Surviving Financially As A Student
We’ve all seen the films and heard the stories of students that live without electricity or gas and live on cereal for breakfast, lunch, dinner and supper. This can be very true if you don’t find ways to save money and supplement your income.
There is no reason that because you’re at university and studying you should live in hardship. While living without much money is a student’s way of life, making small changes can make a huge difference to your finances as a whole.
Don’t Spend What You Cannot Afford
While this sounds so obvious, spending what you can’t afford is one of the many ways you can waste money that you may need for food or rent. Being a student doesn’t mean you can go partying every night, although you do want to let loose and have some fun. One of the many ways you can do this is to rather go to private campus parties rather than visiting the local pub.
Cook From Scratch
While the deals at the local take away may sound too good to be true, when you add up what you can spend on takeaways each week compared to what it would cost if you were to buy all your groceries in bulk and cook from scratch, you’ll see that takeaways can actually be eating into your monthly budget.
It’s a fact that buying your food in bulk can save a fortune, make a detailed shopping list for the week, head to the supermarket and cook all your meals from scratch for one week and see how much money you can save.
Get a Job
Part of the student culture is to get a part time job to supplement your income. If you’re in desperate need of some extra cash there are two options, the first is to get a job that can help you improve your monthly financial status and the other is to consider a short loan plan such as the payday loans available online.
Be Money Wise
I remember my university days as though they were only yesterday and I doubt much has changed since then. Between trying to make classes and studying it was a life filled with thrills and excitement. There were parties every single night and I spent money like it was water, there was absolutely no control.
After my first year of living without gas or electric, sometimes for weeks on end I decided it was time to make a change. I came from a home where I lived comfortably, my room was neat and organised and there was always food on the table, moving to campus was a step back because I didn’t know how to manage my finances effectively, something my parents probably should have taught me while I lived at home.
From buying a travel pass to travel for an unlimited amount on the public bus was one of the money saving ideas I had. Another was to cook all my meals from scratch while I worked a part time job. The money I made from my part time job was my party money, if I didn’t work, I didn’t party and it worked really well.
Yes there were months when I would have to apply for payday loans online, but this was a last resort in only those months when I couldn’t afford food or electricity and only in those months when I knew I was working so I could pay back the loan quickly.
Being a student can be a complete life adjustment for so many of us and any financial rules we had when we were earning pocket money at home go out of the window, suddenly we need to pay our way and we need to be savvy on how we spend our money and work to a realistic budget.
