For most of us, life at university means we’re not only juggling studies but also a social life, family, and work. Studying at university means we are giving up some of our capacity to earn money. Plus, sometimes things happen out of the blue and we find ourselves forking out money on unexpected expenses (or finding ourselves struggling to pay for them). That means that managing our money is even more important, especially if we still want to be able to have those catch ups with friends, put money towards our savings goals, or simply build up an emergency fund.
The main idea of budgeting is to be aware of and manage your outflows and inflows of money. Below are some links to some great websites where you can download Excel budgeting templates. These come with pre-filled categories for different income and expenses, so that all you have to do is type in the amount. These documents give you a really great visual idea of where your money is going and how much you have left at the end, so it may help you identify some areas where you could make some savings.
- http://www.sassfinancial.com.au/budgets/
- https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/budget-planne
FedUni also has Student Financial Support Officers who can help you with budgeting and other related support (plus, a Moodle page with different tips on managing your finances!). The university can also provide financial assistance for when you are in situations of financial hardship.
See here for more information on these services
Finally, don’t forget to check out the different scholarships, bursaries and grants you may be eligible for through Kickstart.
Until next time,
Amelia