Michelle Fisher – Adviser
Money, money, money!
Budgeting is simply making a plan for your money. Although I meet students who are keen, motivated and willing to do better with their money, there are very few who say, “Oh great, let’s track our spending each month against our student income”. I know. I understand your reluctance, but if you want to make your money last the academic year it’s worth having a go to know how much you spend. So, I’m sorry, there are no shortcuts here; you’ve just got to suck it up and budget anyway. You may come to enjoy it, simply because it gives you a feeling of control over your life and removes any anxiety around money. But for some of you, it will always be a chore. So be it! Do it anyway.
So here are my top tips:
- Keep a list of your spending. There are various apps which can do this, some linked to your payment card.
- Plan your spending to avoid impulse buys, whether it’s online or an extra item in your shopping basket. If you do come unstuck, can you identify your vulnerable moments – when you’re tired? Hungry? Bored?
- Check for student discounts and special offers.
- Check your bank balance regularly. Now we use cash so rarely, it’s vital to keep track on what you have in your account.
The Advice Centre can help you explore this further. Contact Reception on 023 8059 2085 or advice@susu.org to arrange an appointment. There is also lots of good information on https://www.moneysavingexpert.com/students/