Customer economy saving tips for students

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Packed lunch with butter sandwiches, loan books and use the bike are some advice from consumer economist Magne Gundersen to Norwegian students. He also advises to dedicate some time to set up a budget for getting a better view.

As a result of a survey most students responded that they cannot afford their living costs and they struggle more than others.

Many students experience to be broke before wages or student loan coming into the account but many could perhaps save themselves by being a little more conscious of their spending.
A consumer survey shows that 14 percent of students answered that they waste most of the time or all the time. In general, 6 percent of them responded the same. The survey was done by Respons Analyse in July this year.

– Wasting money when you have demanding economy is the last thing you should do. The less you have to spend, the more important each heeded crown, said  consumer economist Magne Gundersen in Sparebank 1.

Food, nightlife and clothing

It is primarily the costs of food and beverages that are unnecessary high. But nightlife, clothes and shoes are things students say they spend too much money on.

According to the survey experiencing 18 percent of the students that it your account will be empty before payday or next student loan. In the general population the proportion of 14 percent answered the same.
With planning, good habits and more conscious use of money we can avoid ending up in the impasse encountered situations, said consumer economist.

– It does not take long to set up a small budget. With an overview of revenues and expenditures is much easier to survive from month to month, said by Gundersen, who is also known for giving advice on personal finance program “Luxury Trap”.

– Do not work too much

Consumer Economist advises students to share the costs, often in communities. Then you can share a part of the regular bills and perhaps splice on major purchases such as washing machine or furniture.

A small part-time job is worth gold for a cramped student finances.
– Part-time work is the best way a student can get the economy in balance and avoid being broke but do not work so much that it goes beyond the studies, said  Gundersen.


Source: NTB scanpix / Norway Today