Leading up to your first day University can be daunting, and everyone knows that there is no magical money tree, especially whilst studying and living at University! This being said, if managed well, you can flourish throughout your time at BU and not run into money trouble… Here at ResLifeBU HQ we run focus groups and collated information from current students that have given their top tips for you to bear in mind before coming to BU to save the pennies:
Create a finances spreadsheet and keep to it!
“Get onto excel and make a spreadsheet of your forecasted budget so you know what you expect to spend over the coming term. I’m not talking kitchen utensils and on off costs such as your bedding, your parents can sort that out for you if you’re lucky ;) Write down your weekly/monthly expenses such going out/socialising, transport, food, gym membership, sports membership, clothes, course materials and all that jazz. But be honest with yourself!
Jessica Burton | Business Studies
Take the hard cash out of the machine week-by-week!
“Spending money with your trusty contactless card can be all too easy, OOHHHH SOOO EASY! Don’t be fooled, take the cash that you want to spend each week out of the machine and don’t spend over this, by the end of the week you will feel much better about yourself. This I found extremely helpful as it allowed me to realise exactly what I was spending each day, and not get that extra coffee when I didn’t really need it”
Leonne Thuranira |
Food, food and more food!
”Food is important people, yet so many of my friends, including me, crack open the beans on toast each week as we spent too much money on things we didn’t really need. My top tips; firstly, head for the reduced shelf at the right time, just before the shops close, you can get some tasty deals! Secondly, when doing your weekly shop, make sure you are not hungry! I used to shop after the gym, bad move, my bill was always, always more expensive. Lastly, cook in bulk with your flatmates, not only is this way cheaper but its good fun and means you get into the kitchen and socialise!”
Ellie Papworth | IT Management
Get a student job and become an RA!
“As an RA my-self having a job at Uni brings you in a healthy income and takes lots of the stress away. The simple correlation between those that work part-time and have money and those that do not work at all and have none is undeniable. Get a job people! As an RA it is the highest paid student job and you can earn lots and lots, it’s a no brainer to apply!”
Sho Kubota | Accounting & Finance