The move to University brings with it changes and new responsibilities. For many people it’s the first time in their life that they will have to look after themselves, and their finances. For this reason, it is recommended that you set out a monthly budget, listing you expected outgoings against your incomings. These four tips are designed to help you minimise your outgoings, leaving you more money to spend on the important things:

• Learn to cook and plan ahead with packed lunches: It’s far easier to grab a sandwich from the union food shop or canteen than it is to prepare something beforehand.

• Try to avoid store and credit cards: Store cards can look attractive, especially when they offer immediate savings on more expensive purchases.

• Pay your rent first: Your rent is one of your most important outgoings, so prioritise paying it.

• Get your reading list sorted as early as possible: If you leave sorting out your reading list until you’re back at University then you could be forced to pay out for expensive text books that can be found at a fraction of the cost online.

Unfortunately, even with these handy money saving tips, the stark reality for some is that the income and expenditure just aren’t going to add up, in which case you may need to look into the possibility of working alongside your studies.

If, on the other hand, you find that you have some money left over, or come into an unexpected windfall, you may want to start thinking about putting some of that money aside in savings or investments.

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