At the start of the year, we promised you more guides to saving money at University during 2015. So, true to our word we present to you the first of a series of articles designed to help you make the most of your studies, both academically and financially. Today, the team has come up with the five key areas you should be thinking of when it comes to keeping your bank balance in the black.
Draw Up a Budget
Although this may not seem like the most rock and roll thing to be doing with your time at University, it can hold the key to not ending up penniless. You can do a quick summary of your loan, money coming in and outgoings on paper or knock up a quick spreadsheet. This will allow you to work out what you have to spend on the important things, like books, pizza and beer.
Get a Job
This may seem obvious and also not the most appealing of concepts, but unfortunately it is a necessity these days. Unless you are totally minted, have been saving for year or have very generous parents then your loan will not see you through the semester. Even the most successful of entrepreneurs had to graft when they were younger. Go and grab yourself a job at the local boozer or on the high street and not only will you have more cash, you will meet loads of new people in the process.
These days, there are all sorts of money saving techniques you can employ to ensure you’re not paying over the odds. From grocery shopping to student expenditures such as stationery, ink cartridges and books; there are options out there. For example, Aldi can slash your food bill and site such as www.cartridgediscount.co.uk often run special offers for those at University. Do your research and you could save a fortune?
Remember You’re a Student
The problem many students get themselves into, is thinking they can keep living like they did before University. Unfortunately, this just isn’t the case. You may be used to posh meals and home comforts at home but the fact of the matter is that they are expensive. You may not like it but you are going to have to go budget and no frills on things whilst you are studying. You can get back to the opulent stuff when you have got your degree and land that dream job!
Ditch The Car
Finally, more and more students seem to be using their car when they are at University. This is madness, unless you are having to travel a great distance to get to campus; which isn’t likely. Why not take the car off the road, saving you a fortune in petrol, insurance and parking and get a bike? Not only will this keep you fit and save you cash, it’s also great for the environment! You can pick up a decent second hand bike for next to nothing at stores, online or places such as FreeCycle.
There you have it, the first of a myriad of student survival guides coming your way in 2015. Follow these and you may just find yourself with a lot more cash that you though this semester. If you liked this article, be sure to like our Facebook page and follow @youngacademic on Twitter. You can also send your own articles into us at [email protected]