Finance

Budgeting

There are hundreds and thousands or different ways, tools, methods of budgeting and, like diets; none of them are any fun at all. But you'd better get used to it - even your parents budget, and whatever walk of life you're in, you're always going to be too poor to afford some things.

You can use some good software that'll help you budget - Microsoft and other big software houses have some good stuff, or you can use your bank's on-line banking facility to do that for you (although this depends on whom you're banking with). If all else fails, you can use a spreadsheet program and customise it for yourself, or, if like me you think a spreadsheet is something you just trodden on, you can use the tried and trusted paper and pencil approach.

The key is, that you're going to have to start budgeting and the sooner you do the better. So, just for you, we have the UniserveUK simple guide to managing your finances.

Firstly - Calculate exactly the amount of money you're going to receive for the year and the avenues from which you're going to get that money (overdraft, loan, grant, parents, job). Total it up and you have the number you are not allowed to exceed for the year.

Further down the page, put down how much your rent for the year is. Then write down your typical bills, phone, gas, water, electricity, council tax, mobile phone, gym membership; anything that you regularly spend money on every month (always add a bit on here for emergencies).

Jot down typical costs of books, stationery and any other academic stuff you may need, plus daily travel costs, childcare (if needed), petrol, insurance etc.

Add those figures up and take that away from the first figure, and you have the amount of money that you have available to spend on important things like beer, smokes and take-outs. Divide it weekly or monthly, or even daily and stick to it. It sounds daft and simple and it is, but just bear in mind what would happen if you overspent on beer, and didn't have enough cash left to have hot water. You may have to switch from Stella to Stryke Lager, and then where would you be?

If you're really short of cash - get a temporary job. In fact, if you want to work part-time in the journalism business, have a look at our jobs@uniserveuk.com section, if you've got the skills, we want to hear from you. But no money in advance!