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10 Budgeting Tips for Students

Money saving advice for students.

Students in Ireland who don't have a lot of money need to make sure that they get the most out of what little they have. Here are 10 quick tips.

1. Write it down: Using a pen and paper or an Excel spreadsheet, create a document divided into two sections, Income and Expenditure. An Excel file will give you flexibility to edit without getting messy.

Write down all sources of income and all the things that you spend money on such as rent, food and going out.

Then try to think of all the other mundane expenses like utility bills that chip away at your balance. Try not to underestimate daily food and drink expenses. The more detail this first step contains, the more likely it is you will create an effective budget.

10 budgeting tips for students.

Tackling Student Finance Issues.

2. Keep 'em separated: Lump sums, monthly bills, daily expenditure and the student lifestyle is a sure-fire recipe for disaster.

Get a 2nd bank account that you don't touch daily. Use it to keep your rent and bill money safe from late night ATM excesses. It also stops you from thinking you have more money than you really have.

3. Eagle Eye: Many students get part-time jobs to make ends meet. Your student union or careers office will have information and local business notices so be on the lookout for opportunities.

4. It's Good To Talk: Don't be afraid to talk to your bank or university student adviser. Free advice from experienced advisors can help you realise you're not alone.

5. Ask for student discounts: Many shops and businesses offer student discount so again, don't be afraid to ask! From travel cards to cinema deals, save money where you can and actively turn it into a habit.

6. Learn to cook: Eating poorly will undermine your ability to study effectively and you'll end up spending more money on snacks and canteen food.

Don't skip breakfast and challenge yourself to learn quick, simple dishes. Give it a go!

7. Think like Del Boy: Take hold of your entrepreneurial spirit and use Amazon and eBay to buy and sell books along with anything else you can benefit from.

8. Manage your debt: Companies want to make money off you in the long-term so be very careful what student overdrafts, student credit cards and student storecards you accept.

9. Watch your spending: Always open your mail immediately and keep bank statements in a safe place. Banking online daily will help you see where your money goes.

10. Avoid unnecessary expenses: Defining an 'unnecessary expense' is completely subjective. If you want to spend your student overdraft on a holiday or a guitar that's up to you - just don't take parental support for granted.

Good luck with your budgeting!

Achieving your goals.

We discuss what students can do to save their money.

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