Being a student is hard – during a technical recession and cost of living crisis, it can prove a real juggling act – and we don’t mean balls but flaming razorblades at times! If you’re living on campus or out of home for the first time and don’t have much income coming in due to studying, surviving as a student is as crucial as ever. But here are some tips not only to survive but thrive as a student as the cost of living pressure squeezes us more and more.
Creating and sticking to a budget
Create a budget specifically tailored for the needs of university students. Evaluate your monthly earnings and how you allocate them. Tracking your spending can help you cut down on unnecessary expenses. Therefore, you can monitor your expenses and allocate funds towards saving or paying off debts. What items can you part with that are no longer necessary? Are there any subscriptions you currently have but aren’t making use of? Seize the opportunity and enjoy the benefits.
Second-hand is your friend
In the modern age, markets for second-hand goods are everywhere. Buying second-hand textbooks is a breeze; as is tools and equipment, electronics, furniture, and laptops. Even engineering students who need higher-end laptops or PCs with GPUs (for AI applications) can buy two- or three-year-old kit and still keep up with modern systems. The upside is that they could save you more than a third – even under half – of what you pay new.
Track “student days”
Student discount days are everywhere, especially where campuses are located. Thursday is usually “uni night” at pubs and bars – though there are also perks for students who have current ID cards. This may be discounted movie tickets, food and drink, groceries, and other amenities. Your Student Union or association may also have perks and discounts for shopping at their co-ops and shops. Try to take advantage of as many student perks as possible.
Networking as an investment
Before you graduate, you should take time to network with prospective employers at specialised events or uni functions. This is an investment – and you could land a plum graduate position or internship that’s not only paid but could theoretically finance an entire semester’s study. Who knows, you could land your dream job after you finish, which puts you on a direct path to success!
Getting a loanThe last thing we want to do is get into more debt. However, if it’s debt in service of a goal such as completing your education, it’s bound to get a return for your investment. Unsecured loans for students – i.e., loans that don’t need collateral – is one way to finance your university experience upfront (books, tech, furniture, transportation, etc.) and pay it off over time. If your circumstances allow for it and you really need it, it may be a way to get on top of things before they force you back into work and out of uni, which is never ideal! Just get practical financial advice before you apply.
Also Read: Why Material Science Students Should Learn About Heat Resistant Materials
