Settling in
Freshers are particularly susceptible to ‘loan arrival frenzy’ – when the first instalment of your loan hits your bank account, it’s tempting to delude yourself into thinking you’re rich. But that apparently huge lump sum has to last the entire term and it won’t take much budget planning to see that it’ll barely stretch across the bar, let alone across the term.
Budgeting starts from day one. If it doesn’t, then that first, reassuringly sizeable stash of cash will disappear like water down a plughole, leaving no more than a few hairs and some gunk behind.
In fact, it’s worse than that – even if you do budget, you’ll watch as your bank balance after the first week turns into a pale imitation of its former self by week two and after the first or second month the accumulated rent, bills, books, food, drink, taxi fares etc. will almost certainly have beaten it down to minus figures.
In any case, your budget for the first few weeks should be on the high side. For one thing, for several weeks you’ll be making one-off payments for stuff you need, like a kettle, washing powder and a second set of underwear.
You’ll also need to get the lie of the land. Where’s the best place to shop for food, stationery, books and so on, weighing up the pros and cons of distance, price and quality? Where’s the nearest laundrette? Where’s the best place for new clothes, because your first attempt at the laundrette turned everything pink?
These reconnaissance missions can in themselves become impromptu social events, either as collective outings or as debriefings from various scouting parties.
There are also likely to be some costly abortive attempts at new recipes, unnecessary travel expenses till you find out about the right bus pass and, until you realise why no one else ever goes there, visits to the more expensive kebab shop.
So long as you keep a firm eye on your finances, this is the one time when it’s not worth stressing too much about spending slightly over the odds.
Last updated on: 14 November 2008