Make the most of your money at university

Want to know how to make the most of your money at university? Just ask those who have been there, done that! We asked a mixed group of college grads:

What financial advice do you wish someone had given you before you went to university?


Andrea King, City University, London '05

Explore ALL financing opportunities at home, including talking to your own parliamentary representative and business or civic leaders in the field of study and the Ministry of Education's higher education division six and seven times.

Take your lunch with you. The canteen/cafe prices are deceptive!!! Especially tea!!!

Check your school email box every day for employment opportunities.

Definitely ship books and papers by barrel. Do it three weeks prior to departure if possible. Exchange or donate winter clothing with/to charity shops.

Jerome Sealy, New York Institute of Technology, New York City '98

Cheques from Barbados take 5 business days to clear so if you’re broke and you get a cheque from home, you’re still broke.

Getting a part time job as a desk manager (signing in people to the dorm after hours) was invaluable - you get to do your homework and get paid. I bought my entire entertainment system in one semester with that job.
Great for meeting people, and if yuh nosy you get to know everyone’s business.

If you are paying for housing, take the meal plan, and the insurance, never skimp. I think I wound up in the hospital twice or so in my college career and not having to worry about being put out of the hall is a big deal.

As for shipping barrels, I packed a half of a container since I was very attached to my college furniture at the time and it allowed me to get a nice unfurnished apartment once I got home. I was able to split the cost obviously and that helped.
Definitely speak to advisors about scholarship applications. In my second year I found out about the Martin Luther King scholarship - it was only $500 a semester ( book money) but the only qualification was that I was black, and could prove it. So I had my books paid for after that. Plus at the end of each year you can re-sell your books to students individually or back to the bookstore all at once which instant cash right before vacations.

My biggest piece of advice would be, love your parents cause they may have to foot the bill - mine did for the most part.

Mialisa Fenty, University of the West Indies, Mona, '08

Banks seem to always be a problem for students. I think the best thing would be to find the same bank in the country you are studying in. For example, I deal with First Caribbean Bank in Jamaica and it makes ansactions very easy. So while some may opt for the credit union because it has good exchange rates for students, I would join an International bank so that it makes wiring easier. Also, making sure you have spending money along with the travellers’ cheque, preferably in US currency because that seems to be the best one to have.

Pack all of your favourite things: clothes, pictures, books and so on. Have spending money. Bring a couple of DVDs. Make sure your cell phone has on a lot of credit cause you gine be calling home often, but get a local sim card as soon as possible.

Get a map of the place. Explore before school starts.

Also bring a couple of canned stuff and food since you don't know the place so well and shopping might be hard to do the first couple of days and until you get your money sorted out.

Get involved, make friends, get a part-time job in the computer lab or the library, get a cook book - preferably Caribbean.

Shernelle O’neale – University of Strathclyde, Scotland '05

I would recommend if you get your money in lump sum to pay all expenses that you have to incur in full (like rent) at the start of the year .

If you are going to the University of Strathclyde I recommend that you make an effort to live below your means. Wash full loads. Do not accept every inclincation to party, or go out drinking. Pay for the gym in January, it's cheaper.


Go to the supermarket for perishables. Use the pound store wherever possible. If you can get it in Savers or the pound store, buy it there. Use the pound bus between cities. It's cheaper. Go to the movies at odd hours. It's cheaper. Buy food when you have no choice. Cook for at least two days.


Part-time jobs are rough depending on your student schedule. Try for waitress and bartender stuff. It must be something flexible. Never forget that you are there to study, not work. Better to scrunt and get all your work done than to have money and be behind.

Pink Parcel ships from Glasgow to Barbados. Send down all the things you know you won't need in a month. Most of your clothes, books, etc. about a month before you leave.

Buy groceries at Tesco online. They will deliver directly to your door in the winter. No lifting bags up flights of stairs. It's cheaper too than shopping at the downtown branches of supermarkets because the stuff comes straight from the warehouse. You don't pick up unnecessary stuff because you don't see it.