If you're planning to attend university in September, you should start thinking about your student budget now. You may think it is too early to start, however, this early preparation will allow you to begin university with no worries about anything other than where your lecture rooms are.
By creating a student budget, you can calculate whether your student loan will provide you with enough money for you to live on and if not, you can look at part-time jobs and other forms of income which will aid you in university. To make sure you're prepared, you should take a look at these top budgeting tips which will allow you to get the most out of your student experience.
Choose the best student account
One of the main advantages of being a student is your loan, so to make the most out of it, you should try to find the best bank account deal out there. You want to avoid making the mistake that many students have in the past, which is using their current account for their student loan. Unlike a student account, current accounts charge for overdrafts, while the majority of student accounts have 0% overdraft deals, which means you can borrow up to a certain amount in times of need without the drawback of interest.
Another great thing about student accounts is that many banks offer freebie deals, such as a free railcard or Amazon gift vouchers. Before choosing a bank, you should weigh up these options along with the overdraft limit, instead of just picking a branch just because it's around the corner from you. Once you have picked the right account for you and your student loan is available, try to avoid spending it all in one go. You should also stop yourself from reaching your overdraft limit and as a lifelong rule, never go over it, as this can be costly.
Pick the right accommodation
Although you can't choose where you live just yet, as your place at university is yet to be confirmed, this does not prevent you from having a look around. When searching for student accommodation, you need to consider several things, including price, because although the rent may seem low, you need to also look at other costs such as utility bills, Wi-Fi, TV license and more. You should compare these expenses with your expected student loan to establish whether you can afford this for the entirety of the student term.
Location is another massive thing to consider, as you want to make sure that you are close to your place of study without having to pay ridiculous prices. If your university is located in the city centre, nearby accommodation tends to be costly, so some students tend to move outside of the city and travel by public transport. This may be too much hassle, especially if you have a lot of 9 am lectures, so the best thing you can do is look early. If you're planning to attend a Liverpool-based university, you should take a look at the student accommodation available at RW Invest. These apartments offer great deals to students who are looking to live near their chosen university, while also providing an element of luxury to make you feel more at home.
Calculate your living expenses
Once you're settled and living in your chosen accommodation, this is when your budget really counts. To help you survive each term, you should make a plan which includes everything from food and household bills to clothing and leisure funds. You need to create a balance between your needs and wants because although you're living on a budget, you should still be able to have enough money to go out and enjoy yourself.
Just because you're a student does not mean you have to live in squalor and eat beans on toast for the next three years. Instead, you need to be smart when food shopping and choose essential items that will last you at least a week. To avoid spending your money on expensive and unnecessary items, you should make a shopping list, or better yet shop online. If you find that your student loan is starting to run low, you should start to cook in bulk and make lunches to go, which will prevent you from spending your money when you're at university and out and about.
Personally, I am over the top excited that we are on the cusp of turning the page on not only a new year but also on a new 10-year window of opportunities and possibilities!
You may be thinking, whoa…I am just embracing the fall season…yikes… it is tough to think about a new decade!
Yet it is this groundwork, this forward thought that you put in place TODAY that will propel you and lead you into greatness in 2020 and beyond. Designing a new decade rests in your ability to vision, in your willingness to be curious, in your awareness of where you are now and what you most want to curate. Essentially, curating what's next is about tapping into today with confidence, conviction, and decision. Leading YOU starts now. This is your new next. It is your choice.
Sometimes to get to that 'next', you need to take a step back to reflect. Please pardon my asking you to spend time in yesterday. Those who know me personally, know that I created and continue to grow my business based on enabling the present moment as a springboard for living your legacy. So, indulge me here! True, I am asking you to peek into the past, yet it is only in order for you to bring the essence of that past forward into this moment called NOW.
One of the best ways to tap into what's next is to clarify what drives you. To design a new decade, ask yourself this question about the past ten years:
What worked? What were my successes?
Make a list of your achievements big and small. Don't type them, but rather use ink and paper and sit with and savor them. Move your thoughts and your successes from your head, to your heart, to your pen, to the paper. Remember that on the flip side of goals not attained and New Year's resolutions abandoned, there was more than likely some traction and action that moved you forward, even if the end result was not what you expected. Once you have a full list of a decade's worth of personal and professional accomplishments, think about how this makes you feel. Do you remember celebrating all of them? My guess is no. So, celebrate them now. Give them new life by validating them. Circle the successes that resonate with you most right now. Where can you lean into those accomplishments as you power into the decade ahead?
Now comes a tougher question, one that I used myself in my own mid-life reinvention and a question I adore because in a moment's time it provides you with a quick reconnect to your unique inner voice.
If it were 10 years ago and nothing were standing in your way, no fear or excuses to contend with…what would you do?
Don't overthink it. The brilliance of this question is that it refocuses purpose. Whatever first came to mind when you answered this for yourself is at its core a powerful insight into defining and redefining the FUTURE decade. Bring your answer into the light of today and what small piece of it is actionable NOW? Where is this resonating and aligning with a 2019 version of yourself?
Then, based on your success list and your answer to the above question, what is your 2020 vision for your business and for the business of YOU?
Designing a new decade begins as a collection of 3,650 opportunities. 3,650 blank slates of new days ahead in which to pivot and propel yourself forward. Every single one of those days is a window into your legacy. An invitation to be, create, explore, and chip away at this thing we call life. One 24-hour segment at a time.
While you have a decade ahead to work on design improvements, you have the ability to begin manifesting this project of YOU Version 2020 right NOW. Based on exploring the exercises in this post, begin executing your vision. Ask questions. Be present. Let go of 2019 and the past 10 years so that you can embrace the next 10. Position acceptance and self-trust at the forefront of how you lead you. One choice at a time.
Don't get bogged down in the concept of the next 10 years. Instead position clarity and intention into each new day, starting today. Then chase every one of those intentions with an in-the-moment commitment and solution toward living a legendary life!