You have landed in the place of your dreams. You have the ticket to the course you have always wished to pursue and the university. However, the new life does not come in handy as it hosts many financial and personal challenges. It is upon you how you decide your lifestyle to be.

No one will tell you when to wake up and the correct time for dinner. Along with taking your first step into the university premise, you are also taking your first step toward finances. And thus, it is not always easier to know your best financial choices. But you can learn these eventually as you mature in years.

If this constant fear of financial downfall haunts you, the blog lists some financial management tips for freshers.

How To Be on Top of Finances as a University Fresher?

A lack of financial literacy can impact nearly every decision in the student’s life. It may lead to bad spending habits, unnecessary expenses, and exhausted savings.

Many of you must be clueless about how to manage money as a fresher.

Undoubtedly, university life comes with freedom, but you must manage your finances. Here are financial management tips for freshers to help balance available money well.

1) Brainstorm ways to use the money well

Think about money as not something to spend but a wise investment. Identify your immediate and short-term needs. Make financial goals for the month. Refrain from considering a yearly financial plan as sticking by it as a student is tricky. For example,

“ Do you want to spend €25 to buy books for the next semester?”

“Do you want to save 4 semesters a fixed amount to buy a car?”

Both of these are the best examples of short-term and long-term financial goals.

It is always best to discuss financial matters with your guardians before starting your university life. Analyse how to use credit cards smartly without getting indebted and defaulting. Credit cards consume the most purchase part of a student’s life. Thus, using it wisely may help you save well.

2) Organise your financial life setup

There are some university life expenses that you cannot skip. It can include anything like-

Stationaries
Books
Rent
Food
Notes Xerox
Financial Aid

After prioritising the purchases:

Identify how much you need to save monthly.
Get a round-off figure that you would need per month.
Check whether your list includes some discretionary expenses.

If yes, keep it to the bare minimum.

To estimate your expenses, you can create a spreadsheet. Try to balance everything along with saving for emergencies. Staying by the economic segregation (necessary and discretionary expenses) to avoid debt.

3) Use Cash instead of credit cards for purchases

If you are starting your university journey, there will be many distractions. You would feel like buying everything you encounter. But it would hurt your financial bottom line; savings. If necessary, use a debit card for all your everyday needs.

It is better than buying things on credit. The interest rates are competitive on credit cards. Undoubtedly credit cards are significant in terms of lucrative rewards and offer it comes with them, but they can lead to mounting debt. Keep credit cards for essentials/emergencies only.

Cash is the best way to finance your needs. It would help you track your finances better and prevent overspending.

4) Benefit from student travel discounts

You should not consider buying a car or another vehicle to commute to the university. Many universities provide pick-and-drop facilities. But you can surely benefit from student travel discounts.

Students taking a mode of transport to travel to and fro, the vehicle company may help you by providing a discount. You can save around €251/year on transport by doing so. It is indeed an achievement as a student.

Or if you know to drive and it is your passion, check whether you can get a car to drive on rent. You can even share it. It would help you split up petrol and maintenance costs. Apart from that rail card is one of the best options to save on transport.

5) Avoid disclosing financial details

Students often get a little casual with finances in their initial university days. It is natural to be excited, but safeguarding your finances is also important.

Here are some important tips you must be careful about while dealing with credentials.

Avoid giving details about your account number or Social Security unless you know the purpose.
Never save the account details on paper. Thieves could get or decode it easily. If you want to, keep it at the hard-to-reach-out place.
Avoid keeping bills in your mailbox
Avoid entering credentials on the website unless you know that the website is secure.
Review your credit cards for unauthorised transactions. If you find any, report it to the authority immediately.

These are some tips regarding credentials that you must be wary about. Always set hard-to-crack passwords to protect your details from cyber fraud.

6) Be careful during the scholarship application

A student’s life is hard in every way, but the trickiest is managing finances. If you seek a little flexibility on the budget, check scholarships for which you may qualify. These are excellent ways to finance your needs without falling on finances or asking for help from roommates.

However, while applying for scholarships, be careful about the following points:

Never pay a fee for scholarship registration
Do not fall for a guarantor or person claiming to know everything
Identify the eligibility criteria before applying. Else, you may lose up wasting your time filling out the form.

While scholarships may help you meet the essential requirement, you must save half of it as an emergency fund. It would help you meet challenging financial circumstances.

However, never tap it for less critical purposes.

On the other hand, facilities like quick cash loans in Ireland help you counter time-sensitive needs like- medical emergencies or urgent educational trip booking. It would help you avoid touching savings or emergency funds for help. You can get instant cash help if you tap these loans urgently. As a fresher, you must be on top of finances and borrow only a small amount to pay comfortably by the deadline.

Bottom line

Student life is exciting but, at the same time, challenging. These financial management tips for freshers are the best to counter urgent and short-term goals without falling on finances. Prioritise your expenses and then finance them. The lower you keep your spending, the higher your savings will be.

