Budgeting and managing your finances
Deciding to do a postgraduate degree is a big decision that will impact on you, your friends and family, not to mention your finances. But ultimately it’s one that will change you and your career prospects for the better by giving you the knowledge, skills and confidence to beat the economic downturn, win a promotion, change direction and ultimately secure a brighter, more prosperous future.
You might be thinking what with rising living costs, threats of redundancies and looming budget cuts, that there couldn’t be a worse time to start a postgraduate programme. But you’d be wrong. Now is exactly the right time to invest in your future, your skills, your competitive edge. By completing a postgraduate programme at LJMU you will be arming yourself with the knowledge and experience required for professional success.
Living on a budget
- Work out your potential income along with details of any current savings you may have and draw up budget plan.
- Remember that competition is tough for awards, scholarships and grants from charities, trusts and research councils. Be realistic about what you can manage on your own budget.
- Be organised and manage your finances by using a spreadsheet for incomings and outgoings.
- Look at your current spending, are there areas you could cut down upon or swap for a cheaper alternative to make your money stretch a bit further?
- Also be prepared for expected bills – Christmas, graduation, birthdays etc..they will crop up
- Consider the possibility of working to top up your finances but remember to manage your time accordingly.
If you are worried about how you’ll make ends meet as a student, don’t be afraid to talk to LJMU about it. The University has a dedicated team of staff that can offer you confidential advice on how to manage your finances and ensure you maximise your income while you are a postgraduate student.
To find out more, email firstname.lastname@example.org or ask for advice at the Student Zone in your nearest Learning Resource Centre. Alternatively, call 0151 904 6056/6057.