Do You Know What You’ll Buy This Summer?

Know What You Need and Write It Down!

If you already know you’ll need something for the next school year, write it down now and start saving for it. Is your laptop in unbearable condition, your phone over three years old with a battery that doesn’t last half a day, and every app lags? Or do you need money for dormitory, rent, or tuition?

Calculation - Y Generation Student Union

Write it down, add it up, and let’s see how you can reach your goal! Although there is a limit to how much you can earn as a student in the summer, for most of us, this is more than we've ever had at once.

Don’t Forget Why You’re Working!

Just imagine, you’ve written down what you’re saving for, you have your goal, you went to the student union, got a great job, and started working. After the first month, you’re tired, fed up with the year-long grind, and desperately want to rest. And then comes the awaited SMS with your salary!

Payday - Y Generation Student Union

It’s an incredible feeling to see your hard work pay off, right? But here’s the twist: you can’t spend it all in two weeks!

Remember why you started saving? Set aside a portion of the target amount depending on how many and how large the payments will be into your account this summer. You should still have a nice sum left to spend on whatever you want. 😉

Budgeting – Where Does the Money Go?

If you’ve done everything right so far, congratulations! Many adults don’t reach this point even after years. Now comes the hardest part, which if you master at the start of your professional career, will give you a huge financial advantage. Budgeting means knowing where your income comes from and how your expenses are.

The key is that every income and expense counts: salary, gifts, pocket money, scholarship. Additionally, you’ll need to track all expenses: yes, even that 200 HUF cola you grabbed from the store in the morning. The goal is to know exactly what and how much you spent in a given month, and how your income and expenses stand. There can be small differences, but the goal is to have the amount of savings left at the end of the month that your budget shows.

Budgeting App - Y Generation Student Union

In practice, it’s much simpler than it sounds. Grab a plain notebook, a dedicated app, a budgeting journal, or if you’re lucky, your bank’s mobile app might have this feature (in which case you’ll need to keep an eye on cash expenses separately), and track every expense and income! It’s important to write down every expense immediately, because later you won’t remember, no matter how much you convince yourself otherwise.

Reward Yourself!

Suppose you’ve done everything right, your expenses are in order, you can live with your spending, and you didn’t have any huge splurges this month. You worked, partied, but overall managed well with the money you had, and you’re satisfied with yourself. If you can say all this, congratulations, we couldn’t have done it better!

Now reward yourself with something small, just be careful not to ruin your whole month’s work. Buy a nice piece of clothing, go out for dinner with your friends, have a big movie night, or treat yourself to an expensive coffee. 😉

Movie Night with Friends - Y Generation Student Union

If things didn’t go smoothly, don’t be discouraged! Nothing can be mastered in a day, especially financial awareness, as it’s something we can learn throughout our lives. If you diligently filled out your expense journal but don’t feel the result, you still deserve a small reward for the effort. In this case, choose a more cost-effective treat. Go to the beach, buy a big serving of your favorite ice cream, or spend a quiet evening doing what you love most.

To Make Your Plans Come True Just as Easily, Get a Student Job!

Click and check out our current student job listings!