From Student to Financial Independence
There comes a beautiful moment in the life of each of us when one becomes a student and enters into a path of freedom, independence and living the moment! But apart from all these apparently ideal associations, student life requires some level of maturity and entails huge responsibility, for instance financial. The moment when a young man must leave the nest and start to live on his own may be overwhelming, but with an appropriate attitude it doesn’t necessarily have to be that terrifying.
Firstly, and the most importantly, plan you budget! Note down all your incomes and expenses to make yourself aware of how much you can spend or how much more you need to earn. Take into account all possible inflows on your bank account: student loan, maintenance loan, talk to your parents and ask them to what extent they are going to keep on supporting you financially. Then, think about the expenses. Obviously, you won’t be able to foresee what you’re going to spend every single dollar on, but try to approximately organise your main outflows.
Be a little bit critical of yourself and determine which of your expenses are actually necessary for you and which of them are just your wants and caprices. If you need to limit your budget, you can resign from some of the second ones and use the money for the essential products instead.
One of important category of student expenses are course materials, with books probably making up the biggest portion of the sum. Don’t forget that you’re not the first one who is doing your course. You can contact older students and ask them if they want to sell you their books, or simply find the second-hand books at some online auctions. Alternatively, you don’t have to buy books at all. Nowadays, most universities provide online access to their library with multiple available resources including e-coursebooks.
Before starting to live on your own, it’s one more aspect that needs to be taken under consideration – organising a removal. If your parents are not able to help you with that, you can take advantage of transport company services. In order to reduce the cost of the professional transport, it’s worth checking the online marketplace, such as Clicktrans.com. You can post your request on the platform and get attractive offers from the haulers, who drive that route anyway, and hence provide you with a good quality service at a favourable price. The service operates also in Poland, Germany and Spain.
The best way to resolutely step into maturity and boost your financial situation is to start working. There are a lot of part time jobs that you can choose from, from hospitality sector to job positions closely related to your area of study which can provide you with valuable experience. Depending on your preferences and time availability, you can determine the amount of time you can spend working. Some companies offer an opportunity to work from home. Such an option could significantly save time and money that you would otherwise spend on commuting.
It’s worth checking if your university provides job opportunities for its students. These are usually contract positions, such as university ambassadors or open day assistants, which do not require much devotion of work and time.
When it comes to day-to-day expenses, remember to benefit from all your student privileges. Visit the nearby shops and restaurants and check which of them offer student discounts. Another way to save some money is to cut back on eating out. Don’t worry! It doesn’t have to mean starving. Spend few more minutes in the morning or evening before to prepare a lunch and take it with you to school.
As you can see, there are plenty of ways to save money when living on your own. With good organisation skills, you will be able to manage your budget without any problems. Remember, however, that moving out from your family house does not mean you’re left alone. You will always find people – friends or family members with bigger experience – who will support you and share valuable advice. Don’t be afraid to ask!