Learning to live on a student’s budget can be quite difficult, particularly for those who have previously been employed on a full time basis. In today’s competitive job market, many workers are opting to return to studies and complete a post graduate qualification in order to maintain up to date skills for their industry. Returning to full time study, after working, can often put a great deal of financial strain on someone who has been living a lifestyle according to their budget. In many cases, people often don’t see furthering their education as a possibility, due to lack of finances. Whatever the case may be, life on a student’s budget can be difficult, so it is important to know how you can make it easier.
Choose your Mode of Study
It has never been easier to study a course online, than in today’s world of ever growing technological advancements. Faster internet speeds, higher web capabilities and better computer specifications make it easy for students to successfully complete their studies and stay in contact with their lecturers while doing so. Studying on campus often means that you have to give up full time work, however, studying online enables you to keep your fulltime job (and the full time wage!) whilst still achieving your qualification. If you are worried about how you will afford to maintain your current lifestyle when returning to study, online study courses provide the perfect option.
Apart from course fees, study materials can often be the biggest expense when attending university. For textbooks, try finding a used copy of the one you need, as this can often save you hundreds of dollars. Many online journals and articles are also free, or try checking out your university or local library for more free resources. If you can’t find what you are looking for at the library, try an online book shop, before hitting the department stores, as you will usually find more competitive pricing.
Dining & Entertainment
After a long day of studying, sometimes all you want to do is go out for a nice meal and see a movie. Unfortunately, students need to be more frugal with their money and so you need to find other alternatives. Frequently dining out is not usually an option for university students. Social interaction is a great way to forget about study for an evening, but try something like staying in and hosting a dinner party for a more cost effective option. Free entertainment can be found in most cities, whether you go and listen to some free live music in the park or spend a day at the markets, you are sure to relieve some of the stress of studying.
While a qualification may help to provide you with greater job possibilities and higher rates of pay upon completion, living on a student budget can be difficult. Save money where you can, by following these tips, and embrace your frugal student lifestyle!
Brendan is Budgeting Expert form Sydney, Australia. He believes students who choose online study courses are often in a better financial position due to lower fees and more flexible hours for working. Brendan is currently writing his second book on budgeting.