Hannah Strange, Florida Down Under marketing intern, suggests budgeting tips to fellow university students:

I know what you’re thinking, now that the holidays are over you have loads of free cash and are wondering what to do with it all. No?

Okay, well maybe you don’t have much money right now, but it is a new year, which is the perfect time for a financial revolution. My personal financial motto is this: Cover your bases and work as much as possible to ensure you have money for traveling (no surprises there).

Honestly though, I am a full-time graduate student with three jobs and an internship just to make sure I have enough cash coming in to support my ambitious travel schedule. Annually in the beginning of January, I take a good hard look at my financial aid statement, think about my jobs and what I want to do with my summer, and I FIND A WAY TO MAKE IT WORK.

So in the spirit of New Year’s revolutions, I offer you these tips:

1.     Whether you want to study abroad or simply travel this summer, start thinking about it now. I know that at the University of Florida, our scholarship deadline is at the beginning of February – way earlier than the application deadline for study abroad programs, and thus many students miss out on the scholarships. So if you’re looking for scholarships, do it now!

2.     Think about getting a job. I know a lot of people don’t like to handle the complications of having part-time work while in college, but honestly, it’s not that difficult. I have always had a job since freshman year and that extra money in your pocket can come in really useful. There are 168 hours in a week, you need 56 hours for sleep, 40 for school and that leaves you with 72 for other activities that can include a job! I know you hear about the unemployment rate and that there are no jobs out there. But in a college town there is ALWAYS something available whether in retail, restaurants or otherwise. Just be prepared to work hard and you will see the benefits.

3.     Make a budget and stick to it. This sounds so incredibly simple, but you would be surprised at the number of people who, as soon as their grants and loans come in, immediately run to the mall and blow $500 and then are complaining come spring break because nothing is left. Seriously, sit down, figure it out, and stick to your plan.

4.     Read this article from Forbes magazine. Forbes shares some wise insight on simple ways that you can plan your finances for the fun stuff and the big scary adult world.