Being a student is an exciting time. You want to work hard, party hard and not have to worry about money. If this is your first time away from home, learning to deal with money can be a totally new experience so here are some pointers to help you live comfortably and stress-free:
Budgeting is one of life’s great skills that all adults need to get to grips with. This is the process of working out everything you have coming in, student loan, grant, part-time earnings etc and everything you need to spend out on. Here are some wise budgeting tips:
- When you’re going out for the evening, take only the amount of cash you’re happy to spend and don’t be tempted to take a bank or credit card with you.
- Be sure to show your NUS card at every opportunity. There might be discounts available for students that aren’t obviously advertised so it never hurts to ask.
- Ask yourself if you really need the item you’re about to buy. If you’re answering ‘no’ either needing it or being able to afford it, then walk away. Wait for sales, offers or look online for cheaper alternatives if you have your heart set on something.
- At the beginning of each month, always put money aside for essential things like rent and food shopping. Finding competitively priced accommodation when you first go to university or college will help you considerably in the long run. For excellent Student accommodation Gloucester, visit http://studentaccommodationgloucester.co.uk/
- Get Savvy about your Phone Bill
You might not be on the best value contract or pay-as-you-go deal for your all-important mobile phone. If you’ve not checked out the offers on mobiles specifically for students, then you should take a look at the different websites that specialise in deals for students. If you have a computer, sign up for skype and make free calls to family and friends.
- Avoid Credit Cards
Some kinds of student finance are acceptable, such as student loans as they won’t land you with unmanageable debt after you graduate. However, some debt should be avoided at all costs and this includes falling into the credit card trap. Credit cards and unauthorised overdrafts come with high interest charges. Other bad debt includes payday loans and doorstep lenders who charge staggering amounts of interest which can cripple you financially. Finding yourself in any financial difficulty at all can be daunting and scary. Remember to contact a student finance advisor as soon as you feel your finances are worrying you.
- Are you getting everything?
The financial support available for students is complex and it can be easy to overlook something that you’re entitled to. Speak to a finance officer at your education centre or visit the funding sections of higher and further education websites.