From choosing the best bank account to budgeting and accessing financial support, money’s never far from most students’ minds. But that doesn’t mean it has to be something to worry about.
By staying on top of your finances, you can concentrate on getting the most from your studies and everything else uni life has to offer.
And remember, there’s always help available. That includes advice from our Students’ Union and AskBU Students’ Service throughout your time with us, as well as a range of discounts available to our students.
Planning a budget
Budgeting is a vital part of life for pretty much every student – but if you spend some time preparing, it needn’t be a struggle.
To get started, make sure you’re on top of how much money you’ll have available well before you head off. Check this against your essential outgoings like rent, books and food, but make sure you also consider things like socialising to set yourself realistic targets.
Our overview of student living expenses in Bournemouth should come in handy for this, and you can visit our budgeting tips page for more in-depth advice.
If you master the planning well in advance, you’ll have the best chance of succeeding in the harder task of sticking to your budget. And remember, it’ll pay of dividends in the long run – helping you avoid unnecessary stress to enjoy your time at BU.
From buying food, holidays, textbooks and the odd treat, Zoe and Megan explain their top tips on finance and budgeting.
Read our finance blogs and vlogs.
Choosing a bank account
Once you’ve got your results (or if your offer is unconditional), you can set up an account with most banks. Try to get this done as soon as you can – but make sure you do your homework first.
Banks offer students plenty of incentives, from discount cards to 0% overdrafts and free railcards. It’s well worth investigating these in detail and reading online reviews and tips before signing up for an account.
This will ensure you choose the one that will benefit you most – for example, some upfront perks may seem attractive, but won’t deliver long-term value. It all depends on your specific circumstances – you can even factor this in when planning your budget.
Different banks’ criteria for starting an account vary, so make sure you have all the right paperwork ready once you’ve decided which one you want to go for.