Produced by Louis Sherman
BSc (Hons) Applied Geography
By Louis Sherman
1st year BU student, BSc (Hons) Applied Geography
Anyone who has either been at university or is at university currently will agree that budgeting your money is vital and it’s not just to survive but to have a good time also.
I have, luckily, always had a thrifty streak in me, and budgeting is something that comes naturally to me. I know when I can afford to buy some new clothes or some music, as well as when I can and can’t afford to go out, something you really do have to think about when going to university. The issue with money at university you think you have loads of it! When you see all that money in your account the moment your first student loan goes in you can easily go giddy with excitement, get a whole new wardrobe, maybe a new ‘Playstation’ who knows what else. My best advice is to literally stay calm and think clearly.
A lot of people cannot bear to budget, but when it comes to money at university it is key! It isn’t hard to budget, all you have to do is workout how much you have to spend each week and try to stick to it and if you can save as much as you can while doing that, it makes life a lot easier. Yes that does mean buying the value baked beans the majority of the time. Although that sounds like hell, the better you can budget the easier you will find paying for things and just having a good time, it takes a worry away, especially when it comes to rent paying time.
In all budgeting is a big thing you have to focus on. Although there are of course other ways to manage your money, whether that be through a bank account which comes with some added extras like a management system built-in, or if it is just saving every copper and piece of silver you can find, just find one way that suits you best.
Managing money, it’s not fun, but it is important.