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e d i u G l a v i v r u S y t Universi
By Valerie Hartnett
Part two :
e c n Fina
Dear Student, Ah, money! A necessary evil which we in University never seem to have enough of, unfortunately! Everyone’s financial situation is different, but the expenses of third level education are many-varied and ever-changing. Who knew books could be so expensive?! Whether you’ve got a grant, a loan, a job, or a very generous family (or a combination of these), you don’t have a bottomless pit of gold at your disposal, and until you win the Euromillions jackpot, you’ve got to learn how to manage what you’ve got. This is where the age-old art of budgeting comes into play. Sadly, some money will have to be redirected from the beer fund towards rent, bills, college materials, groceries, travel and so on. The list can seem endless! It is wise to get into the habit of budgeting your money early on. Otherwise you may find your resources have entirely depleted by Christmas! Before planning any wardrobe overhauls, or winter skiing breaks, here are a few essentials that need to be thought about
Rent This is usually fixed at a set amount per week/month. Some landlords include the price of bills in their rent price, but not all of them do, so find out if these bills are included in the price you pay. Depending on where you live, and what kind of room you’ve got the price can vary from between €250-€350 per month, with some being cheaper and others more expensive. The date for paying this is also is also usually fixed, e.g. every Monday, or the first of the month, so once you know how much is due and when you have to pay it, you can be prepared for it. If, for whatever reason, you can’t pay your rent on time or in full, contact your landlord as soon as possible to explain. Don’t rely on this though, and don’t take advantage of your landlord’s generous nature. S/he may not mind changing your rent date to accommodate when you get paid, but if you find yourself dipping into the rent money to finance your nights out, you need to seriously sort out your money matters. Light and Heat These are due every two months, and
the amount varies depending on how much you’ve used. While these generally arrive at around the same time each billing period, there is no set date for a light or heat bill to arrive. There is however, a deadline for when it must be paid, so pay attention to it. Setting aside a certain amount, say €10 per week or so should help to cover most of your share. That way there will be no nasty surprises when the bill comes through the door! College Expenses These can be quite daunting. Make sure to buy the materials you need for your course as soon as possible. You are also usually expected to buy your core texts for your classes. Shop around for these books. See what you can pick up second hand. As long as the book is in decent condition, it doesn’t matter whether you’re the first owner or the fourth. Check the college notice boards or the Students’ Union second hand bookshop to see what’s on offer. Remember secondary book lists are for texts your lecturers want you to read, not necessarily buy. They will all be available in the library. Also budget for any trips your class will be
taking throughout the year. Include printing and photocopying expenses in your college expenses budget. You’d be amazed at how much this can end up costing. Food, travel and entertainment expenses can vary from person to person. Make sure to include these in your budget, and be reasonable when allocating your cash for them. Is €50 honestly enough for food for the month? Be honest here… it isn’t. The last piece of advice I’ll give you is to ask for help, if you need it. Your parents or guardians have had years of experience in budgeting their money (even if it is considerably more than what you’ve got), so they’ll be able to pass on a few handy hints and tips. The SU Welfare officer can also help, and give you information on assistance funds that may be available to you. Remember, managing your money is supposed to make your life easier, not add to your worries! Sincerely, An older and (allegedly) wiser student J