Beyond the Books: Simple tips for better budgeting
•Télécharger en tant que PPTX, PDF•
1 j'aime•349 vues
Discover the surprisingly easy ways to make small, but significant changes to your budget. From how to identify spending leaks, to what discounts, grants and financial services you may be eligible for as a USQ student, this session will equip you with the financial tools and strategies to help you make the most of your student budget. This webinar is presented by USQ staff members Clare Moseley and Robyn Idewa Gede who provide welfare and financial guidance to USQ students on a daily basis. For more advice and resources to help with budgeting be sure to check out the following free resources. https://social.usq.edu.au/tags/budget To see more from the Beyond the Books Online Series, visit our website. https://www.usq.edu.au/webinars
Recommandé
Contenu connexe
Similaire à Beyond the Books: Simple tips for better budgeting
Similaire à Beyond the Books: Simple tips for better budgeting (20)
Plus de University of Southern Queensland
Plus de University of Southern Queensland (20)
Dernier
Dernier (20)
Beyond the Books: Simple tips for better budgeting
- 4. Presented by Robyn Idewa Gede and Clare Moseley Student Wellness Advisors Simple tips for better budgeting
- 5. Overview • Needs v wants • Spending leaks • Spending diary and budgeting • Setting goals • Money saving hints and tips • USQ loans • USQ Scholarships • Useful resources • Contact details
- 6. POLL What are challenges that you face as a student? Tick any that apply: • Fitting in • Getting a job after graduation • Being time poor • Grades • Juggling study/work/family • Affording uni • Affording daily expenses
- 7. Needs v Wants Which is a need and which is a want? NEEDS WANTS Internet Rent Coffee Electricity Gym Food Takeaways Soft drinks http://www.moneyminded.com.au/spend-wisely/
- 8. Spending leaks What is a spending leak? Item Cost per item Cost for a week Cost for 4 weeks (A) Another approach Cost for a week Cost for 4 weeks (B) Approx 4 week savings (subtract B from A) Daily can of drink from vending machine $2 $10 for 5 cans $40 Buy from the supermarket 24 cans @ $15 About $3 for 5 cans About $12 $40-$12=$28 (Around $336 per year) Daily café coffee $4 $20 $80 Make instant coffee @ $0.50 $2.50 $10 $80-$10=$70 (Around $840 per year)
- 9. Spending Diary • Do it over your pay period • https://www.moneysmart.gov.au/tools-and- resources/calculators-and-apps/mobile-apps/trackmyspend • Or notepad
- 10. Budgeting Budget planner • Compare your money coming in and going out • Use online tools – budget planner (https://www.moneysmart.gov.au/tools-and- resources/calculators-and-apps/budget-planner)
- 11. Budget things to remember • Identify irregular and long-term expenses • Define how much you have for “extras” • Be careful not to be too tight with your budget • Budget at least $20 per fortnight for emergencies • Separate bill account • Re-do your budget • Part-time job? • Need help with your budget speak to one of the Student Wellness Advisors Hear a student’s tips
- 12. SMART Goals • Setting short-term & long-term goals will give you purpose and motivation to create a budget and saving plan, and sticking to it S – SPECIFIC (know exactly what the goal is) M – MEASURABLE (able to measure progress towards final goal) A – ACHIEVABLE (goal takes account of your situation at the time) R – REALISTIC (reflects skills/resources to help you achieve goal) T – TIMED (set a definite time frame so the goal can be tracked)
- 13. SMART Goal example Vague Goal: I want to go to a PINK concert SMART Goal: S – I want to go to the next PINK concert in Brisbane in 9 months time, tickets on sale in 6 months M – I will need $250 for tickets, plus $50 for transport/merchandise = $300 • 6 months (13 fortnights) = put away $19.23 per fortnight ($250 for tickets) • Following 3 months (approx. 6 fortnights) = $8.33 per fortnight ($50 spend) A – 6 months is achievable to save this amount of money, 3 months even easier to save spending money R – I have a part-time job so I have the resources I need T – I will need $250 within 6 months, $50 within 9 months
- 14. Shopping tips • Know where to shop • Be smart about what you buy • Buy in bulk • Shop less regularly – once a week? • Consider generic brand products • Reduce takeaway and pre-prepared food • Buy fresh food close to closing time • Shop around and ask about students discounts
- 15. Tips for saving money • Books – second hand or borrow from the library (https://studentvip.com.au/; https://www.usq.edu.au/library/borrowing- requesting-resources/borrow) • E-books (https://open.umn.edu/opentextbooks/) • Reciprocal borrowing at other unis • Facebook/gumtree – uniforms/equipment • Pay bills on time • Bring own food/bottle/thermos to uni • Public transport concessions (https://translink.com.au/tickets-and- fares/concessions/tertiary) • Cheap activities • Take library books back on time to avoid late fees • Keep records
- 16. Staying on top of your bills • Open a ‘bill account’ • Direct debit • Get bills sent frequently (e.g. monthly) • Look into pay as you go schemes to pay telephone bills • Be very careful with credit, AfterPay and ZipPay
