Surviving on a student budget isn\u2019t easy, but don\u2019t worry, it can be done. Whether you\u2019re studying remotely this year, or returning to campus, we have some great tips to help you manage your finances.<\/p>\n\n\n\n
Create a budget (and stick to it)<\/strong><\/p>\n\n\n\n No matter what your income, having a budget is the first step towards financial wellbeing. It\u2019s even more important when you have limited resources, so you can avoid overspending.<\/p>\n\n\n\n Not sure how to create a budget? Start by recording your income and spending in a budget planner or spreadsheet. Try to use the most recent figures you can find, taken from your latest utility bills, bank statements and tax returns.<\/p>\n\n\n\n What does your budget tell you? Does your income cover your essential expenses? Are there areas where you need to cut back? Revise the figures until you\u2019re comfortable you\u2019ll be able to make ends meet.<\/p>\n\n\n\n Avoid overspending<\/strong><\/p>\n\n\n\n Now that you know what you can afford to spend, it\u2019s important to stay within your budget.<\/p>\n\n\n\n If you do find yourself spending more each week than you have coming in, don\u2019t be tempted to use credit as a bridge. Trying to cover your spending gap with a credit card can lead to a lifetime of consumer debt that\u2019s hard to shift.<\/p>\n\n\n\n Get thrifty with your shopping<\/strong><\/p>\n\n\n\n With so many ways to save on shopping, you need never pay full price again. A (cheap) place to call home<\/strong><\/p>\n\n\n\n A good home life can really make or break your student experience. It\u2019s also one of your biggest expenses, so weigh-up what\u2019s most important to you and what you\u2019re willing to sacrifice. For example, you might find that living closer to campus is more expensive but cuts down on your transport costs. Or, you may be able to find cheaper accommodation further out, with a longer commute. House sharing websites and student accommodation providers are a good place to start looking for affordable options.<\/p>\n\n\n\n Plan and prep your own meals<\/strong><\/p>\n\n\n\n If last year\u2019s lockdown\/s taught us anything, it\u2019s that eating at home is a big money saver! While it might be tempting to grab a takeout for lunch or dinner, the cost of eating out quickly adds up. Get Googling for some delicious low-cost recipes and plan out your meals for the week. Then invite a few friends around and swap that pub meal for some tasty home cooking.<\/p>\n\n\n\n Negotiate a better rate<\/strong><\/p>\n\n\n\n Did you know you can often get a better deal, simply by asking? It\u2019s possible to negotiate a better rate on just about anything these days, from your phone or internet bill to electricity and subscription services. Some providers will even offer special rates or discounts for students. So, pick up the phone and get dialling.<\/p>\n\n\n\n Financial assistance<\/strong><\/p>\n\n\n\n Finally, it goes without saying that you need to make the most of any financial assistance you\u2019re eligible for. That could be government support, student loans or scholarships (they\u2019re not just for the high achievers after all).<\/p>\n\n\n\n Living on a student budget means being realistic about what you can afford. Just remember that it\u2019s not forever and one day soon all your hard work will be worth it. Developing good spending habits now will go a long way to setting you up for a future of financial freedom.<\/p>\n\n\n\n Source: Money and Life<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Surviving on a student budget isn\u2019t easy, but it can be done. Whether you\u2019re studying remotely this year, or returning to campus, we\u2019ve gathered some tips to help you manage your finances.<\/p>\n","protected":false},"author":2,"featured_media":4189,"comment_status":"closed","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"_wp_convertkit_post_meta":{"form":"-1","landing_page":"0","tag":"0","restrict_content":"0"},"footnotes":"","_links_to":"","_links_to_target":""},"categories":[45],"tags":[87,151,153,154,156,155,152],"class_list":["post-4185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-articles","tag-budget","tag-budgeting","tag-distance-education","tag-finances","tag-financial-assistance","tag-overspenting","tag-university"],"acf":[],"_links":{"self":[{"href":"https:\/\/connecta.com.au\/staging\/wp-json\/wp\/v2\/posts\/4185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/connecta.com.au\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/connecta.com.au\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/connecta.com.au\/staging\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/connecta.com.au\/staging\/wp-json\/wp\/v2\/comments?post=4185"}],"version-history":[{"count":0,"href":"https:\/\/connecta.com.au\/staging\/wp-json\/wp\/v2\/posts\/4185\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/connecta.com.au\/staging\/wp-json\/wp\/v2\/media\/4189"}],"wp:attachment":[{"href":"https:\/\/connecta.com.au\/staging\/wp-json\/wp\/v2\/media?parent=4185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/connecta.com.au\/staging\/wp-json\/wp\/v2\/categories?post=4185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/connecta.com.au\/staging\/wp-json\/wp\/v2\/tags?post=4185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Here\u2019s just a few ideas:<\/p>\n\n\n\n