Watching the kids go off to University is a difficult time for any parent, no matter how close you might be to them emotionally and in terms of the location. You get so used to having them around the house all day every day that it feels like you’ve lost a limb when they’re away for any length of time – now they’re away for weeks, maybe months on end and it can be very difficult.
But for every bit as difficult as it is for you to let them go, it’s just as difficult for them moving away for the first time. They have to get used to living in what might be a new city in a part of the country they’ve never been to before, and all of that with a bunch of complete strangers – and this is all before they sit down for their first lecture!
While you can help them to sort out their student loan application before they go, you can’t keep a close eye on what they’re spending – not as close as you could when they were at home anyway. While it’s very easy to take out bank or payday loans to ensure that they have enough money to last between payments, pay all of their bills and still have enough for food shopping and having fun as well as all of their course materials; providing financial support in a verbal sense is more beneficial than lending them money – which only puts your own finances into difficulty.
Here are five key tips that all University students should know before going, enabling them to survive without coming begging to the bank of mom and dad!
Monthly budgets. If you sit down at the start of each month and analyze what payments are needed to be made and how much is coming in, (if anything), they can establish just how much they can spend on food each week and how much they can spend on essentials such as course materials before they blow it all in the student union bar!
Own-brand foods. Contrary to popular belief, some own-brand foods taste exactly the same as the big name brands and if you can get this message through to your son or daughter, they can save substantial amounts each time they do a food shop of their own – something they might not have done before. For example, a branded tin of baked beans might cost 70p, but the own brand version might be just 20p and this doesn’t necessarily mean that there is a significant different in taste.
Return materials on time. Borrowing books from the library and not returning them on time can result in fines being handed out. However, these aren’t flat fees, they actually increase on a daily basis so if your son or daughter is borrowing anything from the University, make sure they are aware of this and if they need to extend the loan, that they do so well in advance or even buy their own copies.
Wash in bulk. A lot of on-campus accommodation might not have their own washing machines and as such they need to take their bags of washing to the on-site launderette. This obviously costs each time so encouraging them to wash all of their items when it is really essential, it large loads, can be much more cost-effective than doing it as and when they need individual items washing.
Online discounts. If they do need to buy anything, introduce them to the wondrous world of online shopping where there are tons of discounts and offers available. With anything from percentages off the final price to free delivery, even buy-one-get-one-free deals, there are sizeable savings to be made and they can keep more money in the bank.
After all, University is supposed to be an opportunity for them to start their careers, getting the qualifications they need to get into their first proper jobs in a profession they want; not a case of struggling to make ends meet and subsidizing their studies by finding part-time work which – in many cases – can compromise the time they have to spend on coursework.
By all means set them free into the wide world of University life, but give them the best advice you can to take with them and you won’t have to worry, (too much!)
