How do you manage financially as a student??
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How do you manage financially as a student??I seriously don't understand how students manage, especially during freshers week. I'm planning to somehow raise £300 pound to blow on freshers, but after that I know you drink and go out a lot as a student, but the government grants/loans don't exactly leave everyone with much spare cash after you've paid for your accommodation. At home on a night out I generally spend a lot, pre drinks I usually spent between 10-20 pounds, then around 30 on the night itself. I know for fact I couldn't do this as a student.
I was thinking about an overdraft, but how long do you have to pay back an overdraft? Surely theres no point taking an overdraft out if you know you can't pay it back anytime soon...
So yeah, any ideas? -
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Re: How do you manage financially as a student??I'm looking for a summer job, but its hard to find anywhere recruiting!(Original post by robb93)
go get a full time job over the summer to earn a couple grand. Get the loan to pay for your accomodation and just be sensible with your spending. Easy -
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Re: How do you manage financially as a student??To me £40-50 for a night out seems reeeally much, that would amount to £200 a month - unless you get a side job solely to finance nights out or have rich parents, I would just recommend to, well ... spend less
Get cheaper pre-drinks, plus the SU's are normally quite cheap compared to other clubs, just make sure you are at the right place at the right time to get discounts.
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Re: How do you manage financially as a student??Half agreed. I'd be very, very interested to know which employer will give you so much money for 3/4 months work supposing we're only talking about full-time jobs here.(Original post by robb93)
go get a full time job over the summer to earn a couple grand. Get the loan to pay for your accomodation and just be sensible with your spending. Easy
My advice, whilst at uni, be a tour guide like I was, work at a local shop or bar, work for your uni as a part-time catering staff, or if you're inclined to teaching, take part in the Students Associates Scheme if there's one near you.Last edited by WarriorInAWig; 30-05-2012 at 23:52. Reason: More to say -
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Re: How do you manage financially as a student??In answer to the OP, it comes as a combination of
- budgeting
- buying food in cheap shops e.g. Aldi / Chinatown
- buying clothes & other non-consumables off ebay
- agency work in term time, and a summer job. -
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Re: How do you manage financially as a student??Part time job - first week when everyone is hungover go hand in a CV everywhere. If you stay over summer there's always jobs going. Blag on your CV - don't be afraid to 'big up' yourself. Working 2/3 shifts a week is manageable if you are organised and compartmentalise your time.
Cheap phone contract. Don't need the latest fancy iPhone you need something that can take calls
Cheap computer. You can get a computer with 500MB hard drive for under £200 if you search around
Pre-drink
Morrison's savers range (or equivalent) for everything. Make big batches of meals (curry, chilli, stew, etc). Pad them out with vegetables and use meat sparingly. Go shopping before closing to buy knock down stuff - don't buy chicken breasts and fine mince, use other parts of the animals that are cheaper. I know some people who forage in bins but I can't bring myself to do that. Buy lots of things like tinned tomatoes and invest in basic spices and chilli powder for taste. Do not buy takeaways.
Buy your books second hand
Walk/cycle everywhere walk into town with friends - share taxis back if you have to (never paid more than £2 for a taxi home as have shared with many)
Take a packed lunch. It's amazing how much I spend on sandwiches and a waste really.
Find a cheap gym that does everything you need though student sport is often subsidised
Inquire about poor/hardship funs and what student loans are available.
Get looking for houses early - if you decorate a cheap bolthole can feel just like home
Good luck!Last edited by Aeschylus; 31-05-2012 at 00:02. -
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Re: How do you manage financially as a student??I work on a farm in the summer and have an evening job at the hotels, if you go out and find the work the moneys there. Good tip for whilst at uni, i went into waitrose for work experience for a week (unpaid), it was kind of relevant to my course which meant i could put it on the cv, but it also gets your foot into the company, and assuming you get on well with the manager, if they ever recruit you already have an advantage over other people. Worked with me and got offered a job.(Original post by WarriorInAWig)
Half agreed. I'd be very, very interested to know which employer will give you so much money for 3/4 months work supposing we're only talking about full-time jobs here.
