Money Mondays – Student Budgeting

Each week, I will bring you a new guest post in the series “Money Mondays”. Today’s post is written by Daniela from Blank and she has top tips for student budgeting

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Budgeting is a hard task but students may have an especially difficult time ahead of them. If you are a student that just left the caring nest of your family and don´t know absolutely anything about budgeting than this blog post is worth looking at. Here are my 3 top tips for my fellow friends: students.

1. Know your priorities

When you are living alone or at least controlling your own money you have the necessity of knowing your priorities. Otherwise you will not know how to start budgeting.

This step can be quite haunting because who doesn’t want to go out for drinks with friends but at the same time drink a hot chocolate every day at class?

You need to know what you want most and what is most worth for you because this way you will think carefully about each decision that you made.

So, think about it. A drink with a friend or a dinner with your girlfriend? That new game or that take away pizza?

Knowing your priorities will make it easier for you to decide.

2. Cook all of your meals

Take away is big friend of mine but if you want to have some money for something else stop calling for food every night.

Also eating at school every single day will make your account numbers drop really easily.

Instead why not go to grocery story, buy some items and give that creativity a swirl.

Home cooking all of your meals can lower your outcome about 30%, this way you can go and buy that dress you always wanted.

3. Get a part time job

Getting a part-time job may sound boring and hard work but the truth is that it is the best way for getting a higher income while studying.

So, if you are really struggling financial check out local part time jobs.

University website, normally, have a special website designed to make it easier to find part-time jobs for students. Also, University can help you perfect your interview skills and your CV.

Plus: Keep track of your budget for the month

A very helpful advice is tracking all of your transactions. There is loads of ways to do so: journaling, keeping receipts or apps.

I suggest the app Yolt, it says everything you need to know for a useful budgeting throughout your student times.

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