Types of 'Broke' students
There are so many perks to being a student but one thing every student cannot avoid is the cash loss. University life is expensive! There’s rent, bills, books, food and other things to pay for. A common phrase used among students to get out of a nice meal or night out is “I’m broke”. But, “broke” can have different meanings for different people.
So, which type of 'broke' student are you?
The “I’m broke, well not really broke, but yeah I’m broke” student
Your student loan is enough to cover your rent and you even have enough money left over to survive on until the next loan blesses your bank account. You may also do a bit of part-time work. Maybe some agency work, a couple of months at a coffee shop or a short-term Uni job. Even though you are quite secure financially and haven’t gone crawling to your parents yet, you still feel like you don’t really have the money to be splashing. When your mates discuss plans to eat out, you suggest the cheapest place possible (or you won’t be going). You constantly question things you bought, even the books that you need for your course.
“I mean, I can’t find it anywhere in the library and there are no PDFs online so if I don’t get it, I’ll probably fail. But do I really need to buy it?”
You also start to feel guilty about buying yourself a little treat at the end of a long term and after being bombarded with deadlines. You can just picture your parents’ disapproving looks – the shaking of the head, the tuts, or the kissing of teeth. You always think you don’t have the money to be spending because you think you’re always broke. But really, you’re just incredibly stingy.
The big spender “broke” student
You’re the student who doesn’t have the money to be spending, but you keep splashing anyway. You’re in a constant state of cash-loss. How many times have been in your overdraft again?
“Oh well it’s not that deep. Student loan will drop soon.” – one week later – “Where did my loan go?”
You’re guilty of overspending, but you can’t help it. You need those shoes and that eyeshadow palette. Also, there’s no food at home so you might as well eat out again. You keep dashing out queens and tapping your contactless card everywhere even though you know your bank account is on the brink of starvation. Luckily you have your overdraft to save you and the occasional “Mum, Dad, I need a little bit of money please” charity fund.
The broke but can’t do anything about it “broke” student
Your loan doesn’t fully cover your rent so you get a part-time job but you can’t work too many hours because you’ve got lectures and seminars to attend and assignments to complete.
"Wow, is this really what I came to uni for?"
Student Finance held back on blessing you with a huge loan because they assumed that Mummy and Daddy would pay for everything because they earn a stable amount. But, your parents may have other responsibilities like your siblings or other family issues. However, no one seems to consider this, so money is a struggle for you but at no fault of your own.