Budgeting

Financial Information

Life at IT Carlow

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Budgeting

Managing Your Budget

The costs of student life vary depending on the individual's circumstances. It is vital to live within your means, whatever your situation. Getting into debt can lead to many problems and stresses. While money is often tight, we strongly advise students to try and get the balance right and avoid neglecting their studies for part-time work.

If balancing your weekly finances is a problem, call into Student Services for some advice and support.

The following examples show typical expenses for a student living away from home.

Home Stay:

Cost of Living (approx. per month/Academic Year)
5 day partial board (bed and breakfast, evening meal)	€360
Food in Institute	€140
Books/Stationary	€50
Entertainment/spending	€65
Travel	€50

Total per month	€665
Total for 8 months	€5,320

For Students Self Catering:

Cost of Living (approx. per month/Academic Year)
Rent (shared house/flat)	€280
Fuel/electricity/food	€300
Books/Stationary	€50
Entertainment/spending	€65
Travel	€45

Total per month	€740
Total for 8 months	€5,920

If you are paying or have paid TAX in the current tax year then you can claim relief against actual rent paid (you will need a receipt for this).

Careful budgeting is absolutely necessary particularly during the first weeks of term prior to grant payments.

Part-time work while at College

Whilst money is tight for many students, we advise students to be very careful about making too big a commitment to part-time work. Every year some students fail to get this balance right and then struggle to keep up with their studies. Late night work can make studying particularly difficult. It is difficult to recommend a maximum level of part-time work, as the demands of courses can vary as do the abilities of individuals. If you have doubts, talk to someone in a higher year on your course or come and have a chat with a member of the Student Services team.

Useful Link
The website www.itsyourmoney.ie/students has information on:
• making a budget
• choosing student accounts
• what to know about loans and overdrafts
• how to manage bills and some tips to reduce everyday costs