The high school years are over, make way for the dreamed-of student life! Yes, but now, who says student life says additional expenses and above all budget to manage. Some will always be able to count on mom and dad but this is not the case for everyone and above all it is far from being the best solution. So what are the key steps to follow in order to be able to live your student life peacefully and establish your monthly budget?
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The transition to student life is an important step for every future adult. A feeling of freedom and independence is offered to you and you cut the cord a little more with dad-mom. But this also leads to more things to manage and in particular its budget. And we know that student life is expensive, hence the importance of knowing how to control your expenses.
Student budget: list the expenditure items
Properly managing your monthly budget is above all knowing the amount you have. Help from parents, APL, stock Exchange, student job… Take stock of the cash flow you have each month and note your foreseeable monthly expenses.
Housing
Accommodation is a student’s biggest expense. And this does not only include the amount of rent. Depending on the accommodation in which you live, you will have to add the charges (electricity, water, heating), the home insurance but also the payment of the housing tax. Some accommodation, such as Crous student accommodation or hostels for young workers, provides rooms at moderate prices, including charges and dispensing with housing tax. Awarded most of the time on social criteria, their number is very largely insufficient compared to the demand, in particular in the large student cities. Homestay accommodation also exempts from housing tax.
Transportation
Second item of expenditure, transport. Although student status entitles you to discounts, the cost of transport can quickly rise depending on the student cities and the number of trips you have to make to attend classes. See if you can’t ignore this expense item by using bike, scooter or just walk.
Scholarship fees
Who says enrollment in higher education says tuition fees. And there too, the expenses incurred can be enormous, depending on the school in which you register and the equipment necessary to ensure a good education. Computerbooks, various supplies and registration fees represent a real investment.
Daily living expenses
Food, package Internet and telephone, student health insurance are all compulsory expenses in daily life to be included in your monthly budget. The purchase of masks even of gel hydro-alcoholic is also added to an already tight budget in this period of health crisis.
According to the Fage (Federation of General Student Associations) the cost of academic year 2020 amounted to 2,361 euros, i.e. a 3.2% increase compared to 2019. The E.Leclerc Observatory of New Consumption, in collaboration with Ipsos, points to a average student budget of €590 per month in 2019 for €436 of average monthly expenses. But then, how to cope with such a tight budget?
Student budget: save money at all costs
If student life is not always easy, it nevertheless entitles you to many reductions.
For leisure, the student card often entitles you to reduced prices or even free admission to certain places for shows or to enter the museum. Cinema, sport, bars also very often offer student rates.
- For housing, if you cannot qualify for housing based on social criteria, you may prefer shared accommodation or homestay accommodation, allowing you to reduce or share the amount of the rent and the various charges.
- For school supplies, do not hesitate to go to the book exchanges which allow you to recover school textbooks that are still valid at a lower cost. Register at the university library to avoid buying your books at high prices. Regarding the purchase of a computer, many banks offer a ready at zero rate with staggered repayments.
- As for food, don’t shy away from the university restaurant which allows you to eat properly at very advantageous prices. Many applications, such as Phenix, Karma or TooGoodToGo also allow you to do your shopping differently and collect food at very advantageous prices. In case of big difficulty, do not hesitate to go to solidarity grocery stores.
- For the Internet and the mobile phone plan, do not hesitate to compare the offers, even if it means changing operator regularly. See if you can share an Internet connection with several to reduce the bill.
Manage your student budget
In order not to be in the red at the end of each month, it is important to note each cash inflow and each expense. For this nothing better than an Excel table to list what we have and what we spend per month. This allows you to view the expenses, including those deemed non-priority and which can be deleted the following month. The main thing is not to live beyond your means because this can lead to more serious problems.
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