University life is exciting and challenging for most students – one of these challenges is building on your financial knowledge. The costs of university can often come as a shock to students and parents/guardians alike.
Students have different levels of knowledge on financial management and budgeting - Part of your transition from under your parents/guardians wings to independence is taking time to understand and work on your own financial wellness.
As a first year or any other year student, it is important to gain and retain 'Financial Wellness'. Financial Wellness can be difined differently however, the basic definition can include:
Daily-Monthly control over finances / Capable of absorbing unexpected expenses / Track and obtain financial goals / Obtain a level of financial freedom allowing positive decision making which in turn allows us enjoy life
Financial wellness starts somewhere – Consider how you value your financial knowledge and understand it. Whether financially independent or dependent on parents/guardian’s – take this step now towards your development as an independent adult.
The first step to gaining financial wellness is by changing your behaviour towards personal finances - Increased knowledge of information proivded will assist in this area. Start planning now. An action plan i.e. budget, can be developed from planning. Budgets are not a 'once off' action, they require review on a weekly/monthly basis - This allows for keeping on track and and possible adjustments. It takes effort but will stand to you in the long run. Ignorance of such concepts can often come a great price.
Student Support & Development offer information on the following (click on link) -
To asisst in planning/budgeting (samples set out in above links) contact
Celine Geraghty Financial Administrator E: email@example.com T: 01 700 60 55