Every university student suffers from a budgeting problem. Living expenses add pressure on every student. UK and Australian students need precise budgeting tips regarding the art of budgeting. These money-saving tips are great University life hacks that will help every UK and Australian student to survive.
Following are some useful advice and ideas that will guide you in the fruitful financial decisions.
Budgeting
One of the most important University life hacks for students is Budgeting. Budgeting is the fundamental of managing finances and this is based on the formulation of an economic plan. One of the key aspects of Budgeting strategies for students is making a list of financial resources. It includes tuition fees, part-time wages, grants, and parental contributions. Then, pencil down your expenditure which can be in the form of house rent, electricity bills, food, fares, books, and other study materials. Several budgeting applications are available to track your expenses and ensure that you do not go beyond your set budget.
Accomodation
Among all the students’ expenditures, housing is considered one of the most critical and high-level costs. As a cheap option, you should consider university halls of residence, these are relatively cheap and the rent includes utilities. If that is not possible, try to find a place to live with other students or find a flat share with other students. Platforms such as SpareRoom and Flatmates are available for the students can assist in finding cheap accommodation in shared houses.
Commute
The next spending that should be mentioned is transportation, yet it is possible to minimize the expenses. In the UK, you may think about obtaining a youth 16-25 Railcard which will give you nice discounts for train tickets, or use the student bus passes. In Australia, research on student concession cards for subsidized use of public transport. One can also take a bicycle or walk to the university as it will also be cheap, and help with exercise.
Internship/Part-time job
Getting a side job or an internship can considerably reduce your costs. It can combine it with the study planner is one of the most efficient Budgeting strategies for students. You can look for job that are nearby your college, like cafes or libraries. This will save your commute and time as well.
Financial Aid/Scholarships
Last but not least; stay updated with all the financial aid and scholarships that are enforced in the different institutions. Scholars grants, bursaries and scholarships are normally available in many universities. These are given out based on performance, financial status, or prowess in certain activities. Concerning the expenses, try to research and apply for as many grants as possible. Even small amounts can be accumulated and thus result in substantial savings.
Applying the described money-saving tips and budgeting tips, students will be able to minimize their financial problems, manage stress, and enjoy the life of the university.
