Before I became a student and I got regular monthly salary which was decent for the fact that I’m young and starting my working career. But 1.9.2013 I became a student and I had to learn to cut my spending, because I’m not able to work as much as before. Now I have the income limit because I receive a study grant from Kela. “For each month during which you receive study grant or housing supplement, the exempt amount is on average €660, and for each aid-free month €1,970. Assuming that you received aid for 9 months, you would be allowed to have up to €11,850 a year in other income”. (http://www.kela.fi/web/en/financial-aid-for-students_how-other-income-affects-financial-aid)
When I was still working, my father told me “live and spend like you can afford”. Another wisdom from him was “always keep one – rather two months’ salary on your bank account just in case”. If you take a 9 month study grant, you are allowed to earn €11 850 a year which is not a lot (Of course you can make more money and raise less study grant). However here are a few money saving tips (which have helped me):
- Prepareyour own food, and buydiscount products:
Home-made food is cheaper than takeaways and seasonal food ingredients are cheaper to buy
- Soupsand casserole dishes provide you with have enough to eatfor a long timeand they can befrozen
CLOTHING AND CONSUMER GOODS
- Checkout: Flea Market and recycling centers
Today new and unused clothes and goods can be found usually including seasonal products at the flea markets
- Buythe discount, negotiateorbargainthe price
It is not forbidden to ask for a discount!
- Avoidimpulse purchases
Do you really think you need that?
- Benefit thesports services the school offers
Hobbies do not need to be expensive
- You do not need to spend a large amountof money on partyevening
Prepare a monthly budget. If you do not know what your money is spent on, examine your previous month’s bank statement. It reveals where you can save.
Do not under any circumstances take out a consumer credit loans with high repayment interest rates!