How A Student Can Cope During The Cost Of Living Crisis

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How To Protect Your Family OnlineThe cost of living crisis has many people across the United Kingdom suffering. The rising costs of fuel, electricity, gas and food leave people with less money to spend on other things they enjoy. However, it is something that is happening all around the world.

In this article, we will give you tips on how to manage your expenses and ensure you don’t get into any financial trouble.

Contact The University

If you struggle with your money each term after you receive your student loan, we advise you to contact your university. Each university has money set aside to help students who are struggling financially, also known as hardship funding. Contact the money advisors at the university and they will help you with any financial troubles you may have.

Ask For A Pay-Rise

One of the main problems why so many people are struggling with the cost of living crisis is because their wages are not increasing. For students, this is even harder, as their job is only part-time and will only be temporary. If you are lucky enough to have a part-time job whilst at University, it may be worth speaking to your boss. If a pay rise is not possible, ask for extra shifts to earn a little extra money.

Another thing to ensure is that you are getting paid the minimum wage or more. Many companies see you as a student and will pay you with cash in hand and therefore, will pay less than the hourly rate. Cash in hand is excellent as a student but, if you are paid less than minimum wage, it is a whole different story.

Scholarships, Grants and Bursaries

Contacting student finance is something you should do as well as they may give you money for certain things. One of those could be because you’re good at a particular sport. Another reason could be that you are a child of a single parent. You might be able to get a grant for being a vegetarian as well so contact student finance to see what you can receive.

Try Other Ways Of Earning Money

Something else you can do during your free time is do paid online surveys to earn a little more money as they can pay for your weekly shop.  Starting a blog can be another good earner for freelance content writing, even getting paid to watch videos.

For those business-minded students, investing in stocks or cryptocurrency could be a short-term money earner; however, you have to put money into it to return the money. It could also lead to losing money due to cryptocurrency scams or misjudging the stock.

If you are investing your money in stocks, crypto or NFTs then you have to be aware of stock fraud and NFT scams. Digital scams are more common with NFTs and crypto as they are unregulated so be careful with what you are investing in before you start splashing all of your student loans.