Your loan can go one of two ways...

Either you've saved it or you've spent it on treating yourself...

If it's the latter, it may be time to start planning on how it can last you a little longer. We've got some simple ways to make your student loan last - it can be the smallest changes that can make a massive difference!

1. Take note

Write down the amount of loan you will be receiving and take away however much will be going out each month. This will include rent, bills, food shopping, and anything else you have going out of your bank account like phone contracts or TV subscriptions. This will enable you to work out how much you can spend each month.

2. Write everything down

This may seem tedious, but it is well worth it. Write down in a notepad what you spend money on each day down to the last penny. You'll be able to see how much money you are spending and if there are any unnecessary things you can stop buying to save.

3. Allocate cash

After you've worked out how much you can afford to spend each month, you can see how much you have per week. You could withdraw your weekly allowance from your bank so that you only spend that money. You may even have money left over each week to spend on treats like takeaways or online orders (yes, you can still enjoy yourself when budgeting)!

4. Shopping lists

Sorry, but spending money on food is inevitable! A simple way to shop smart is to make a meal plan for the week and write a shopping list before you go/or shop online, this will ensure you only get the things you need. Also, NEVER go food shopping hungry, you'll crave all kinds of food and end up spending money on rubbish.

5. Shop smart

Choose where you go for your food shop carefully! Shopping at the likes of Aldi and Lidl will save you a lot of money compared to shopping at Co-op or Tesco. Always do a weekly or monthly food shop too - don't go to your local corner shop for food every day because it'll end up a lot more expensive.

6. Student discount

One of the great benefits of being a student has got to be the student discounts. If you haven't got a student card, then invest in a TOTUM card or UNiDAYS / Student Beans, they have hundreds of student discount codes for online shops so always check these before buying anything.

7. Save on travel

Whether it's a bus or train ticket to travel to uni/home, you can save some extra cash. Getting a railcard or a bus pass will get you up to 1/3 off ticket prices, this is yet another simple way to make your loan last longer if you're trying to make savings wherever you go.

8. Make some cash

When you've got some extra time on your hands, why not have a clear-out and sell some old clothes or items on the likes of Depopand Shpock? Is there something you could make to sell on Facebook or Etsy, whether you like painting, drawing, or making cards, anything sells these days!

So, if you need to cut down on your spending try one (or all) of these tips to see how much you could save.