to you. Each college or university will have their own range of grants and scholarships and these can help with the cost of your tuition fees, giving you more expendable income.

Check whether there is any government help available to you. This will often be the case if you are on a lower income. You may be entitled to a fee reduction, or some sort of government student finance. Student finance may need to be repaid at a later date once you are earning above a certain earning threshold, while some government help will not need to be repaid.

Ask whether it is possible to pay your fees monthly rather than as a lump sum each year. Most colleges and universities will allow you to, and this can make your fees far more affordable, as well as making it easier for you to budget for your year ahead.

Open up a special savings account in the lead up to beginning your studies. Choosing a savings account with a good rate of interest, you should get into the habit of paying a percentage of your income into this account each month, and do not be tempted to dip into these savings. The more you can save, the easier your years of study will be.

Those saving and studying within the UK can take advantage of ISA’s too, which are available from financial institutions like Santander, and are a type of account where your savings are not taxed, allowing you to accrue even more money. Visit the Santander site for more info on savings.