Research your costs and save
They say one of the best ways to improve your future financial prospects is to get yourself a top class education. But like most things in life, it comes with a hefty price tag.
With some careful research, budgeting and a realistic savings plan, you can score top marks for keeping your costs under control, while you sail through those semesters with one less thing to worry about.
Education costs in Ireland
As an undergraduate attending a publicly funded third level course in the Republic of Ireland, you’ll most likely not have to pay fees. However, there are specific criteria that must be met. So do your research.
As a post-grad, you will have to pay for your post grad course, but there may be savings to be made from the Student Grant Scheme and exemptions and tax reliefs around certain costs.
All the information you need to know on study costs can be found on the Citizens Information website ‘Third-level student fees and charges’. Click here to find out more.
Saving takes discipline!
We know that getting into the savings habit is hard, but here are a few top tips to get you off to a solid start.
- Know it. Save it: With your research on costs done, you now know what your financial outlay will be and can start to put a plan in place to make sure you’re on top of things from the get go.
- Timing is everything: As soon as you know further education is the route you’re going to take, knuckle down and get serious about saving. Open a GoalSaver Account. The sooner you do the more you’ll save.
- Dissect your monthly income: Examine in detail your monthly income and outgoings. Pin point exactly where your money is going, cut out the unnecessary spends and then put a realistic figure on how much you can afford to save monthly. Our online calculator will help you with this.
- Be ruthless but realistic: If as an undergraduate you don’t have a part time job, then set a savings goal you know is more achievable – like saving for your yearly travel costs or a new tablet. Same applies if you’re a post-graduate. There’s no joy in stretching yourself so be realistic in terms of your savings goal.
- Take out a loan: Take the pressure off and fund some of your college expenses with a loan while continuing to save for everyday student expenses. Check out our Student and Graduate Loan options here.
Student savings hacks
- Student discounts: One of the greatest things about being a student is the discounts you get. Be it in high street stores, supermarkets and cafes and restaurants. Use them as much as you can, while you can.
- Free events: Save on nights out by attending free gigs and events.
- On your bike: If you’re lucky enough to live reasonably close to campus, get a bike and save yourself a fortune in transport costs and get fit while you’re at it.
- Share the cost of books: If you can, share your book costs with a college mate, someone you’ll most likely share study time with so you’ll always have access to the required literature.