My advice, whilst at uni, be a tour guide like I was, work at a local shop or bar, work for your uni as a part-time catering staff, or if you're inclined to teaching, take part in the Students Associates Scheme if there's one near you.
Main advise though is to work as much as possible whilst at home, uni is expensive and may mean working long hour weeks at home, but its worth it for when you're back at uni! -
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Re: How do you manage financially as a student??You need to discover Basics/Smart Price Vodka and/or Frosty Jacks. Your standards in alcohol are clearly far too high.(Original post by krussel)
I seriously don't understand how students manage, especially during freshers week. I'm planning to somehow raise £300 pound to blow on freshers, but after that I know you drink and go out a lot as a student, but the government grants/loans don't exactly leave everyone with much spare cash after you've paid for your accommodation. At home on a night out I generally spend a lot, pre drinks I usually spent between 10-20 pounds, then around 30 on the night itself. I know for fact I couldn't do this as a student.
I was thinking about an overdraft, but how long do you have to pay back an overdraft? Surely theres no point taking an overdraft out if you know you can't pay it back anytime soon...
So yeah, any ideas? -
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Re: How do you manage financially as a student??With a budget, I don't understand why people feel the need to blow hundreds in fresher's week. I didn't and still had a fantastic time.
I spend £20 each week on food shopping, £10 a month on my phone, I might spend £20-30 on clothes in a month. It's easy to manage with a budget and just live within your means.
Nights out never cost me much either, £5 for pre drinks, £10-15 to spend over the night ontop of a £5 ticket. Also, never take your debit card out with you on a night out, my friend blew £600 in 3 nights out. And those were only his most expensive ones. -
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Re: How do you manage financially as a student??It's amazing how well Tesco Value Orange Juice can cover up the taste of what is essentially paint stripper (cheapest vodka available)(Original post by roh)
You need to discover Basics/Smart Price Vodka and/or Frosty Jacks. Your standards in alcohol are clearly far too high. -
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Re: How do you manage financially as a student??It would probably help if you didn't spend so much on nights out for a start
Just budget well, work part-time, don't spend what you don't have (sounds obvious but it's surprising how quickly some people go into their overdrafts by simply not thinking). -
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Re: How do you manage financially as a student??definitely agree with no debit cards on a night out and i'd also recommend hiding the dominoes pizza menu(Original post by KJane)
With a budget, I don't understand why people feel the need to blow hundreds in fresher's week. I didn't and still had a fantastic time.
I spend £20 each week on food shopping, £10 a month on my phone, I might spend £20-30 on clothes in a month. It's easy to manage with a budget and just live within your means.
Nights out never cost me much either, £5 for pre drinks, £10-15 to spend over the night ontop of a £5 ticket. Also, never take your debit card out with you on a night out, my friend blew £600 in 3 nights out. And those were only his most expensive ones. -
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Re: How do you manage financially as a student??Getting a job helps a lot but it's also incredibly difficult(I took 8 months despite a very good CV for a 16 year old), also if you're not on the full loan then your parents are supposed to help you out. I don't think most students pay their own accommodation.
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Re: How do you manage financially as a student??I found a part-time job for term time and a full-time job for the holiday periods.(Original post by krussel)
I seriously don't understand how students manage, especially during freshers week. I'm planning to somehow raise £300 pound to blow on freshers, but after that I know you drink and go out a lot as a student, but the government grants/loans don't exactly leave everyone with much spare cash after you've paid for your accommodation. At home on a night out I generally spend a lot, pre drinks I usually spent between 10-20 pounds, then around 30 on the night itself. I know for fact I couldn't do this as a student.
I was thinking about an overdraft, but how long do you have to pay back an overdraft? Surely theres no point taking an overdraft out if you know you can't pay it back anytime soon...
So yeah, any ideas?
More peas for me. (listening to rap)
Get cheaper pre-drinks, plus the SU's are normally quite cheap compared to other clubs, just make sure you are at the right place at the right time to get discounts.
