We’ve seen all the back-to-school articles and have read them ad nauseam. We get it. Yes, budgeting is important. Yes, finding deals on school supplies is also important. But things can get a lot more complicated, especially at the tertiary level. Oh, by the way congrats on making it into university! We know that today pursuing higher education often comes with a hefty price tag requires more discipline with your finances. So, here are some useful financial tips to help you navigate university.
LOOK OUT FOR GRANTS AND SCHOLARSHIPS: Many tertiary institutions offer grants, scholarships or some sort of financial aid to help offset the cost of tuition fees and other expenses. Also, several corporate companies and organisations provide financial assistance to students based on criteria such as academic merit, financial need, and volunteerism. For example, the VM Foundation disbursed $7 million through its scholarship programme last year, and expanded the programme this year with a new tertiary scholarship. Make sure you do some research and apply for the available options.
MAKE FRUGALITY A HABIT: Frugal is not about living a life of scarcity, but rather being conscious of your spending and finding ways to save money. So how about cooking at home instead of eating out where possible, or even shopping for second-hand textbooks instead of buying new ones, assuming the quality is still good. Speaking of textbooks, our next tip is to…
SAVE MONEY ON TEXTBOOKS: We all know that books at the tertiary level can demand so much from your pockets and purses, especially if you’re doing a double major. So, think about some ways that you can save money on your books. Some good options include borrowing textbooks from the library, buying used textbooks or even borrowing textbooks from a friend or classmate.
WORK AND STUDY OPTIONS: To offset some of your university expenses and earn some extra cash, you could consider finding part-time work. Look around your school campus or within the community for options. VM Group also offers a good summer internship programme that you could consider applying for next summer.
ACCESS FINANCIAL EDUCATION TOOLS: Invest in more financial education opportunities. An investment here can simply be your time. Look out for workshops and resources on financial literacy around your school. And be sure to look out for our VM sales team in your schools, sharing gems on financial wellbeing. These ideas can equip you with skills that last a lifetime.
All the best as you embark on this journey. We hope to see you in a few years, with not just your degree, but also your roadmap to a proper financial plan. Let’s talk more, right here.
