How to Live Effectively On a Student Budget

By Edge Hill University Modified on September 08, 2018

7 steps to make the most of your student budget.

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It is said that money makes the world go round and as a new student with seemingly endless opportunities to keep your world spinning now is the time to start planning your budget. Use these top tips to keep your finances on track this academic year:

  1. 1. Plan a budget – not the most exciting way to start your new life as an independent adult but knowing what and when expenses need to be paid will make the battle with the bank account much simpler. Don’t forget to plan for unexpected costs that may occur, an unexpected taxi ride or a surprise bill for example.

  2. 2. Look out for student discounts – your student card is your key to a world of offers! Always carry your student card and wherever and whatever you are paying for remembering to ask “…do you offer a student discount?”

  3. 3. Scholarships – any reduction in your tuition fees will help you at university. Edge Hill University offers a number of generous scholarships. For more information visit our scholarship website on our international web pages.

  4. 4. Consider getting a part-time job – depending on your visa, many universities offer career services to students, including support in getting part-time work. The additional income will allow for some welcome luxuries during your studies.

  5. 5. Make the most of the university library – before you buy new books or expensive online subscriptions check what books and online resources are available via the university library. You’ll be surprised at what is on offer!

  6. 6. Open a student bank account – shop around for the best account, it will save you in fees and charges in the future. Student bank accounts often come with other perks such as discount cards saving you even more cash!

  7. 7. Don’t suffer in silence – if you feel like you are sinking under the financial burden then seek assistance. Although you will not have your debts repaid universities will offer advice and tools to help you get your finances back on track.

Your degree is one of the biggest investments you will make but has the potential to be the most defining and reward experience of your life. With simple steps, you can keep on top of your student finances letting you take advantage of all the opportunities university study brings.

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