Budgeting Tips

Budgeting your money may seem like a boring and difficult task, but it is really important. Budgeting does not have to be a really complicated task, all it takes is two simple steps:

  1. Work out your income – This is everything you receive in an average week/ month so wages, payments from student loans or grants, money from parents or family,
  2. Work out your spending – Add up all the money you HAVE to spend in an average week/month. These may include rent, electricity, food, insurance, loan repayments, etc.

If your spending is higher than your income, you are going to have to cut back, or you will find yourself in debt that keeps building.

There are many ways to cut back on your spending:

  • Always ask for student discount, even if it isn’t advertised
  • Buy in bulk, it’s much cheaper in the long run
  • Make a shopping list and stick to it!
  • Never shop on an empty stomach
  • Go home for lunch or bring it in with you

Some other useful resources are:

SpunOut.ie