Hey all, I hope you’re doing well!
One of the things that can be difficult to manage as a student is money. For many students, it’s the first time they’ve had a lot of money responsibility, especially if you decide to live in Halls away from your family and haven’t gotten as much money to budget as Student Finance can give you. So, I thought I’d give you some tips from my own personal experience, so that it’s a little easier for you:
- 1- If you’re going to spend money, take money out rather than using your card: It sounds like a simple tip and sometimes it can be unavoidable, but budgeting is a lot easier if you know exactly what money you’re spending, as some banks sometimes take a while to show transactions, so it can slip you up quite easily.
- 2- Do regular budget checks: Sometimes things will come up and you might buy something or go on a night out and spend some money you hadn’t originally budgeted for, so it’s always good to go back over your budget at least monthly to make sure things are in check.
- 3- Always leave some money to the side: It’s easy to budget and think that it’s a rock solid budget that you don’t need a fall back for, but it’s always good to have a bit of extra money, even if it just ends up being put towards going to see a film or going to a theme park later on.
- 4- Jobs are scary but good: Dependent on your life experiences so far, you may or may not have had a professional job before. It’s ok if you hadn’t, I hadn’t, but it can be worrying when you’re looking for one. It’s good to get one to help out with your money though, it’s always nice to have something as well as Student Finance.
- 5- Make sure you have your rent: Your rent is something that you need to make sure you prioritise. It’s easy to just think ‘oh my student finance will cover it when it comes through’ but you need to make sure you’ll have the money there when you need it without stress.
So, there’s a few things I’ve learnt to bare in mind when it comes to money. I hope some of these tips help you out.