Managing your money while you study can be tricky, but there is funding out there and lots of support to help you manage money while you learn. Here are our top tips.
1. Make a budget
Making a budget, either on paper or on your computer, is a great way to help keep your head above water. Work out what’s going out on study, travel, living costs and expenses and what’s coming in through work, loans or grants. You may need to work alongside studying to keep afloat. And remember, if at all possible, it’s always wise to stash some cash for the unexpected.
2. Make savings
Think about where you could cut back and make savings. Instead of buying books, borrow them. Get using those student discounts!
You may be able to find a course that’s completely free (they do exist!), but make sure a reputable institution runs it and that it’s accredited, otherwise it may not be recognised by employers.
Accredited course providers will be listed on The Open and Distance Learning Quality Council (ODLQC) website, so you can check before you sign up!
3. Check for extra funding
There may be more money available – make sure you’re getting funds and benefits you’re eligible to. You might be able to get a scholarship, bursary, hardship fund or benefits. Do some research or ask for help – government websites are helpful and student advice bodies are there to help and point you in the right direction.
So, think your finances through and plan – it will relieve some worry and give you more time to focus on your studies.