Sorry for the cheesy title but i am a cheesy person. First of all, i want to say sorry for not blogging too much recently. Uni work has pretty much taken over my life but i will be doing a lot more post over the week. To kick start it all i thought i would start with a topic most students are faced with. Living on a budget.
It is that time of year when student loans run out, getting to the end of the semester so i thought i would share some of the tips i have learnt along the way during my three years of university. Hope it helps.
- Make a list - Make a list of everything you want to buy that month and see how much it would cost you. If it something you don't need and can do without save it for the next month. That way you can still get what you want and you don't spread yourself too thin money wise.
- Shop Around - With everything being online it is really easy to shop around and compare prices of things. Especially if you are like me and like buying DVD's and CD's. It can ave you a lot in the long run. Here is a huge tip too - if you like DVD's HMV website is a lot cheaper than going in the shop. You can do the same when you are buying clothes and food too. Bar Morrissions all the major supermarkets have a shop online.
- Allow yourself leeway - When you are working out your budget at least leave like a extra tenner in the calculations. The reason being is chances are you are going to want a extra coffee or takeaway or meal something you didn't anticipate when you make the calculations that way you can keep still do the small things like that and you can still keep track of your finances
- Use a savings account - I have to admit, i wish i did this more but if you can use your savings account to store some of the money away (it can be any amount) so that when and if you do run out of money you have that as emergency money and you have a safety net for a while
- Credit Cards - I personally don't like credit cards. I don't plan to use one once i leave university but there is nothing wrong in using them if you like them. Just abide by one rule. Only use it if you know you can pay it back. If you think you might not be able to, you can end up paying double through interest and things which won't make your situation any better.
I hope that helps, it isn't perfect but it is the best that i have. If any of you reading this think you have some tips comment on this post for the others to read :)
Labels: Budget, Life, Money, students, University