By now, most students’ funds are depleting, so it’s a good time to start budgeting and planning ahead. Our Advisors have gathered some useful information to get you on your way.
By now, most students’ funds are depleting, so it’s a good time to start budgeting and planning ahead.
Our Advisors have gathered some useful information to get you on your way. While we can’t give you financial advice at the SU Advice Centre, we can certainly point you in the right direction. Just get in touch before you graduate if you’re worried about your finances after uni.
The University’s Managing Your Money page is a good starting point. You can also make an appointment with the Financial Wellbeing team or ask them for guidance by emailing moneymatters@royalholloway.ac.uk.
Future Finances (Home and EU students only)
Once you stop being a student, you can get free advice about money matters from Which. They also have great educational pages so you can learn about adult money stuff, like taxes, mortgages and savings. Learning about your rights and obligations will not only save you money but also keep you out of trouble, e.g. you could owe council tax without being aware of it!
Turn2Us can advise you about financial help available after you graduate. You can use online benefit calculators now to see what government funds you’re eligible for after the last day of your course.
Shelter can advise you about any housing problems in your next home after graduating.
The Citizens Advice Bureau is great at helping you navigate the benefits system and is a free service available to all UK residents. They are really accessible on the phone, but you can also see them in person. Call first, to see if you need an appointment. They can also advise you about tenancy or debt problems.
Debt
If you ever find yourself in unmanageable debt or can see that you’re losing control of your finances, then please remember that this is the most common issue affecting UK residents today. Unfortunately, most people don’t seek expert help, but this is the best thing to do. There is a lot of free help and support out there, like the Money Advice Service and National Debtline. We understand that people often feel embarrassed about having financial problems, but you will not be judged. Debt advisors are very sensitive and aware that anyone can find themselves in debt pretty much overnight. There is a way out of every debt and they can help you plot your path.
We know that money can be scary and serious, but taking a little time to learn about adult money stuff and planning ahead can actually minimise a lot of the anxiety surrounding it. In fact, you might find you gain a new sense of confidence as you realise that you’re able to help people close to you with this new-found knowledge! Remember, everyone has money problems, but you now also have money solutions!