6 Best Ways to Save On Groceries and Food Items

By Mac Liam

On February 24, 2023

In Loan

You are already struggling with so much on your plate, like- petrol bills, utility bills, child fees, rent, etc. Why put an extra burden on yourself by dedicating one portion to food?

Whether it is a small celebration or just an ordinary day, food is an essential part of your life. Moreover, with inflation ruling the pockets of individuals, cost-cutting on certain things has become imperative.

The groceries are getting costly due to transportation costs and surplus availability. Everything from daily milk and tea is soaring in price. You may be unaware that you can make the most of the leftovers and save on food. The blog here lists some lesser-known ways to save on food and grocery costs hassle-free.

How To Save On Food Given The Minimal Income And High Price?

The cost of food rose to another 0.6% in January 2023 from the last month. There is a sharp price hike for maximum food categories except for fish and meat. And to utter shock, food inflation is at an all-time high this year in the last 45 years in the UK. It is indeed an alarming thing to counter.

Why are food prices rising in the UK?

Inflation in food has gone recently due to the following reasons:

Soaring energy prices owing to the Russia-Ukraine war
The war is also pushing the costs the animal feed and fertilizers
An increase in demand after the lockdown
Brexit regulations

It is the very reason behind the rise of prices of essentials by 65% in the past 12 months. Right now, the primary concern among the country’s citizens is countering food costs. If you can relate to the concern, here are some ways to save on food and grocery costs hassle-free.

1) Plan your meals portions carefully

Yes, it may sound easier than done. But having a good meal plan can save you from the weekly meal planning hassle. Identify what you would need for the week – like the ingredients, vegetables, etc.

Doing so can save on adding something extra to your kitchen counter that you hardly need. Invite the attention of the other members of the family to prepare a weekly menu. It would help you identify and prepare dishes everyone likes and buy ingredients in advance.

Buy ingredients by the weekly meal plan. Do not buy extra; it will go to waste- like buying extra vegetables.

2) Keep stock of the available ingredients

Always keep an eye on the things you already have

Planning and stocking things will help you cut through buying extras. If you have good spices for the week, skip them.

Stress other things that you would need more of in the coming week. Make a list. Double-check the non-perishable items on your list.

And while doing so, check your fridge and freezer. You may find some leftovers like meat, egg, and milk. Please do not ignore it and wrap it up by making delicious dishes the next day. If you doubt the quality, throw it in the bin.

3) Identify things that you can buy in bulk for profit

Certain things, like buying mince in bulk, can be cheaper than buying a limited quantity. Identify things like these to work within your budget and save more. However, buy such things only if you need them weekly; otherwise, skip them.

Do not fall into impulse buying encountering the big banner stating discount. It is easy to give up on that temptation. It is especially when you are in the supermarket. It is hard to resist certain things there. To avoid this, take only the cash you need.

4) Know when to land in supermarkets

When you are out to shop, decide whether it is the best day to do so or not. Some days are shopping when it is cheaper than other weekdays. Identify these in your area and grab th opportunity. The grocery stores either re-stock their stocks or mark what they skipped to sell the last week.

And because they are out on clearing the stock, they offer a whopping discount on some groceries. However, always identify the freshness of the same while buying. If you suspect it leaves it, no matter how cheap it is. It may cost your health.

Early birds get to hit the clearance button. Thus, be the early bird when you shop on these busy days. You may encounter a good crowd, thus choose a time when there is less traffic in the supermarket, and you can shop without panicking.

5) Prefer to pay with cash than credit cards

It is a thumb rule while shopping online- Keep up the cash as cash is king! You are less likely to fall or spend extra when you have a grocery list. When you reach the store with the needed cash, you only spend the amount you ought to.

It would help you buy vegetables than vying over ice creams and chocolates. Buying such items occasionally is okay but stop when it begins to regulate most of your finances. You can either shop for the month or the week.

It is better to go by the week as the freshness of the items matters to cook a portion of healthy food. However, you can buy items that last longer than a month on week offs or as suitable. Follow the same procedure while doing so.

6) Check out reduced food sections

Many people avoid the reduced section when shopping for food because they mistakenly think that the counter must be out of food or would not be healthy.

However, this isn’t the case. The food in the reduced section of your supermarket has products that share close dates or near expiry. It is ideal only if you have same-day usage.

But if you have one, you can save on the costs of such items.

However, if you want to avoid taking a chance and need extra cash to invest in healthy stuff, tap easy and quick loans for bad credit online. You can easily spot and fund your purchase without second thoughts about the stuff.

Bottom line

These are some ways to save on food and grocery costs hassle-free. Apart from this, it would help if you worked on your spending habits and financials. You will be surprised to see your wallet by the end of the month.

