MONEY MATTERS

Uni is where you will probably become financially independent for the very first time. Take

At uni, you’ll be the one making decisions about when, where and how your income is spent – and you’ll also be the one to deal with the consequences if you splash it all on takeaways. In order to manage your money effectively, you need to know what’s coming into your account on a regular basis.

Work out your income

Depending on your circumstances, your regular income may be one or a combination of the following:

■ Student loan instalments

■ Academic bursaries, funding or support

■ Part-time job wages

■ Regular money from parents or family members

Next, grab a pen and a piece of paper. Write each month across the top and your different income streams down the left-hand margin. Jot down what you’ll receive each month. Notice that your income might be larger around September and January when you receive your student loan, but you might receive nothing, in December and June. Just remember that you’ll need to spread your income out evenly across the entire year.