As far as managing your money is concerned, there is really only one thing that you have to keep in mind and that is that you will be living on very limited resources while you pursue your academic ambitions. By thinking ahead and being organised in how you approach your finances, hopefully you will be able to avoid sudden cash short-falls and minimise the level of debt you have at the end of your studies. By budgeting for the year ahead, you’ll be able to be more on top of your finances and more organised.

What is budgeting? Budgeting is the art of balancing your income (the amount of money you have coming in) with your expenditure (the amount you need to spend). By writing this down (your budget plan) you will have a better idea of your financial situation and be able to make informed decisions on how much money you will need. Take the time to put a budget plan together. It will save you many headaches down the road.