Should I Be Saving?
As a student, you probably don’t have a lot of money to play with. i know I don’t. By that token, I can imagine every penny of your income goes towards your immediate costs – rent, utilities and those all-important textbooks. However, have you ever thought about saving?
With the temptation of pay monthly deals for everything from laptops to headphones, credit cards and other ways to buy things now, it is harder than ever to see the point in saving up money. However, even when ‘responsibly’ using debt products, it can be so easy to let things get out of control – I know myself.
People say that setting up a regular payment into your savings account on the day you get paid from your work or from your student finance helps you to save without noticing the money leave your account. Even better is to have a savings account at a different bank to your main account. This way, you won’t be tempted because you won’t even see that the money exists!
You can save whilst a student, even if it’s just £50 or £100 a month. This way, you’re building up a nest egg to allow yourself to feel comfortable as time goes on. If an emergency crops up, you can deal with it! I find it very hard to save, but I am starting to see how vital it is to feeling comfortable financially.