When you are a student, you only get to enjoy your student lifestyle by ensuring that manage all finances responsibly For starters, you need to make sure all the money is accounted for. Do not spend all the money from your student loan during the first week. There are many expenses to worry about and they include rent, groceries, household bills and the money you spend when out socializing with your friends.
Proper planning will give you an edge over your counterparts. You can choose to stick to and planning around your monthly and weekly allowances instead of becoming dependent student overdrafts to act as financial cushion during the times when you get broke. This allows you to save your student loan money for future use. It helps to be more responsible with your money.
One of the best ways for people to save money is by using prepaid cards. Most people fall into debt or start experiencing financial problems the moment they start spending money that they do not have. The prepaid card is one of the most popular products in the UK market at present. It is especially growing fast among students because of the fact that it allows them to load funds directly into their accounts so that they are able to spend money that is available to them. It is easier for them to plan their spending around money that exists in their accounts rather than spend money they do not have. This allows them to save money from their student loan.
Having a prepaid card allows the students to properly budget for the money that they use daily. This allows them to be organized in their spending since they are able to track how they spend their money thus come up with effective ways of lowering their spending when the need arises. Whether it is money for going out, paying bills or even purchasing groceries, they can effectively trace how much they spend and thus come up with a consistent budget which works for them.
The ease of access to funds might concern you but it works in the same way that credit and debit cards work. It is totally safe since one needs pins and chips to access the funds from ATM machines and street tills.
Pockit prepaid MasterCard® is a company in the UK which deals with selling prepaid cards. This ensures that their customers have a convenient way of storing their money and this will help them use their money to work better for them.
The students also have the option of saving their money weekly or monthly when they make use of pay monthly Pockit MasterCard®.
Some of the perks that come along with being a holder of these prepaid cards is getting electricity and gas at discounted rates by using First Utility, getting broadband and telephone deals courtesy of TalkTalk, car insurance through Aviva among other many discounts offered by Pockit to their cardholders.
Students who like going for shopping can also save some money by using Pockit MasterCard® retail cashback option. There are deals which allow up to 10% cashback and this will allow them to get more from their money thus allowing them to save their student loans.