6-Ways to Pay for Your Child’s Extra-Curricular on Low Income

By admin

On December 6, 2022

In finance

Extracurriculars are critical to a child’s growth. It helps develop and master abilities like discipline, self-reliance, social skills, and self-esteem. It grants children exposure and confidence to perform better outside their comfort zone. Around 80% of guardians ensure a saving pot for their children from a younger age to support their dreams.

However, supporting children’s dreams becomes almost impossible amid rising living costs and liabilities. Most individuals feeling the financial blows are low-income earners. If you could relate, you must have found yourself on edge after meeting liabilities and children’s requirements. And sometimes, the wants exceed the deadline. Guardians often resort to external financial assistance like quick cash loans to pay immediately. It helps them meet the requirement and ensure a good smile on their child’s face.

If you believe that your 40% of income involves children’s extracurricular expenses like- guitar classes, cricket kit, chess classes, swimming, etc., then the blog is just for you. It would help you streamline your income and save for your child’s extracurricular activities stress-free. Manage finances well and quickly.

Incur Extracurricular Expenses with Financially-Smart Decisions

About 30% of extracurriculars involve sports. And sports kits and other equipment cost a leg and arm for low-income earners. Amid all this, one could hardly think about saving money for a comfortable retirement. Parents must not sacrifice their dreams to pay the cost. Here are some ways to save your child’s extracurricular activities stress-free.

Ensure a bi-monthly strategy; a monthly savings strategy involves considering all the liabilities for the month and saving for them accordingly. A bi-weekly approach is ideal for individuals sharing tough times and ensuring the bare minimum after meeting the discretionary expenses. It works ideal for self-employed, new startup business owners, and freelancers. Total all costs and divide them with the money you will need for your kid’s extracurriculars in the four months. You will not face a last-minute panic if you analyse and budget early.

Look out for scholarships

If you are seriously strapped for cash, check out the scholarships your child may qualify for. You may find some popular scholarships started by the government of Ireland. Moreover, there are some scholarships or grants that your child may qualify for within the local area or premises. A pro tip could be to spot new businesses or startups looking for a breakthrough.

Tap those that relate to your kid’s extracurricular activities. You may leverage the benefit of some of the brand launches some promotional events and is in for a massive giveaway. You may grab a kit or equipment without spending a buck. It could save you around €500 on the same gear.

Check for used kits/ equipment

If your child is an athlete or involved in similar extracurriculars, you would be aware of the expenses that come with the kit and gadgets required to enhance their performance consistently. You would not believe it, but in some cases, the costs exceed the registration fee required to play the competition. And this may prove a severe jerk to your finances.

However, used kits and equipment may malfunction if it is old enough. It could impact the performance on the most important day of your child’s life and confidence. Dealing with it could prove more challenging than arranging the new equipment the very day. You can rationalise this with cash loans in Ireland.

These are the best support when you wish to ensure the best for your kids and surprise them with the most anticipated thing. Nothing could meet the excitement of the new equipment and the encouragement that comes with it. However, if your child is in the initial stage of learning, used kits could be helpful.

Start a side gig

Although, as parents, you feel trapped in professional and personal spaces that hardly leave any scope for a side income. However, if you want to earn extra to meet your family’s needs without any pressure, then having a side gig can help. The idea of dedicating spare time to work may need to be more convincing, especially after work hours. But it could sincerely help your finances grow and help money management.

It would grant you the flexibility to plan out other things that have been on your wish list for since long. Tap your passion and explore the available work or gigs that can help you earn well. You can also choose to work on comfortable schedules instead of regular sessions. It is a great way to save your child’s extracurricular activities stress-free.

Tap personal loans for child’s needs

If you wish to stay tension free regarding your children’s education or extracurricular-related expenses, then personal loans are the best thing to go for. It helps you achieve every child’s goal without fear of missing it at the last moment. You could check in for the loans according to the income parameters. You could spot multiple loan products in the Ireland marketplace for low-income bracket individuals.

These, apart from helping you improve your credit score, help you re-align finances and achieve your child’s dreams. Choose the repayment structure in flexible and affordable instalments for 3,6,8 and 12 months based basing your income and other liabilities. It is one of the best ways to ensure a stress-free life for your kids without compromising the bottom line.

Rent a musical instrument

If your child is a little one learning lessons, it would be ideal first to check whether the chosen extracurricular activity is right for them.

For this, renting the equipment or kit needed would be ideal.

If your kid can gradually develop skills in the respective field, then you can go for the new ones. Conversely, you can halt and save until the child gain expertise in the particular skill. You can buy one when you assure of the same.

Bottom line

These are some of the best ways to save your child’s extracurricular activities stress-free. So, whether you want to budget for violin lessons or the tennis match kit, seamless cash loans can help with quick finance. At the same time, these become all the more palatable with an earning, loan repayment, and spending strategy in place.

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6 Financial Tips for Students Starting Their New University Life