Before university, life was simple. There were no bills to pay, no weekly shopping to do, and no money management needed at all!
However, everything drastically changed after I moved out of my family home, into student accommodation in the centre of London. Also known as the most expensive student city in the UK!
Having no experience of living alone or financial management, I really struggled! And the huge student loan payment in my bank account didn’t help! I wasn’t keeping track of where my money was going or how much I was spending because it just felt like I had so much money – until I didn’t! The feeling of not being in control of your own money is incredibly stressful, but I soon learnt it doesn’t have to be that way!
Everything changed when I discovered budgeting! Creating a simple spreadsheet with information on my income and expenses allowed me to start budgeting and regain control over my finances. I was able to set weekly allowances which encouraged me to be more mindful of my spending habits. It also enabled me to discover areas in which I could potentially save a lot. Instead of always ordering takeaways I cooked my own meals, which was not only cheaper but a lot healthier. Instead of travelling around on the tube, I would walk around the city and really immerse myself in the beauty of London. There are so many small changes you can make, that can immensely improve your financial situation and better your life!
Budgeting can change your life!
Anonymous Author
Studying Medicine MBBS (UG)
Need to speak to a Money Adviser? Call the Student Advice Line.
Interested in learning more about budgeting? Take a look at this video workshop for more information!
The King’s Student Money Mentors blog shares our students’ personal experiences and thoughts on money-related topics. Any reference, opinions or recommendations on a particular company/brand are only the views of the student(s) who wrote the blog post. King’s College London, the Money & Housing Advice service and the Money Mentor project do not share the views in the blogs nor endorse any of the companies mentioned. Readers should conduct their own research before using any companies mentioned in our blog posts.
great content, thanks for sharing