- 17. ZipPay and Afterpay What is it? • A line of credit for making purchases in-store • You take home your goods straight away • Pay in instalments interest free if making the regular payments on time • Can apply in-store with instant approval • Fees start getting charged with late payments
- 18. POLL Which tip would you use in your life? A. Shopping with a list B. Never shop on an empty stomach C. Bring your own drinks to uni D. Have a separate account for bills
- 19. Scholarships Various scholarships available They will open around June 2018 usq.edu.au/scholarships
- 21. USQ Loans Educational Support Loan • Textbooks • Essential course material • First year/first semester AUD$500 over 4 months • Ongoing students eligible up to AUD$1000 over 12 months
- 22. USQ loans continued Emergency expenses loan • Available for daily living expenses such as food and medicine • Up to AUD $300 for a max of 4 months https://www.usq.edu.au/current-students/support/welfare/financial-support/student-financial-loans
- 23. POLL If I needed to buy textbooks but no cash, I would… A. Panic! B. Speak to a Student Wellness Advisor C. Use a credit card D. Check if available as an eBook E. Look for second hand copies
- 24. Useful contacts and things to remember http://www.moneyminded.com.au/ (activities, videos, tips) https://www.moneysmart.gov.au/ (calculators – savings/budget etc., apps) Financial counselling: http://www.ndh.org.au/ 1800 007 007 USQ Student Wellness Advisors (for no interest loans, budgeting, scholarship information): 07 4631 2372 or book online https://accesshub.usq.edu.au/
- 25. Student Wellness Advisors Find out more: Email: USQWellness@usq.edu.au Book an appointment online: https//accesshub.usq.edu.au/ Website: https://www.usq.edu.au/current-students/support Phone: 07 4631 2372
Notes de l'éditeur
- Clare Hi and welcome to our simple tips for better budgeting webinar. My name is Clare Moseley and this is Robyn Idewa Gede and we are Student Wellness Advisors here at USQ.
- Clare – this is an overview of what we will be covering today (read through)
- Robyn Response options are based on previous video.
- Clare A great place to start is with a spending diary in order to track your day to day spending. It’s easy to spend a few dollars here and there which can add up quickly over a short period of time. And be part of those spending leaks just mentioned. Firstly decide for how long you wish to do the diary for, usually stick to your pay period – so if you get paid fortnightly for instance do it for the 2 weeks. But remember to do it every day! Some useful tools that can help are using the track my spend app or writing it down in a small notepad This is the app. This website is great by the way for budgeting advice/tips so if you get a chance have a look at it. It’s a government website so independent and reliable. This app also lets you nominate a spending limit (per week, fortnight, month or year) and track your progress Separate 'needs' and 'wants' to identify opportunities to save. Other tips would be keep all your receipts in order to help track your spending At the end of the tracking period add up everything you have spent so you have an idea of your day to day expenses
- Clare In order to compare money coming in to money going out. Use a budget planner – online (link to budget planner) write down – all your money coming in – centrelink allowances, job income, scholarships etc Check your bank statements, pay slips etc all your money going out - from your spending diary Then look at where your money goes month to month Remember basics like food, groceries, transport Bills like rent, electricity, phone, insurance, loans Other things like clothing, car registration, medical costs, internet Check receipts and bank statements So doing up a budget you can take control of your spending. It shows if you are spending more or less than you can afford. Depending on the outcome you can then take action and find the right balance.
- Clare Make sure you identify irregular and long-term expenses - textbooks, equipment for study, clothing, gifts etc Define how much you have for “extras” such as eating out, entertainment etc Try not to be too tight with your budget, Allow some money for recreation and special treats it will be easier to stick to if you do. Budget at least $20 per fortnight for emergencies Your weekly expenses will often be more than you thought, as your budget includes irregular and long-term expenses – therefore you will have to save each week to cover these expenses when they arise! Open a separate bank account and put money in each week/fortnight so that when bills come you have the money to pay for them. Consider open a high interest earning account to take advantage of interest/savings You may need to re-do your budget several times in the first few months to come up with something manageable and achievable Part-time job? If things are really tight financially you could consider increasing your income by finding a part time job. The careers team can help with job searches/resume checks etc.. Student Wellness Advisors can help with setting up a budget Play video
- Robyn Why have goals?
