Hatfield is a renowned town in Hertfordshire in England, UK, and is located thirty kilometers north of London. Hatfield has gained huge fame among international students also. The city is home to a large part of the University of Hertfordshire. This university has numerous schools, and it hosts both domestic and international students.
When international students visit Hatfield, one of their major concerns is managing finances. Some challenges are faced by students in managing their finances. Here, you will get relevant information about managing your finances as an international student I Hatfield.
Brief Overview of the Challenges International Students Face in Managing Finances
In Hatfield, students need to manage their finances on their own. They have to pay tuition fees, accommodation rent, and utility bills (if not included in rent). Besides, they are required to spend on meals and groceries. Books, clothes, transport, leisure, sightseeing, and there are a lot of other aspects for which students need to spend. Managing all this together may be a challenge for students who have just started living in Hatfield.
The Importance of Financial Planning for International Students in Hatfield
Financial planning is significant for students to manage their expenses properly. When students spend without planning, they may face a lack of money at the end of the month. But, with planning, they can decide how much they have to spend on different assets and services.
There are some expenses that you cannot reduce, such as tuition fees, accommodation rent, and more. But there are some expenses which you can control and reduce according to your budget. Dining out, lavish clothes, etc. are examples of such expenses.
Understanding Your Financial Situation
To plan and manage your expenses, the first thing you need to do is to understand your financial situation. Here are some of the things you can do to understand your financial situation.
- Assessing Your Income Sources
The first thing you need to do is assess your income sources. If you receive money from your parents, you can add it to the list. Besides, many students get scholarships from their universities or colleges. If you are one of them, you should also add the amount that you get from that scholarship. If you have taken an education loan or any other loan, you should include that also in the list of your income sources.
If you do a part-time job, then it is your major source of income. So, include that amount in that. Calculate how much money you get in a month to manage expenses.
- Calculating Your Expenses
The next thing you have to do is calculate your expenses. Start from your major costs. Your tuition fees are one of your most important expenses. Fees are based on the course you choose. Besides, the rent of your accommodation is another necessary expense that you will have to pay. Different student apartments in Hatfield are available at different prices, so if you haven’t chosen accommodation yet, you should choose it according to your budget.
Living costs should also be calculated. Some significant living costs are the costs of groceries, dining out, sightseeing, leisure, gym, clothes, and more.
- Creating a Budget to Track Income and Expenses
The next and very important thing you have to do is to create a budget. You should decide how much you have to spend in a month. Besides, you should also decide on which assets or services you have to spend. It will help you track your income and expenses.
Budgeting Tips for International Students
- Prioritizing Expenses
You need to prioritize expenses to make a budget first. Create lists of necessary and unnecessary expenses and keep the necessary expenses as priorities.
- Cutting Unnecessary Costs
To save your expenses, you can cut some of the unnecessary costs. For example, you can reduce your visits to restaurants and prefer to make food in your kitchen as far as possible. Besides, you can also decrease purchasing unnecessary things while shopping.
- Exploring Discounts and Deals for Students
Students can also get some special discounts and deals in Hatfield. You can ask for them when you go to stores. Besides, you can also get discounts and deals on accommodations, which you can find online. You can get these discounts and deals at the time of booking. Moreover, you can also get discounts on transport. Uno bus discounts, SaverCard, etc. are some of the sources of discounts. An intercampus shuttle bus can also be used.
- Managing Unexpected Expenses
Sometimes, some unexpected expenses may occur, such as medical emergencies. You need to have money in backup for those expenses. You should add unexpected expenses to the list of your monthly budget. If no such expense occurs, the money will be added to your savings.
Finding Part-Time Work in Hatfield
Finding part-time work in Hatfield is one of the best things to do to manage your expenses. It not only provides you extra income but also adds experience to your profile. Here are a couple of things that you can know about finding part-time work in Hatfield.
1. Legal Requirements for International Students Working Part-Time
The major legal requirement for international students is that they should be allowed to work according to their visas. Most international students are in the UK on a Student Visa (previously Tier 4). You can work up to 20 hours per week if you are studying at a degree level or above.
2. Popular Part-Time Job Options
Some popular part-time job options in Hatfield are:
Retail and Supermarkets
- The Galleria (TK Maxx, H&M, Nike)
- Tesco, Asda, ALDI, Sainsbury’s
Hospitality and Food Services
- Starbucks, Costa Coffee, Pret A Manger
- The Eight Bells, McDonald’s, KFC, Domino’s Pizza
University Jobs
- Student ambassador
- Library assistant, administrative assistant
- IT support, peer mentor
Customer Service Jobs
- Customer service representative
- Call centre staff, receptionist
Delivery Jobs
- UberEats, Deliveroo, JustEat
- Bicycle or scooter required
Tutoring
- MyTutor, Tutorful
Events and Seasonal Work
- Event staff, ticket checker, stall assistant
- The Galleria, local fairs, university events
Care Assistant Jobs
- Personal care assistant, home care helper
- Local care homes or agencies
Tips for Finding and Securing a Part-Time Job
Here are some tips for you for finding and securing a part-time job.
- Check the University of Hertfordshire’s CareerHub regularly.
- Start searching well before the academic term or holiday seasons begin.
- Customize your CV for each job to highlight relevant skills.
- Hand in CVs directly to retailers and ask for vacancies.
- Explore platforms like Indeed, Reed, and StudentJob. You can also visit online student accommodation service platforms like Universityliving.com.
- Ask friends and classmates about job openings and referrals.
- Follow local businesses and job pages for new postings.
- Practice common questions and research the employer.
- Track applications and follow up politely if you don’t hear back.
- Ensure your working hours comply with student visa limits.
Utilizing Student Support Services
You can also utilize student support services for managing your expenses. You can do the following for this purpose:.
- Financial Aid Counseling Available at the University
You can find financial aid counseling at your university. You can use this service.
- Guidance on Scholarships and Bursaries
You can also get the guidance of the university office to find scholarships and bursaries.
- Assistance with Budgeting and Debt Management
University experts can also provide assistance with budgeting and debt management.
Saving and Investing Tips
- Creating a Savings Plan
You can make savings plans to save money for your future. You can avoid some of the unnecessary expenses for this purpose.
- Exploring Investment Options Suitable for International Students
Different investment options are offered to students for investment in the UK. Students can use those options. Mutual funds, insurance policies, and many other such options can be taken as examples.
Tips for Avoiding Debt
Some students get debts for some expenses but they should be avoided as far as possible. Here are some tips through which you can avoid debt.
- Responsible Credit Card Usage
Use your credit card responsibly only when it is required. Don’t use it for unnecessary shopping.
- Managing Student Loans Effectively
If you have taken student loans, manage them effectively. Pay the installments of repayments on time.
- Avoiding Unnecessary Debt
Take debts only when they are necessary, such as for education, medical emergencies, etc. Avoid unnecessary debts and don’t take a debt for lavish expenses.
Conclusion
So, for managing expenses in Hatfield, international students should:
- Create a budget
- Prioritize expenses
- Cut unnecessary costs
- Explore discounts and deals for students
- Make a budget for managing unexpected expenses
You can get student support at your university for different things, including managing expenses. Feel free to get help and support from your university. Financial literacy is very important for a successful academic and personal experience. You should be aware of the finance management.
