Money spent on education can be one of the family’s biggest expenses. Getting finances to fund for higher education is of great concern to the parents and student ranging from school fees, meals, transport, books and accommodation. Thus, they have to come up with the best way to invest in education at a lower cost while obtaining best education possible. Some of the ways to save includes;
Make a Proper Budget
· You need to know your sources of income. This may range from grants, bursaries, scholarships, loans, part- time work pay and parents. You need to calculate the total and make good plan on how to use the money. Any extra income should be saved for dry spell.
· You need to come up with a budget on how you intend to spend the money that you have. Match income with expenses.
Look for Students Allowances
· You need to ensure you take your allowances when you are out for a field study, games or a trip. It may seem to be little but it will save your expenses.
· In some restaurants, students will be served at lower cost, you need to produce students ID to get these discounts. Ask for the discount if need be.
Live with Students
· Living with students will lower your expenses, for instance, if you are a student living alone or with other students, you will not pay council tax while when living with non-students you will be required to pay the tax. Living with more than one student you will be totally exempted from paying council tax.
Search for Free Funds
· This can be inform of grants, bursaries or scholarships, for example, by completing UK passport forms for the higher education, you can obtain a bursary.
· You can also search for online scholarships, some focus on a specific field such as religion and health while other may be requiring students from a certain geographical area.
Check on your Expenses
· You need to check on how you spend on cooking and lighting the room. For example, you need to compare how much you spend on gas cooking than when using electricity.
· You need to save energy when not in use, use energy saving bulbs, turn of temperature regulators equipment such as thermostat when not in use and don’t forget water bill if it is not included in your rent this will obviously lower your bill.
Check on the kind of Loan you Obtain
· All loans are not obtained with the same interest, some debts are safer than others, and student loans are safer than bank loan. Avoid debts and especially banks loan because they can gain interest so fast that your debts ends up becoming so large.
· Try to work on what you have and stink to your budget to avoid debts.
Use Students Bank Account
· Use student accounts because most of the banks offers special terms such as 0% overdraft deal. This can save your cash.
· If you are not good in handling money yourself, learn how to budget and stink to it.
About Me:
Sophie Samuel is a Passionate Blogger from London UK. She has interest in writing and reading. She believes that blogs are the most efficient ways for sharing knowledge, she is writing from past 2 years and she wrote many articles for different blog themes. At present she is busy with doing a research on jobseekers allowance. If you want to know more about her, you can catch her at Google+.