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How To Manage Money At University Or College

Self Development : Money

If you are at college or university, then it will probably be your first experience of managing money and finances for yourself.

This can be hard to juggle with study and of course your social life!

Therefore try to develop good habits up front. There are some key figures that you need to know.

First off, work out how much money you will have coming in each term - either from parental contribution, student loan or a part time job if you have one.

Then sum up all your fixed costs - rent for your halls or student accommodation and any other bills. Add in a reasonable sum for food. Work this out on a weekly basis.

Then take the income from the outgoings, and you will see how much money you can spend each week to break even.

Then the science is easy - if you spend above the total then you will go into debt, and if you stay within it you will actually end up with some money left over for the following term!

By: Stephen

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