Help? I Have No Money: Options For Students At University Who Are In Financial Crisis

A common problem among university students is that their money they get to last them a semester, usually doesn’t end up lasting as long as they hope it will. This is mainly due to the expensive lifestyle that can occur in college. Thankfully, there are a number of things a student can do while attending college to help their financial crisis.

How to Increase Your Finances While at College

One of the best things you can do to help your financial situation is to acquire a job. There are many jobs available to a student, depending on their skills set and what kind of work they can do. Another great thing to do is try to cut back on your spending of things you don’t need. Learning to budget your monthly expenses is also a great help. Listed below are some tips and tricks on how to survive college financially.

Getting a Job

This is one of the most obvious and also one of the most effective options for students in need of extra cash. There are many places that students should be able to find work relatively easy such as fast food venues. It may not be the best job in the world but it gets the bills paid and allows to students to have the university lifestyle they want. Not only does working provide students with some extra cash, it also gathers practical work experience which will be valuable when students look for employment after University.

You also have the chance at moving up into the managerial positions rather quickly if you pick up on things quickly. No matter which job you choose, the end goal is to make sure you have enough money to cover your financial needs. Even if you are working at a McDonalds making sandwiches, you are still making money. As long as you keep up with your school work while you work, you should have no trouble surviving college and keeping up with your expenses.

Cutting Back

Sit down and look at what you buy each month. One of the best ways to do this is to carry a small notebook with you and each time you purchase something, even if it is a pack of gum, write down the item and how much it cost. At the end of the month, take a look at everything you have purchased. Are there things you can live without? If so, try not purchasing those items and see how much more money you start to save by giving up ‘wants’ instead of things that you truly need.

Budgeting Your Expenses

This goes hand in hand with learning how to cut back. Remember the notebook that you used to write down everything you spend? Bring that back out and take another look at it. Next, take a blank page and write down how much money you receive every month. Your next step is to subtract what you spent during that month, from what you received that month. If you are in the negative, you definitely need to learn to cut back. If you are in the positive, but not by much, there are things you can do to improve your situation, such as carpooling with friends. Once you have developed your plan, you need to stick to it. Now that you have learned how to budget and cut back, you should start seeing your financial crisis ease up a bit.

Will writes for Richmond University. Richmond are the American university in London, offering a range of under grad and post grad options such as the ba fashion marketing program. To learn more about Richmond university and their undergraduate work experience programs visit richmond.ac.uk or connect on Facebook.