When it comes to students and money (or lack thereof...), it
can be tough to make your funds last until the end of term. To help ensure
budgeting becomes second nature, it's good to get prepared early. Sometimes as
student we find managing money trickier than expected and some of us are
struggling financially. Get set for student money management with this top 9 ,
covering what to remember to factor into your budget.
1. Course materials
Starting university comes with a fair few upfront costs,
including course materials. Most first years spend more than expected on extras such as books
and arts materials. Here are
some of the ways you can save.
Whenever possible buy second-hand textbooks book from senior
students…and sell them once you've finished with them! Find out which texts
do you actually need to buy? You can also visit the library to see which ones
you can borrow.
2. Transport
Whether it's a bus to lectures or travelling back home for
the holidays, you'll need to factor in travel costs. To help, there are student
discounts out there to help you reduce the costs of getting around, check for students’
discounts on the coach fare and pay less.
3. Food
It’s true that students live off baked beans and bread –but
it is possible to eat normally and healthily whatever your budget. Here are a
couple of pointers to get you started:
- Prevent impulse buys in the supermarket by making a shopping list – and sticking to it.
- Cook in bulk and freeze. This way nothing gets wasted, it works out a lot cheaper and you always have a back-up plan when the cupboards are bare!
- Make packed lunches for cheaper meals on the go.
If you cannot afford food, visit the SRC to find out how you
can get assisted through the Student Meal Assistance programme.
4.
Entertainment
From orientation week, to Stones, Varsity Cup or a quick catch-up
with friends - the cost of socialising can soon mount up. Try and allocate
yourself so much a week during term time for 'entertainment'. Being sociable
doesn't have to be expensive - think nights in with housemates, free events,
student meal discounts or the famous Jabulani special or even two-for-one
cinema nights. Find out offer deals on cheap days and nights out including
theme park visits, cinema and theater trips and eating out.
5. Utilities
If you’re on campus residence, utilities such as electricity
and water are included as part of your rent - but that might not be the case if
you're staying in a private house such as a commune. Along with your rent,
you'll need to put aside a certain amount each month to cover utility bills. And
there is only one way to manage this bill…use less energy. And of course, there are lots of steps you can
take to reduce your electricity use such as:
- Be sure your television, radio and stereo are off when no one is watching or listening.
- Close doors and windows when using a heater.
- Turn off electronics
- Electronics guzzle lots of power even when they’re turned off. Stop wasting electricity: Plug them into a power strip, and then turn off the strip.
- Follow these tips and cut your energy bill.
6. Internet
This is another cost you'll often have covered in on-campus
residence, but will need to factor in if you're in a commune. You can save
money by doing most of your online work on-campus because there is free Wi-Fi
after all.
8. Toiletries
You might not have realised this until you became a student…Toiletries
are hella expensive! So set enough aside for the basics, and look out for
special offers and save by buying value brands.
9. Clothes
It’s tempting once you get your allowance to head straight
to the shops but you'll regret blowing your clothes budget in the first week.
Save money by:
·
Skip expensive workout clothes. You will get the same
workout whether you wearing expensive yoga pants or an old t-shirt and sweat
pants.
·
Avoid trendy clothes:
They cost more and have a short shelf life. You could spend hundreds
trying to keep up with fashion only to find out you don’t love the item a few
months later. Stick to classic styles and basic pieces.
·
Buy out of season:
You can save a lot of money by buying a coat in September or swim wear in May.
·
Repurpose old clothes, for example, cut your old jeans and
turn them into shorts.
What other tips do you have on managing
money? Let us know?
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