The first and best advice to get a healthy economy, whether you’re training or not, is to put a budget. It doesn’t have to take days, and you don’t have to write everything you buy. It is often enough to go into your online banking and see how you have spent your money in the past three months.
Keep track of revenue and expenses
Calculate how much you spend on fixed expenses (rent, supply, phone, internet, subscriptions, etc.) and see how much you have left. Remember to take the expenses that should not be paid each month eg insurance and license that often pay annually.
Most students can cope with a food budget of DKK 2,000-2,500 per month and an amount for clothes, books and pleasures of around 1,000-1,500. In addition, there is a small amount for savings. Look through your firm expenses well and consider whether you can save on any of them. For example, if you do not have streaming services and stick to the DR, you can start running in the park instead of the gym and can you handle a small phone subscription?
If you have less than DKK 3,000-4,000 available after you have paid your fixed expenses, you should consider the possibility of taking a job or a loan.
You can read more about putting budget here.
Take a student job
A student job is not only good for your finances, in many cases it also makes you better in terms of getting jobs after graduation.
It is of course extra good if you can get a job that is relevant to your education, but also unskilled leisure jobs such as educator assistant, cashier service or café employee can be good for your network and your finances.
A job of 15 hours with a salary of DKK 110 per hour will mean a net income close to DKK 4,000 a month on top of your SU.
Carefully consider how much time you can spend working next to your studies. If you are reading full time, you should not commit to more than 15 hours of work. In some periods you can probably work almost full time and in other periods – eg up to exams – you will probably need to turn down the work. Therefore, make sure you get a flexible agreement with your employer.
You can hear more about student jobs at your union, or you can read more here.
Of course, you are not meant to accumulate a huge savings or set aside for your pension while you are at SU. Savings should only serve as a small profit, which must ensure that unforeseen expenses overturn your finances.
It is good to have a little to take off if the bike needs to be fixed, your computer burns together or when to buy books at the beginning of the semester. The size depends on your temperament and consumption pattern, but for many, 10,000-15,000 DKK will be appropriate.
Talk about money with your friends
Many of your friends are probably in the same situation as yourself. When you are young and in education or new in the labor market, income is small and the amount of disposable income is even smaller.
Talk about what each of you can afford and find fun ways to be together without spending money. Replace, for example, restaurant visits with common meals at your own home, sign up as volunteers at festivals instead of buying tickets and going to recycling shops instead of expensive shopping trips.