Media Partners | Contributors | Advertise | Contact | Log in | Saturday 13 August 2022
182,620 SUBSCRIBERS

How to manage your finances at university

RATE THIS ARTICLE

Share This Article:

Money is one of the worries that all students experience at some point or another. With this week being National Student Money Week, Blackbullion - an online financial training provider for students - has kindly given its top tips on how to manage finances effectively at university.

Blackbullion is a new service which assists students in money management. Through its on-site training, students have access to an array of easy to understand financial tips and support to stretch those pennies as best as possible.

Vivi Freidgut, Founder and Director of Blackbullion said: “Learning to manage your money and make every pound stretch as far as it can is a key life skill and I’m delighted that an increasing number of universities are investing in financial education for their students. Whether you’re on a tight budget or simply learning to live away from home for the first time, thinking about how you manage your money now can make a big difference in the future.”

Money management is a challenge that many only first meet when they move to university. Even the most careful of students might sometimes be caught out if they don’t do their maths. Blackbullion steps in here to ease this progression and set up students for this oh-so-necessary life skill. Here are a few tips from them to start you off;

1) Bills Bills Bills…

  • Students face an average monthly expenditure totalling £672, so avoid any nasty surprises by asking for estimated costs for bills. Set aside money to cover these outgoings and then set spending limits to not get caught short at the end of the month
  • Once you’ve worked out what bills are likely to cost, automate putting money aside and the payments themselves so you know that you are covered.  If you then withdraw cash on a weekly basis you then know exactly where you are and stand far less chance of overspending
  • Take advantage of price comparison sites for purchases both big and small from insurance and phone contracts to books for your course
2) Out And About

  • Book transport in advance for cheaper fares and plan how you can car share with friends, split a mini cab fee or plan your public transport route
  • Avoid becoming an impulse buyer, purchasing ad hoc items that either catch your eye in a store or online as the costs add up
  • Pay in cash for less expensive purchases so that you can see how quickly you are spending money
3) Feeling Peckish?

  • Two in five shoppers get distracted with clever advertising and deals in shops and buy things they don’t need. Don’t be one of them - look at the weight and price of food to compare prices properly
  • Take it in turns to cook larger meals to share with friends, or freeze leftover portions to stretch your food money as far as you can
  • Identify which small purchases take their toll on your wallet that you could easily avoid by taking a flask into lectures instead of buying hot drinks
For further information, visit www.blackbulliononline.co.uk




CONTRIBUTOR OF THE MONTH
Ranking:
Articles: 29
Reads: 181227
© 2022 TheNationalStudent.com is a website of Studee Limited | 15 The Woolmarket, Cirencester, Gloucestershire, GL7 2PR, UK | registered in England No 6842641 VAT # 971692974