- Robyn Elicit what a vague goal might look first.
- Clare Tips - Ask about any shopping tips they may have? Look at chat Know where to shop Markets, cheaper stores - Aldi, fruit barns, clothing - second hand, ebay/online shopping/gumtree/garage sales/facebook groups/baby bazaars Be smart about what you buy Know what you want to buy before you go shopping. Make a meal plan and a list. Don’t go food shopping hungry Buy in bulk in particular meat is good to buy in bulk from a local butcher. They often have family packs which you can split with others and freeze until you are ready to use it - Shopping less frequently, the less you shop the less you spend - Buy generic brands or what I call home brands they are cheaper. These are usually placed on high or low spots on the supermarket shelves - Reduce takeaways and pre-prepared food Go food shopping at the end of the day to get reduced items – particularly bread, refrigerated items e.g. cooked meats, yoghurts, cheeses, juice etc. Woolworths has a section in the refrigerated area which is labelled quick sale. - Shop around and ask about student discounts
- Clare Here are some tips for saving money Pay bills on time Otherwise you’ll get charged late fees and if you are having difficulty speak to the provider a.s.a.p. Bring your own food/water bottle to Uni There are Microwaves on campus in the common room here at Morrison Hall and lots of water fountains around the campus Public Transport Concessions Check with Translink www.translink.com.au/ can save up to 50% on Translink public transport. Must show current approved photo ID and show it as proof of concession eligibility Cheap activities Picnics, join a clubs and societies - Phoenix Central have all the details Take library books back on time to avoid late fees Keep records Bank statements, receipts for goods return, warranty documents so if anything goes wrong with your purchases you can return for repair or for a refund. Photocopy receipts so they don’t fade
- Clare Staying on top of your bills As mentioned before consider Opening a “bill account” And set up your bills as Direct debit payments - this will ensure bills are paid on time (but ask about bank fees as some banks charge a monthly or annual fee for their bank accounts) Get bills sent frequently for example monthly rather than quarterly or annually to help with smoothing out your big bills Look into “pay as you go” schemes to pay telephone bills Be careful with mobile phone costs Consider pre-paid tariff so you cannot go over your prepaid amount without realising it Investigate telephone companies and look for good deals Reduce the amount of calls you make Be especially careful with dialing internationally and internet usage Be very careful with credit think about paying with cash when you can afford it Hardship dept – payment plans etc….
- Robyn Click on image for video (scroll down on page to find video) – start from 2:19 and go to 3:15.
- Clare
- Robyn At USQ there are a range of scholarships available that can be used to cover a various costs relating to your study, including... Rounds open at various times throughout the year. The next round will be opening around June so keep your eyes peeled and visit website for more information. Some pointers to remember when it comes to the scholarships Make sure that you complete the correct application form as they are usually different If required ensure that you include a personal statement and cover/ address each dot pot or selection criteria individually If there is a paperclip on the form it means that something needs to be attached Lastly ensure you include all of the supporting documentation that they require e.g. Centrelink statements etc. there should be a type of checklist available so ensure that everything required is included. Ask to speak to a Wellness advisor if you would like your application checked before submission
- Robyn Just quickly lets bust some myths You certainly do not have to be an OP1 student. Scholarships vary in amounts but many are worth over $1,000. It may take an hour or so to complete an application nd gather up your documents. But I would happily work an hour for $1000! On last point: Many people apply for scholarships, but many are given out too. For instance 600 Equity Scholarships and Endowment Bursaries were given out in Semester 1 this year. The next round will open in June and be due Friday 13 July.
- Clare For those of you in need of funds to purchase your textbooks, uniforms and equipment then we offer interest free loans to students. Read through
- Clare Also for an emergency we can offer up to $300 interest free repayable over 3 months. Here is the link with all the details. If you need to apply complete the loan application form (off the website) and make an appointment to speak to a Student wellness advisor.
- Clare
- Clare If you do get into financial difficulties then don’t wait do something about it asap. Come and see us. There are external charitable organizations that can also help and give financial counselling.
- Robyn