It is that time of year again when thousands of young people up and down the land are off to university. It is obviously a big step, with many of them leaving home for the first time. Here are a few things to be thinking about if this is you.
First off, remember that going to university is an enormous financial commitment. If you are being charged £9000 a year on fees you are probably are probably thinking ‘no kidding!’, but you also need to remember all the other costs that are associated with higher education.
In addition to fees you will be forking out for books, for rent, and likely for social life that only you privileged academic elite get to enjoy. Add it all up and it will certainly be the most expensive thing you have ever signed up to buy! Treat it with respect, get your moneys worth, but most importantly know that the money side is significant, and something that needs to have attention paid to it.
The importance of budgeting cannot be overstated. Governments can get away with spending trillions they don’t have, but the same does not apply to mortals. From the get go it is vital that you get a handle on your incomings and outgoings, and get a workable compromise between them.
When calculating your income there are some things you should count and others that you should not. Obviously any wages you earn count as income, add to this any kind of allowance that you receive. As well as this you should add in your student loan – make sure to note how much you will be paid and when. It can be tricky to find out this information, but it is essential. Do not include as income things like overdrafts or credit cards, you may need these to see you through the unexpected, but you cannot count on them.
Be realistic when you are calculating your outgoings. You cant dodge rent, and you cant live on air. Its also not practical to assume you wont have any leisure expenses – it just wont happen! Know just how much you are going to have and you can set sensible limits. When choosing who to bank with, there are plenty of banks who offer student current accounts that allow the use of mobile banking apps to keep track of your money in real time, and this can help stop things getting out of hand.
Try to take advantage of student discounts where they exist. Sometimes local businesses will offer money off to those studying – why not seek them out and support the local economy in the place you are studying. Students can get a bad press, so why not give something back.
The Whole Truth is delighted to welcome Janelle who submitted this guest post about saving money when travelling. Janelle is an avid travel enthusiast and blog manager for one of the leading auto movers in the United States.
- Call ahead. If you’ve made reservations at a hotel in another country, make sure that you contact them PRIOR to your arrival in order to verify the form of payment that is accepted (ex. Credit card, traveler’s checks, cash, personal check, etc.). Additionally, if you are hiring an auto transport company to ship your vehicle to another country, make sure that you verify what form of payment is accepted as well as whether or not there is an additional fee charged once the vehicle is received.
- Contact your credit card companies. In order to avoid having your credit card account frozen or any other complications, make sure that you contact your credit card agencies ahead of time to let them know the dates that you will be out of the country. Be prepared to provide them with information such as: where you will be staying, city/country that you will be traveling to, number of days that you will be out of the country as well as any other unusual countries or places that you might stop at along the way. *If you have an American Express card, you do not need to notify them.
- Be prepared for international Fees. The maximum that an American credit card company can charge for the use of a credit card outside of the country is 3% on any purchases made. Be sure to ask your credit card company about their rates as this may affect your choice of what credit card to use while you are traveling abroad.
- Look for the nearest ATM. Did you know that you’ll often get a better deal changing money in a foreign country via their ATMs versus going to an exchange counter? When using a foreign ATM, verify that the card symbols match the symbols on the back of your ATM/check card. If not, you will not be able to withdraw money from the ATM. If you’re staying at a hotel, call ahead to ask where you might be able to find an ATM once you arrive. This will save you time as well as the hassle of venturing out to search for one on your own.
- Balance your cash with your credit cards. When traveling to a foreign country, it is always a good idea to have a tidy sum of cash on you just in case a restaurant or venue doesn’t accept credit cards. Prior to dining at restaurants, verify with the hostess as to whether or not your particular credit card is accepted there.
- Wining and dining. When dining at restaurants in foreign countries, pay attention to the bill when you receive it. In some cases (such as in Canada), the gratuity is automatically added into your final bill. In most countries, if the gratuity is not listed, it is customary to leave between 10 to 20 percent of the bill as the tip (same as in the United States).
- Carry your passport and ID with you. When you are traveling, be sure to have a valid passport as well as an additional form of photo identification (i.e. Driver’s license) with you at all times. If you’re ever in financial trouble or otherwise, you may need these!
About the Author: Janelle is an avid travel enthusiast and blog manager for one of the leading auto movers in the United States, National Transport, LLC. For more information about receiving a free car shipping quote, you can contact National Transport, LLC at 1.800.665.5022.
The UN has declared a famine in Somalia following the East African Drought – the worst the region has seen for decades. In addition to the drought which has devastated the land, the problem is only compounded by neglect, war and increasing prices of staple foods and other items. “Somalia is facing its worst food security crisis in the last 20 years, this desperate situation requires urgent action to save lives.” said Mark Bowden, the official in charge of the UN’s humanitarian aid in Somalia.
“Prices of staple foods have increased 270 percent over the last year.”
Officially defined, famine is when 2 adults or 4 children per ten thousand dies of hunger a day, as well as a third of children malnourished. Sadly currently in Somalia, 6 people a day are dying from hunger, and over 50% of children are malnourished.
Since the collapse of the last government in 1990, the majority of Somalia has been locked in a civil war – currently Islamist rebels currently hold most of southern Somalia, and up until the beginning of July – banned all aid agencies from working there.
The Regional Director of Oxfam, Fran Equiza released a statement saying that countries need to dedicate more money to the cause, calling it “morally indefensible” the small amount that has been pledged by countrys. Britain alone has pledged $156 million in the past 2 weeks – totalling almost 15% of what is needed in total, the European Union pledged around $8 million, countries like France, Denmark and Italy have not pledged any more money.
“There is no time to waste if we are to avoid massive loss of life, we must not stand by and watch this tragedy unfold before our eyes. The wrold has been slow to recognise the severity of the crisis, but there is no longer any excuse for inaction.”
