Tips for budgeting when moving to university this year
Going through the process of heading to university is exciting.
Heading to a new city and experiencing adventures with newly found friends; this is genuinely something that many spend their school days thinking about.
While it is undoubtedly an exciting time for many, there are plenty of things that must be sorted when heading to university.
To ensure that you do not find yourself in any financial difficulty, you will want to have some sort of budget from the get-go. Not sure where to start?
Here is a helpful list of tips to remember and consider when heading to university.
· Budgeting before making decisions
Knowing precisely what pot of money you have to work with is an essential and crucial first step
You don’t want to be making important decisions without being aware of what money you have to work with.
Otherwise this could lead to some serious financial problems, which you don’t want when heading off for your first taste of independence!
By budgeting for your upcoming decisions, you can rest assured that you will be able to overcome any potential obstacles ahead of you.
Know how much money you have each month, how much spending you have after rent, bills and food, and then you’ll understand your disposable income and what you can realistically afford.
· Choosing affordable accommodation
While we all dream of having the best accommodation available, it is vital to keep a level head and to select an accommodation that you can afford; the last thing you want is not to be able to pay your rent!
By doing your research, you are sure to find accommodation that is both affordable and high-quality.
Omnia Space is a company that provides assistance and guidance when finding the right student accommodation for your situation. To find out more about how they can help you, and to browse the selection of accommodation that they have available, head to omniaspace.co.uk.
· Purchasing essentials
Any prospective student knows, especially for self-catering accommodation, that you will require certain items to make your transition to independent living a bit easier.
Purchasing the right kitchenware and other essential items are of utmost importance and will ensure that you have the means to cook yourself more than just pasta!
By budgeting these purchases from the earliest point possible, you can guarantee that you will have the items you require, but with some money leftover too, perfect when buying your first independent food shop!
While you will want to get the best things out there, some cheaper alternatives can also fulfil the job, with some even better than their branded counterparts.
· Being wise with money
This is something that anyone should be practicing, not just university students.
If you find yourself in an incredibly tight week, refrain from buying a takeaway and try to use what is in your cupboards instead.
While it can be tedious, and there will be times that you simply cannot be bothered, it will ensure that you don’t land yourself in a position where you are scraping the pennies together at the end of the semester.
That isn’t to say that you shouldn’t have fun. By being wise and in tune with the money that you have available, you can find the balance between the two in no time.