University is one of the most interesting and rewarding chapters in a person’s life. It’s a time to figure out who you are and who you want to be, both personally and academically. During this period, students usually develop their artistic and political taste and have and active social lives.

Unfortunately, this is also one of the most financially difficult times in a person’s life. The university itself is pretty expensive and students usually don’t have time to pursue the job along with the studies. That’s why it’s necessary to cut corners and be resourceful.

Know what to expect

Before you can embark on this complicated journey, you should take the time to evaluate both your goals and your abilities. Assess your financial situation honestly and make a budget that you’re going to stick to religiously. Have in mind, that there are going to be some expenses that you can’t avoid (like rent or tuition) and others that you can control by being responsible.

Also, talk to some older students beforehand so you can have an idea about the workload and the amount of free time you can expect to have and make plans accordingly.

Jobs

If you know how to organize your time, you should be able to find a part-time job while still in college. It’s best if the job is something with flexible hours and coworkers willing to cover for you because you’ll need to take some time off and make studying a priority during the exams.

You can also try working from home. Tutoring, writing or being a virtual assistant are all valuable options, which could earn you some extra cash and leave you with enough free time to both study and have a life.

Finding a place to live

Rent is probably one of the biggest expenses for students and one that you can’t really ignore. When looking for accommodation look into “one fee” options like the one provided by Iglu. That way, your monthly fee covers rent and utilities, as well as the use of common facilities.

Safety is one of the most important concerns, make sure the apartment is under electronic surveillance and that it features security systems that include on the premise security and electronic swipe card system. That way you know that both your place and common rooms are covered at all times.

Credit cards

Most people start using credit cards during college and this isn’t always a bad idea because it’s the only way to build credit score early on. It’s important to use them responsibly and to always have in mind that payments are going to catch up with you at some point.

Never spend more than you can actually afford in a month. Pay the bills on time because late payment fees could really add up and affect your credit score. Shop around for cards before you decide on one – there are always additional fees, so make sure you’re ready for it before taking the plunge.

Having fun

All of these money troubles and obligations make it seem like there’s no time left for social life and fun. But, by knowing where to look and what corners to cut you could easily have both. Local bands have free shows at Moonshine at Manly’s Hotel Steyne on Thursday, Friday, Saturday or Sunday. The Royal offers the cheapest beer in town, with only 10$ a jug, while Mug and Kettle has free standup comedy nights. This makes for a great night out without breaking the bank in the process.

The first year of college can be a bit rough because of all the changes and new obligations. But, if you can play your cards right it might be one of the most rewarding years of your life.