Being financially prepared for university

Going away to university can be a tough experience. For most students, this is the first time they are leaving home. This new found independence is a heady feeling. You are no longer dependent on your parents and you can make your own decisions. One of the big challenges you are sure to experience has to do with money. You will have to learn how to manage all your cash and how to stretch it to cater for all your needs.

Although making your funds last until the end of the term can be tough, a few changes you make in your university life can go a long way towards helping you achieve this goal. Before going off to university, there are some things you can do to ensure you have some level of financial stability when you finally report. First of all, you need to carefully consider what the university has to offer and whether you can afford all that will be required. At the same time, you need to start thinking about any internship programs that can add value to your course. Some, such as the EUSA Academic Internship Programs, are designed to cater for different fields of study and offer placements all across Europe. This program allows you to immerse yourself in new professional and social cultures and gives you the chance to expand on experiences outside the classroom. Additionally, you need to get a student account that offers numerous perks for students.

There are a number of these available, so make sure you shop around for a suitable account that meets your needs. You should also look into applying for a student loan to give you enough funds to cover your costs as you pursue your education. Once you report at the university, you need to hone your budgeting skills in order to make the most of the money you have. For instance, instead of purchasing new course materials, you can save cash by buying second hand books. You can make some money by selling them once you are done with them. Another way you can save cash is by going into cheaper accommodation. Perhaps you can share accommodation with a roommate or a group of your friends. This way, you can all share rent and other utility costs. You will also need to factor in travel costs once you are in the university.

Applying for a student travel card is one of the best ways to manage or reduce the costs of getting around. As a cardholder, you may be entitled to discounts or subsidised fares on some routes. When it comes to shopping for food, clothes and toiletries, it is always a good idea to take advantage of coupons, special offers and value brands. Some shops and stores also give great student discounts, so learn to make the most of them. You might find managing your money while at university trickier than you thought it would be. Take heart and remember that with a good plan and budget, you will be able to live quite comfortably.

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