As your student takes the next step in their academic journey, they may need to develop new skills. Like budgeting and independent study skills. We’ve put together a few ideas on how your student can do this and how you can support them during this time.
Budgeting
Budgeting can be one of the most difficult skills to develop, but also one of the most important. Especially for a university student who may not have needed to budget before.
For many students, receiving their maintenance loan is the first time they’ve had access to a large amount of money, and it is incredibly easy to get swept up in the tide of student life and spend it all within their first month of university.
Maintenance loans are paid in three instalments, and it’s down to the student to budget and make sure this money covers everything. Such as accommodation, university resources, bills and more. Creating a budget plan can help students ensure that their money is going to the right places and help them identify if there are places where they can save a few extra pounds. Their budget plan should include all income and outgoings. A typical student’s income might include their maintenance loan, scholarship money, money from parents and supporters, savings or wages from part-time jobs.
It’s easy to forget the small outgoings, like gym memberships, haircuts and meals out that can quickly add up. It’s a good idea for your student to look through a typical month of transactions to identify where they’re currently spending their money. It’s important for them to consider all these things so they can make a realistic budget plan and feel financially comfortable throughout university.
Now is a good time for your student to consider how they can make their money go further. Here are a few ideas to get them started:
- Shop savvy. Many students imagine they’ll do their shopping in big supermarket chains, especially if they’re used to a certain brand at home. Encouraging students to shop at lower-cost supermarkets such as Aldi and Lidl will save them money while still buying good-quality products.
- Look into student bank accounts. Some banks offer great benefits for students, such as discounts and travel cards. Always read the small print.
- For any students who are commuting or travelling by train regularly, buying a 16-25 National Railcard will come in handy. This can save up to 1/3 on tickets.
Independent study skills
Another skill your student will want to develop during their time at university is the ability to study independently. This is a large part of most university courses and includes building other key skills, such as time management and revision.
Unfortunately, there is no magic trick that applies to all students when helping them develop their time management and revision skills, as every student is different. For some students, revision techniques such as mind maps, YouTube videos or revision cards might be the most beneficial methods for them.
For other students, time management methods such as lists or online calendars may work better. Even the time of day can affect the productivity of a student. Now is the perfect time for them to experiment and find out what works best for them.
It’s up to your student to develop these skills, but you can help them too. As a supporter, you can recognise whether the methods they’re using are working. If they’re not, you can encourage them to try something else.
Preparing for university
The jump from sixth form/college to university can often be a step that students find challenging, and the key to making this transition easier for them is to be prepared. Here at Edge Hill, we’ll ensure that your student receives all the information they need in the lead up to their start date. Including course preparation information, student finance application top tips, how to enrol and more.
Make sure to check whether your student’s University is offering any additional support over the summer. This is a great time to catch up on skills such as referencing or planning assignments. And it may help your student to feel more confident in their transition to university life.
Finally, check that your student is checking their emails regularly. Emails are easily missed but can contain important information, including timetables and course materials that your student won’t want to miss out on.
May 27, 2022
