How to Budget Carefully During your Life as a Student…
It may not be the most exciting part of student life, but sensible budgeting is essential to enjoying your time and getting the most out of higher education. After all, concentrating on your work and your studies is essential, and worrying about money can detract from that.
Below we look at some of the key tips for effective budgeting for your time as a student with the UK College of Business and Computing. These tips, will enable you to plan your time in education, ensuring you get the most from your studies.
Supplement your Income
While full-time study is just that, there’s no reason why you shouldn’t take up some part-time work to help fund your lifestyle. There are many opportunities to fit employment around your education, with weekend and evening work at several establishments ensuring you can supplement any student funding you may have already secured. It’s worth reiterating that any student loan will require repayment, so doing all you can at the earliest opportunity will make a huge difference further down the line.
Make Lists and Plans
It can be all-too easy to turn up at a supermarket or store with the best intentions to buy only what is essential, but we’re all tempted by what looks like a special offer. By ensuring that you prepare for any shopping trip and drawing up a detailed shopping list and sticking to it, you can make sure you don’t overspend.
Price Comparison Sites
One of the advantages of shopping nowadays is the ability to take advantage of price comparison websites. Such services as MySupermarket
enable you to compare the cost of everyday purchases from several providers, thereby sourcing the best-possible value for money. Preparing your entire shopping list in advance means you can tailor your requirements according to the best deal, stretching your budget further and enabling you to make better use of your money.
In addition, services such as Quidco can help you earn cashback on any online purchases you make. Sign up today and register an account, and you may well be able to earn cashback on your weekly shop.
Another modern method to budget better is to make use of a prepaid debit card. Available from several suppliers, you will only ever be able to spend the money loaded on the card, which itself can be used anywhere that accepts a debit card. By setting up a direct debit to assign a set amount to your card each month, you can be confident that you will never go overdrawn, nor spend money you don’t have.
Learn to Cook
It may be tempting to eat out every night or treat yourself to a take away, but the costs of doing so soon adds up. Many students will tell you that fending for themselves away from home for the first time was a defining moment in their lives. By learning the fundamentals of cooking and discovering how to make money and food go further, you too can experience a transformation that will set you up for the future. Here are some typical living costs for students, click here.
Budgeting for your time as a student can truly make the difference between an enjoyable and successful experience, and one in which financial worries begin to affect your work. By utilising some of our tips, as well as maintaining sensible spending in other areas of your life, you can ensure that each penny you spend is accounted for, and you have plenty left over to treat yourself every occasionally.