In your list of priorities you need to include
two very important items that we often over-
Money for emergencies. It is really impor-
tant to put something away every month for
emergencies. You never know when some-
thing might happen and you have to catch a
taxi in the middle of the night.
Try to start saving, however little. You will
need a laptop at some point, or a deposit on a
new place to stay. Put something away every
month, preferably in a separate account. You
will be surprised at how it grows over time.
Even if you have very little, you
how you are going
to spend it. Otherwise you will
constantly function in crisis
of the practical
art of what is so overwhelming, especially
in your first year, is that you have to man-
age the academic challenges while looking after
yourself on your own, probably for the first time
in your life.
A basic skill that, once mastered, will serve
you for the rest of your life is learning to man-
age your money.
Step one on that road is drawing up a budget.
Make a list of everything you need money for,
for example accommodation, food, books,
clothes, transport, medical needs, toiletries
(soap, etc.) and, if possible, some pocket money.
Some of these you need every month, like
food, accommodation, toiletries and transport.
Other expenses only happen now and again,
like books and clothes.
Divide your monthly funds between the
categories you have listed. Allocate “now and
again” expenses like books and clothes a little
money each month, so that every so often
when they are needed you have something
put aside for them. Then keep track of
what you spend on each item. Try not to
dip into your book fund to buy clothes,