Money concerns are a major problem for most students these days, therefore developing budgeting skills is a very well worthwhile task.

A budget is an easy way to see how much you spend and on what. Working out your budget doesn't have to be a difficult task. It's simply a matter of discovering where your money is going each month and how much you should have left over at the end. All you have to do is add up all your income and subtract your bills and other outgoings. If you have more money going out than coming in, then you will find yourself in debt!

Your budget will give you a quick insight into your finances. If you feel that you need to spend less, or you need to spend differently, here are a few money saving tips:

•Keep a diary of what you spend and you'll quickly see what is essential and what you can do without. Visit Mabs.ie to download free budget planners.

•Use online banking to keep an eye on your finances.

• Shop around for bargains; you never know where you'll find a better price.

• Use your student card for discounts in the cinema, shops, restaurants, and for bus and train fares.

• Do a weekly shop and buy supermarket own brands. They are often the same quality at much cheaper price!

WARNING! - Stocking up in the local corner shop everyday can be a third more expensive for the same products!

• Check to make sure you are receiving all of the financial help you are due i.e. maintenance grant.

• Save on transport costs by cycling or walking to college or by taking turns driving with friends.

• Some banks offer interest free overdrafts but you will need a parent to sign as guarantor.

• Bring a packed lunch! All those coffees, sandwiches and muffins can really add up!

• Look out for special offers- certain nights are cheaper for same service provided e.g. two for one deals in the cinemas.

•Don’t use credit cards when you are low on money. Don’t be fooled by gimmicks and freebies, read the small print and don’t put your name down for anything especially not for lollipops! Only use credit cards for real necessities.

• If you decide to sign up for broadband/chorus/sky for a year contract, keep in mind you will only be renting for nine months and will still have to pay during the summer even if you’re not availing of the service anymore. Be really careful what you sign up for, as it’s extremely hard to get out of a contract once you put your name to it!

If you find that you are struggling to cope financially throughout the year, call up to me in the Welfare Office and we can go through your options.