4 must-try tips for managing money

Managing your finances can be hella challenging. It’s sooo easy to spend your money but so much harder to save it, right? We know how it feels! You should now know how to manage your first student loan drop, but what about after that?!

So to help you out, we’ve put together 4 tips for managing your money—thank us later.

1. Make a budget and stick to it

The dreaded B word! We know that budgeting isn’t much fun, but it really keeps your finances in order. They’re really easy to do and there are loads of templates online that you can use. All you need to do is work out your average monthly income vs how much you spend on bills so you can see how much you’ve got left to play with. This gives you time to prepare so you’re not left short.

2. Don't feel embarrassed to ask for help

If you’re struggling to manage your money, it’s time to get some help. It might feel embarrassing at the time, but the longer you leave money troubles, the worse they get, so it’s best to nip it in the bud and get it sorted. If you’re not sure who to speak to, organise a catch up with an advisor at your college or uni—they’ll know who to put you in contact with. Remember, you won’t be the first student in the same situation and you definitely won’t be the last!

3. Stay on top of your monthly bills

Keeping on top of everything you need to pay can be tough, and you don’t want to miss payments, right? Set yourself reminders on your phone's calendar, create standing orders in your bank account or even write yourself post-it notes. Staying on top of stuff is the easiest way to make things simple!

4. Make small savings where you can

Saving doesn’t mean that you have to cut out all the things in life that you enjoy. It can be as simple as walking rather than taking public transport or making lunch rather than buying it every day. Say you spent £3 on lunch 5 days a week - that’s £60 a month and over £700 a year. Wild, right? Making small differences to your lifestyle can have a big impact long-term—just think what you could do with that £700!

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