Once you’ve made the big move, you’ll need to think about how you manage your money. Looking after your cash is one of the biggest challenges facing any student. So, with a limited budget, how can you make sure you manage to get through each term with your finances intact? Here are some quick tips to make sure you don’t end up in a financial mess. You can also use our essential moving checklist, to make sure you have everything covered.
Deal with your student finance One of your first priorities should be to make sure that your student finance is all sorted. You may have forms to fill in and return, and you may need to formally register with your uni for the money to be released. Don’t ignore any correspondence.
Delete the Just Eat app According to the BBC, 16 to 24-year-olds spend an average of £19.61 a week on takeaways and £28.26 eating in cafés and restaurants. Your money will go further if you buy ingredients and cook for yourself – and it’s even cheaper if you pool your resources and cook a big meal for your housemates.
Work, work, work Loads of students supplement their income by working part-time. Most universities and their surrounding areas have work opportunities in shops, restaurants and bars. These often have flexible hours to fit in with you lectures and other uni commitments – but be conscious of your work and study balance.
Put money aside for your essentials While your society social might be on Wednesday night, paying your rent is more of a priority. In fact, it’s more important than anything else. You then have to pay your share of the bills, and make sure you have enough money left for essentials like travel and food. Put aside the money you need for crucial items such as rent, bills, travel and contents insurance.
Protect your valuables Having to replace your tech, your clothes, or your bike could end up being the most expensive thing that happens to you at uni. So, it’s vital that your valuables are protected. Consider the value of all your possessions and make sure you’re protected against theft, fire and accidental damage from day one. Our insurance has been designed with tenants in mind, so get a quote here.
Borrow books or buy second-hand Depending on your course, the cost of buying books can be significant. Rather than buying new editions, see if either your uni or local library has the book that you need. If you absolutely need to buy a copy, look around campus or head to eBay to find a cheaper second-hand version.
To download and print the Guide to surviving Uni Life - Part 2 here.
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