Life as a student is difficult, but the struggles have been amplified by the events of the past year. There’s no need to get into it all, but you know how much of a devastating impact the Covid-19 pandemic has caused to people, businesses and communities all around the world. When you’re a student, things are tough, but it’s so much harder when faced with problems that no one has experienced before. We’re talking about job cuts, health scares and just the overall anxiety of what’s to come in the future.

No matter what your circumstances are, it’s very likely that you will need to budget to keep your head afloat. As a student, it’s really the time when many more financial responsibilities fall into your lap and you need to quickly adapt to get through it.

Here are 4 essentials ways that you can budget as a student:

1. Make a Budget

I could go on for days and days about how vital it is to create a budget, so bear with me. If you feel as though you are experiencing any sort of financial strain, it’s the first place you should look to solve it. Knowing how much you usually spend each day/week/month it will keep you from spending money on things you don’t need. That’s the biggest reason to make it a priority for you. By tracking your expenses regularly, you will have a better idea of what you should reasonably spend your money on, and what is excessive.

 

2. Reconsider All of Your Subscriptions

Do you need Apple Music? And Prime? And Spotify? And Netflix? And the gym? All of these small monthly costs add up and can wreak havoc on your expenditure if you don’t manage them all correctly. While you don’t need to get rid of all of your memberships and subscriptions, at least think about how much you need each of them and what you could afford if you got rid of some.

 

3. Set Goals

It’s not good enough to just try to stay afloat. Attempting to simply stay about £0 isn’t sustainable, because sudden big expenditures are bound to come along and derail your plans along the way. Instead, use your budget and a suitable calculator to come up with achievable and realistic goals for your future, whether it be month-to-month or for the long-term.

 

4. Cook in Batches

Food is a might big expense in my homes, and it seems to be something that students struggle to truly understand until they are the ones buying, preparing and eating their own food, as opposed to relying on their parents to do so. Cooking in batches is a great way to save on money, because it means that you are able to anticipate future meals and don’t fall into the trap of having to buy food more regularly than you have to. It’s both a money and a time saver, so it’s truly in your interest to at least consider it as an option with some of the meals that you can freeze and heat up for later.