Fresher's Guide To Managing Your Money

By Cardiff Metropolitan University Modified on August 30, 2017

Cardiff Met student blogger Lorna shares some tips.

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One thing you'll have to learn whilst at university is how to manage your money well. It'll mean you don't have to go running to Mum or Dad and you'll learn how to become self-sufficient to a certain extent. So here I am to share with you how I've been managing my money!

To start, don't throw away all your money during your first few weeks of university. A lot of students spend a lot when school first starts and end up scrimping for the rest of the year. So plan ahead and allocate more money for when you first start - your first food shop will cost a lot as you'll need to get all your basics in, and you might also need to buy anything you forgot to get over summer.

At the beginning of the year calculate how much money you'll have each week - split your yearly student funds by how many weeks you need that money to last (whether that's just for term time or for the whole year including the holidays). Then you'll have a rough amount of how much you can spend each week without having to get a job or ask for help from family. Each week I made a list (albeit a rough one) of what I was spending so I knew if I was under or over my weekly budget.

It's not a necessity to get a job whilst you study but I'd recommend getting a casual job that will work around assignments, exams and the holidays if you want to go home. There are plenty of hotels, pubs, restaurants and shops regularly looking for staff in Cardiff. The extra money is super handy and it'll get you out and about more often whilst minimising the time you have to spend it... a win, win situation!

Also make good choices! Shop in cheaper places, don't buy food that will go to waste, take lunch with you to university instead of handing over your money to the Starbucks on campus, weigh up whether that takeaway is really worth it... you get the drift.

Read more tips from Cardiff Met students about starting a new school year.