Starting out as a student at Uni is incredibly exciting – new friends, new freedom, new city – but it can be a bit daunting, too. All those years of living at home with all the home comforts, help and support of your family are things you’ll really miss. You’ve got to stand on your own two feet and that means dealing with one of life’s more mundane realities…. paying the bills.
Now the ‘Bank of Mum & Dad’ had no doubt sorted all that in the past, but if you’re not living in Halls of Residence and are renting privately, you’re likely to have to sort out dealing with utility providers. Gas, Electric, Water, Broadband, Phone and even TV Licence – they don’t sort themselves. So, here’s an essential reality check.
Boring budgeting pays off
In an ideal world, you’d have unlimited heat, hot water, the fastest broadband on the planet and someone else would pick up the bill. Unfortunately, to survive life as a student, you have to make compromises and be extremely careful with your money. That means budgeting. Not simply plucking figures from the air and making vague promises of keeping within a loose monthly budget. You’ll need to be incredibly disciplined to avoid getting into financial trouble that can affect your future credit rating.
Work out what you can collectively afford each month and stick to it like superglue. It’s not easy, and in an ideal world, you’d have to do as little as possible but being savvy by saving on certain things, will allow you to spend elsewhere, guilt free.