Something we understand Medical students are experiencing more of is financial hardship. As with all students, money is hard and when your income is fixed this can add further pressure. Often an easy way to relieve pressure is to take up part time work. For medics this can be hard as University timetables are very intensive, can be different each week and your work load can be difficult to juggle. One way to help make your money go further is to plan.
The Money4MedStudents' budget planner is easy to use and looks at all your income , for example your bursary, scholarship or loan. Then goes through your expenditures, prompting you for things you may have not seen as a regular outgoing, for example those snacks whilst studying. It’s flexible enough for you to select the regularity of the payment, so you only have to enter the figure you know. If you know your loan payment annually and the cost of your daily coffee, it will calculate this into a regular budget for you.
The bonuses of budgeting are well documented- it helps you know how much you have to spend, can help highlight any areas you need to save and can help reduce stress about money on an ongoing basis. This budget planner may take a while to complete but will help you get a plan with your money that will help keep your mind on your studies and off worrying how to fund them.
Don’t forget if you have any questions, you can always use the online money advice form and we'll get back to you in two working days with tailored advice.