I wish, I wish, I wish somebody told me that student loan could serve so many purposes. I went to university with the understanding that I had to budget for maintaining myself, accommodation and luxury spending. After hearing about what people have done with their loan, and making my own decisions, I've come to understand that the way you manage your student loan can positively impact your life. Here are 5 things to investment in, and ideas for you to use, compared to buying the same old alcohol, trainers, clothes, make-up sorta stuff...you know what us students can be like. Hope this helps!
1. BUSINESS PLANS
Setting aside a couple hundreds or however much is suitable to your cause can help you create/follow through a business plan.
For example, paying for make-up classes will give you the necessary skills to start your own make-up business.
I spent money on baking equipment, ingredients and more to enhance my baking skills, which have allowed me to practice all year. I definitely would not have been better than the year before if I hadn't made this investment.
2. BUYING PRODUCTS
What types of products are you spending your money on? In my first year of uni I didn't necessarily have the mindset of quality over quantity or how will this product benefit me?
Now that is all I ask myself. Ask yourself this, even when it comes to clothes and more luxurious things. This isn't for the means of looking good or having the best stuff, it's about not wasting money on something you'll have to replace, and getting your moneys worth!
3. FOOD/HEALTH
This may not seem important, but it is. It's statistically proven that 3 in 8 students become obese in university, have health problems and suffer from mental illness.
How does this relate?
Eating enough, eating the right food and not depriving your body will prevent the problems stated. Mental health is not helped by poor eating as the mind will become weak and tired making the situation worse.
It is possible to eat well at uni, it is definitely up to you, and how you budget/how many times you eat out.
Buying vitamins and supplements can also be very handy.
(plus it's alright to call your mum/whoever cooked for you to get some tips and advice)
If you need meal ideas, check my food section!
4. CAR
If you put money away, sorting out your driving is definitely a great investment.
Maintaining a car is however not a cheap thing, and is in fact very costly. So keep this in mind and I would definitely say putting money aside to sustain driving would relieve you a tad. This option is for students that are working or have other forms of income, there is no point of spending money on getting your license to not drive!
5. TREAT YOURSELF
Despite all of these goals, you need to treat yourself for the sake of sanity, this can consist of anything you like, as long as you're on budget!
For example, treating myself usually consists of something to do with food, massages and appearance (do nails, lashes done, buy make-up etc) monthly if costy, weekly if cheaper.
I hope this is something you can use, or get some more ideas on regarding how to use your student loan best :)
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