It can be wise to put money by in case you need it for an emergency. This could be if you suddenly need to replace a white good, need new school uniform for your children, run out of money for food before pay day or have a bill that you were not expecting. Many people will have some money put aside to cover these sorts of things, perhaps in a savings account. However, a savings account may not be the best place to keep it because it can be tempting to spend it as it is easy to get hold of. It probably will not earn a lot of interest there either because interest rates are so low.
A pre-paid credit card is a good way to save the money and you will not be able to spend it if you leave the card somewhere where it cannot easily be accessed. Then if you need to buy something in an emergency, you will have the money on the card ready to spend. Most places will take payment on a credit card and you will be able to therefore use it to pay for something you need in an emergency. Continue reading
Budgeting as a student is an ordeal for most people, and trying to find enough money to buy the right foods, new clothes and textbooks that you need can be a real struggle. While short term loans are a possibility for students, it’s not always the best option, and you can definitely make things a lot easier for yourself by thinking about where the problem comes from and what you can do to prevent any financial problems happening in the first place. Here are a few of the things that you can do as a student in order to save some money.
Make your own food
You should avoid buying takeaway food, and even packaged and processed foods can work out a lot more expensive than you think. You might think those £3 meal deals are a great bargain, but if you do that twice a day each day of the week, you’re spending over £40 per week and not even getting the goodness than you need in your diet. Plan ahead and make a shopping list, then visit the local supermarket and pick up some fresh foods to cook yourself. Continue reading
Money, money, money. A lot of us bemoan what a strange and awful thing it is that we allow our lives to be dominated by these weird shiny chunks of metal and sheets of paper – it seems at times absurd that the stuff actually equates to anything of tangible worth. As a matter of fact, more often than not we’re right to value the actual material possessions money is used to buy more highly than the money itself. In an economy seemingly trapped in a spiral of inflation, the value of that money you’re keeping under the bed for a rainy day is becoming less and less by the day. We’d urge you to consider investing it in something, which is instead becoming more valuable all the time.
It’s difficult to decide how exactly we should invest our hard earned cash to ensure not necessarily the best, but crucially the most secure return on our investments. Having said that, there are a few ways to invest which tend to yield fruitful results for most speculators. Firstly, make sure your finances are healthy – if you’re in the red you need to look into measures such as a debt consolidation loan before you attempt to build up some capital and scout out investment opportunities from a solid footing. Now, here are a few fields in which to make those definitive first investments. Continue reading