You may have guessed what this post is about just by the title, but make sure to sing it just like Abba.
Some of you may have just started your first year at university or going into your second or third years and like me money is on my mind constantly. For some the student loan will seem like a lot of money and be very tempting to spend in one go and for others that student loan isn’t enough to make ends meet.
I am in my final year and fall into that last category. I’ve learnt my lesson from my two previous years of spending my student loan in one go (mainly at the student shopping night). However this year i’m doing something different. After reading a very interesting article (Here) about students and money. I took on board its top tips and have started to see a difference already in my spending and money habits.
The key top tips I took away from this article were:
- Budget for the month, add up all your costs to make sure you leave yourself enough money for the month
- Keep a money diary, this will help you to review your outgoings and track unnecessary spending
- Taking out a weekly money in cash, one of my main expenditures is on coffee (i love the stuff) and when paying on card its very easy to add in a piece of cake, but if you have cash you can see what you have left to spend for the week.
- In regards to shopping – bargain hunt for clothes, using eBay, charity shops etc, use google books if you can for some of your text books or you can buy books second hand through amazon at a decent price.
- If you see clothes or shoes that you really want. Make a note of the price and if you still want them at the end of the month you can get them (but make sure your have the money for them).
But the main thing to remember this isn’t a chore but a way to enjoy university fully by being cash smart.
Jess & SGO