The Low-Down on Student Money Problems

How much money do you spend per week? $50, $150 $300? But more importantly, what do you spend it on; food, rent, Uni fees, alcohol? There are so many students in the red because they don’t know how to manage their money properly, they just live day-by-day, hoping that what’s in the bank will get them through until their next payday. You’ve got to start looking after your money.

In this article, we’re going to be looking at several different ways work towards solving your money problems – mind you, these tips aren’t exclusively for students, anyone can use them for their success.
Relying on Centrelink?
For those of you that aren’t from Australia, Centrelink is a government-funded agency within the Department of Human Services that delivers a range of government payouts and services for retirees, the unemployed, families/carers/parents, people with disabilities, Indigenous Australians, students aged between 16-24, and those from diverse cultural backgrounds. Many people rely on this service to give them fortnightly payments to keep food on the table and a roof over their heads, as well as the luxuries that they otherwise wouldn’t be able to afford (alcohol, cigarettes, tickets to events etc.).
Although it’s great to get benefits from the government of all tax-payers money, you’re expected to use it wisely, to sustain a healthy lifestyle.
Have a Student Loan/HECs Debt?
Yes, these are absolute life-savers in your studying years, but you’ve got to remember that you have to pay them back at some stage of your life. Having an education debt is one of the better debts to have, no doubt about it, but from here on in, try to minimise your borrowing, having that certain burden is going to be hard to shake. Lessen this burden by applying for grants and scholarships, purchase second-hand books, and really look into the education quality of each of your possible courses, do you really have to go to the top-ranked college or university for the same level of education that you can get at a lesser-ranked one?

Got a Job?
Pretty straightforward question, but do you? Even if it’s at KFC, or a clothing outlet store, any income is better than no income, at least you know that you’ll have something coming in your bank every payday. If not, why not? There are so many different ways to get a job nowadays, you can begin by volunteering, try work experience. Another way is to get that dream job is to have lower expectations that what you ultimately want to do – this means that you accept a job to Subway before you hit the big time in graphic design, or you work as an aid, or relief staff member for a year or two before you get into that teaching position you’ve been studying your butt off to get into. It’s all about your mindset and having the ability to understand that you have to work your way up to
greatness, whether it be that you have to sit behind the admin desk in that law firm before you get to become that speedy typer that takes care of all the court notes

Going Out Every Weekend?
This is the ultimate killer, using your money to party with your friends. Yes, it’s a great social outlet, and it’s fun to get absolutely plastered drunk every weekend, but you have to realise that there is bigger and better things to work towards than seeing how many Cruisers you can chug before vomiting on your mate’s shoes. With the money that you use to get into the nightclub, on top of the slab of drinks that you bought, you can ultimately use it to feed yourself for a week, put it away for a holiday, or invest it in something that will get you a higher return on it so that you can enjoy your
retirement debt-free.

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