10 Student Budgeting Tips to Help You Survive University
1. Start Saving Early
As tempting as it may be to exchange your newfound wealth for nonessential clothing, copious amounts of alcohol and various other assorted gadgetry, putting a small amount to the side at the start of the month is a hugely sensible idea.
2. Learn to Cook
One of the easiest ways to burn through cash without realising it is by eating out every day, something that many students are guilty of. We’re not talking about three-course meals in the evening, either, but about simply buying lunch at the nearest café or fast food restaurant in between classes.
3. Plan Your Budget
It’s impossible to effectively manage your finances if you have no idea what state they are in; therefore, it’s vital to create and maintain a weekly or monthly budget plan.
4. Travel Smarter
Ideally, you should try to live as close to your campus as possible; even if the rent is a little higher, it might still be cheaper overall because you won’t be paying transport costs.
5. Pay Your Own Way
Although balancing a job with full-time study can be demanding, it can be rewarding, too – and not just in the financial sense. It gives you something tenable to put on your CV, as well as helps you develop various skills and attributes that will serve you well when you graduate.
6. Ask for Help
If you’re really struggling to stay on top of things, then you can always ask for advice. Nearly every college and university on the planet provides dedicated student finance advisors who can talk you through your options, and you won’t be the first person to seek their guidance.
7. Avoid Unnecessary Expense
It may sound like common sense, but if you’re smoking 20 cigarettes a day or living in your own flat, then your financial situation is going to be a lot more difficult than it needs to be.
8. Review Your Spending
One of the best ways to stay within your budget (see Tip 3) is to review your spending at the end of each month, either through the collection of receipts or through your online banking system.
9. Search for Discount
Possibly the easiest way to save money as a student is to take advantage of the countless discounts that are available to you, from clothes, groceries and haircuts to cinemas, transport and restaurants.
10. Live at Home
No matter what stage of life you are at, your biggest monthly outgoing is always likely to be your living arrangements, so it makes sense that staying at home will save you a large chunk of money.
Download Higher Education Books, Study Notes, Test Series & More..