Financial Advice For School Leavers

Most school leavers don't have a great deal of money, so they have to be careful what they spend. If you are heading off to university, you may be even more worried that you won't have enough money to see you through. But there are ways and means of saving what you have - or at least making it go further. Read on for some financial advice.
The cost of accommodation is one of the biggest for all school leavers. The best financial advice on accommodation is if you are able to stay at home for a few years, then do so, even if you pay your parents a small sum to help cover costs and food. If your Uni is too far to travel to daily, then living on campus is usually cheaper than getting private accommodation. There are often houses around a university that are let to students on a share basis. You may have to share with up to five other people, but these are often work out a bit cheaper than leasing a whole flat to yourself. If you do get a private flat, see if you can share the space and costs with a friend.
Get some financial advice about budgeting if you've never done it before. There is plenty of free financial advice online that covers many things as well as budgeting. Budgeting not only means spending wisely, it may mean not spending at all for those treats you can do without, such as alcohol and cigarettes and yes, even chocolate. Getting the most bang for your buck is important too.
Shopping for food near to closing time will often get you bargains that were not available earlier in the day. Buying in bulk - combining with other students - is also a way of saving money. Buy clothing and other items only when it is on sale or discounted with a two for one special.
Take advantage of the Uni's financial advice as far as fees go. They have advisors that will work out a plan with you that will see you through. Books are often a big cost, but you don't need to rush out and buy them all on the first day. Some will be available through the library; others you'll be able to purchase second hand from last year's students.
Following the financial advice of professionals, whether from an online source or offline is very important. You can listen to much financial advice, but unless you put it into practice there will be no benefit from it.

By Melanie C