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What financial advice would you give next year's freshers? watch

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    As a current uni student, grad,or fully fledged adult - what financial advice would you give a fresher for next year? A lot of consideration of uni vs work is finance based, so what's your advice?

    My advice would be to make sure you know your expenses as soon as possible (accommodation including deposit, travel, food etc.) and see how you can fit this all in. We have some budgetting spreadsheets in this section so make use of those
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    From what a friend did... don't spend the money you are supposed to use on food to buy football boots...

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    (Original post by wolfmoon88)
    From what a friend did... don't spend the money you are supposed to use on food to buy football boots...

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    Oh no! Were they expensive? Did he manage to eat? :eek:
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    Take a gap, get a hob and save money before you go. Uni os a lot more fun if you have some savings.
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    Don't have one minted parent that doesn't support you and makes your maintenance loan tiny
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    Get money from cash machine rather than using your debit card.
    Using cash to buy a £3 coffee hurts more than using your card.
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    (Original post by 999tigger)
    Take a gap, get a hob and save money before you go. Uni os a lot more fun if you have some savings.
    Very true a lot of people do take a gap year and it helps did you?
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    (Original post by CoolCavy)
    Don't have one minted parent that doesn't support you and makes your maintenance loan tiny
    Do they help you out at all? I always find it annoying when this happens and they don't help but then someone with a larger loan gets help from parents still. Not annoyed at the person getting more money obviously just the way the system assumes they will be showered in money
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    Avoid making big spends unless you absolutely have to, e.g. don't go crazy during Freshers and buy subs/kit for every sports team they have. Take a few weeks (months, even) to see what new hobbies you can actually commit to; it's good to be ambitious but don't overestimate how well you will be able to divide your time.
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    (Original post by maggie43)
    Get money from cash machine rather than using your debit card.
    Using cash to buy a £3 coffee hurts more than using your card.
    Definitely agree! I got into a bad habit of this, so much so that I even temporarily forgot my pin number for like a week had this happened to anyone?
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    Ensure that you take enough money to last you a few weeks or so. And within your weekly budget, have something (even £5 a week) for emergencies. You never know when something may crop up.

    Don't do what a hallmate did - he got his loan and blew it all on clothes and then complained that he had no money for the rest of term. Yes, I did have to buy myself a new jacket; but I did have enough money to do that and eat.
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    Get a job, work full time over the summser/xmas holidays.
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    The best advise would be to avoid university halls as they are horrendously overpriced and go straight for a normal student house.

    The second piece of advise is to do as Reue suggested. Namely get a job. Consider that if you can work say 15 hours per week then that's about £300 per month and requires only two short shifts. Outside the term, you can work full time.
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    1- Get a job
    2- Budget for the 3 terms instead of blowing the dosh on stuff you don't need first term, and go skint for next 2 terms.
    3- Work over the summer holidays instead of dossing.
    4- If you don't want to work in your final year to focus on exams, save money now.
    5- If you can work and save some cash b4 uni - do it. It'll make life easier 4 you in the long run.

    As 4 accommodation uni hall vs private - uni halls more expensive but you won't have to deal with hassle from landlords/dodgy roommates or sudden rises in rent. I'd go for uni over private anytime during uni. You don't want to deal with extra problems when you're going to be busy with uni & job.
 
 
 
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