Wondering how to get back on track with your finances after the break?
While student life is full of exciting opportunities, living on a student budget is one of the biggest challenges you will face during your studies. Rent, food and other essentials have never been so high, and student funding has not increased proportionally.
Budgeting is an important skill to have now and for the future and ENSA Advice has put together some budgeting tips you might find helpful.
- Know your income and make sure you are in receipt of all bursaries, loans, scholarships or benefits you are entitled to.
- Draft a monthly budget; calculating your income and your expenses and ensuring you do not spend more than you earn.
- Reduce your spendings looking at student discounts, best energy deals, planning your meals, cutting unnecessary expenses etc
- Deal with any existing debt
- Access financial hardship support if in crisis, and
- Review the above regularly
Check out ENSA and My Napier websites and look out for plenty budgeting and money saving tips.
Our team of advisers is available if you’d like some help with budgeting or need hardship support.