Guest blogger Produced by

Charlotte Tuohy (USA)

My name is Charlotte Tuohy from the USA, studying MSc Tourism Management and Marketing. When you arrive at Bournemouth University, it is such an exciting time, and there will be so much to do. However, it is important to remember to budget your money well, so you can enjoy your entire time here in Bournemouth!

Planning made easy

Budgeting is much easier if you begin before you arrive. I used an Excel spreadsheet to organise how much money I had to spend from my bank account and my loan, along with the dates that I would receive my money.

After that, I added all my expenses – such as rent and my cell phone bill – in another column along with the dates I had to pay them. Once you’ve subtracted the recurring and basic expenses, you can divide the money you have left into a monthly spending budget.

Budgeting on-the-go

To make it easier on a daily basis, I use a budgeting app called “Daily Budget” where I can track my expenses easily and know how much money I should be spending each day. If you spend less than your maximum amount per day it adds it to the next day. Hence, it is easy to save up for items since some days you will spend more than others!

Don’t let takeaways take your money

A good way to budget your money is to do one or two bigger grocery shops a week. You will spend less by planning out meals, and you are less likely to rely on frequent takeaway if you have a meal at home already!

Save for a real adventure

University has a lot of fun opportunities to take advantage of with your new friends. By saving money, sometimes you can splurge on things like going out to dinner, taking trips around the UK, and buying clothes. As long as you have a healthy balance, you should be able to enjoy all Bournemouth has to offer. Luckily, Bournemouth is a fairly affordable city. There is a lot to do that is free, like going to the beach or attending the many festivals throughout the year!

With some simple planning and consistently keeping track of expenses, you should be able to live your life at BU to the fullest, without breaking the bank!

By Charlotte Tuohy, USA, MSc Tourism Management and Marketing