My Friends and Money




University and college covers many social activities such as attending sport events, going to bars/clubs, themed parties and paying for student club memberships. The list can go on!

Every student has a different financial background. Usually lower income students may experience money conversations that are different to students from middle or upper class families.

If you are experiencing financial constraints, be open and honest with your friends.

It can be uncomfortable at first but you do not want to be in a situation where you are having to make excuses all the time . Some people simply say that they do not have the money whilst some give a specific time period in which they prefer to go out.

Remember not everyone knows about each other’s financial decision.

It is always tempting to say, “Yes” to a social activity that you can’t afford Having a short-, medium- and long-term financial goal will help you to stay focused.

Living with friends?

Be very cautious with who you live with as you do not want to enter a financial arrangement with a friend that does not know how to manage money.

You do not want to get a surprise especially when it comes to sharing the house bills and paying for rent.

Understand what everyone is able to afford as everyone has a a different standard of living.

You can set up a household budget and spit costs with your housemates. Limit the risks  of you being in debt by ensuring that the rental agreements between your housemate state that each person is responsible for their room. This will help avoid any late payment fees being charged to the group. Schedule time to talk about money within the house, it could done on a monthly or weekly basis.

Another tip, is to select a location for a social outing so that it fits in with everyone’s budget.

Your university and college experience should be a fun and positive one!

Have the right people around you and network. You can even host money talk sessions to encourage your peers to be open about money. You will be surprised abut what you can learn from someone else.





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