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As a postgraduate student, you’re probably thinking about the money that you DON’T have. Some of you have student loans and have no idea how you are going to pay them back. I’m not going to tell you to invest your money in stocks, bonds, and derivatives because to be honest… you’d probably lose it. So we will just skim the surface of personal finance.
Make a budget. Even if you don’t have an income, list your bills and go into your bank account and see how much you spend weekly for food, entertainment, and other expenses. You’ll be surprised at how much you spend on take-aways and coffee. (The Financial Support & Advice office can help you make a budget, e-mail them at email@example.com).
Have a goal
Saving to travel? Paying off debt? Want a new pair of shoes? Having a goal in mind will motivate you to budget. Plan and calculate how long it will take you to reach your goal and stick to it.
It’s easier said than done, but try doing these things: Cook from scratch and buy in bulk, enquire about student discounts, buy second hand (check out Vic Deals for everything you’ll ever need).
Your current situation is not your final destination. If you fall behind in your finances, or make a wrong decision, you can always get back on track!
Upcoming event: Postgraduate Interactive Forum
May 24 in LT4, Government buildings, Pipitea Campus.
Hear about exciting research at Victoria, network with fellow postgraduates, and enjoy free pizza! There will be presentations by Rebecca Siu (PhD Linguistics & Applied Language Studies), Kirsten Reid (Senior Learning Advisor at Student Learning), Adinda Muchtar (PhD Development Studies), and Raewyn Eden (PhD Education).