Throughout the academic year our anonymous blogger will be telling us about managing their money, mulling over the pitfalls and temptations of student life, and seeking your advice on the best ways to make ends meet
Next week I start university at Warwick. The school talk about student finance seems a long time ago ? it was way back in February and for some reason they scheduled it for a Friday afternoon, following a week of tedious lessons when I was not prepared to absorb a pre-rehearsed, monotonous speech. Rather, my mind kept drifting towards freshers' fortnight ? partying, joining societies, meeting people and embracing some newly found independence.
I remember being advised to apply for my student loan as early as possible to avoid missing the deadline, or not having it processed in time. However, trying to recall information from that talk was difficult. I could feel myself panicking as I tried to fill in the forms and include all the correct details. Fortunately I could ask my older sister for assistance who had been there, done that. What a relief when that was completed and I could go back to my academic bubble where I felt most comfortable.
The next job was a bank account. This was where I was dragged into NatWest by my darling mother to open my student account. I thought this would be a quick process, where I would be in and out within 10 minutes. How wrong I was ? I was already distracted by the adviser's hair and thick accent; and then to be thrown information about a savings account, a credit card and an insurance policy, on top of the actual current account, really overwhelmed me. The small print in the terms and conditions was also a worry, and I felt like I was agreeing to a contract that I wasn't mentally ready for.
Following my trip to the bank I have received a constant stream of letters with activation codes, passwords and leaflets for several types of accounts. My purse is brimming with numerous cards and I feel like a business woman. That's on the outside anyway; on the inside I feel anxious about remembering which account is which, and I wish it was all a little simpler. One thing I was looking forward to receiving was a student railcard. Oh the disappointment when I discovered that NatWest has scrapped that benefit.
As my start date has approached, any excitement about freshers' fortnight has sadly begun to vanish, and qualms about the safety of my laptop and how much money to spend on my weekly shopping have taken its place. What if I overspend? NatWest's answer to that is a piece of plastic, also known as a credit card.
There are countless items to buy before I even start, from laptop accessories to clothes, to stationery to ridiculously expensive politics books, and of course my freshers' pass ? a �55 ticket to every freshers' event in the first two weeks of term.
However, there were only so many times I could use the "I got great results, can you buy this for me?" line on my mother, before she answered back with "I am not a fool, get it yourself". But it was not my fault my maintenance loan has not come through yet ? it isn't due until the beginning of October.
But perhaps I am worrying too much. I have managed my finances rather well when money has been given to me in the past, so I should be able to cope with the virtual money that is now circling around.
Of course, the worries of budgeting at university will always be lingering in my mind. But I'm sure after an immense fortnight of freshers' activities I'll be slightly more prepared to face budgeting like a true student ? impulsive and unplanned.
I would, though, be grateful for your advice as I go along. As I start at university, perhaps you could give me your top tips for making my money last as long as possible.
Source: http://www.guardian.co.uk/money/blog/2011/sep/29/diary-of-student-financial-control
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