Managing your money

It’s National Student Money Week – free financial advice at Cardiff Uni

 

Hannah from our Advice & Money Team tells us more about National Student Money Week 2016 – Students, Money and Mental Health

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Today marks the start of the sixth National Student Money Week (NSMW) run by the National Association of Student Money Advisers (NASMA). The Advice & Money Team, the Wellbeing Team and the Students’ Union Student Advice Team are working in collaboration to encourage students to improve their money management.

 

What’s NSMW all about?

National Student Money Week (NSWM) is a national campaign that aims to;

  • raise students’ awareness of the free financial advice services that are available to them within their institutions
  • provide students with useful information to help them make more informed financial decisions while at university and beyond.

 

During the week universities, colleges and student unions all over the UK will run activities and raise student awareness of financial capability by providing information, advice and guidance about money management. NSMW also aims to promote the free advice and support available from institutions.

 

National Association of Student Money Advisers (NASMA) and Students

NASMA aims to relieve the poverty of students through the provision of good quality advice, information and training. They are a registered charity who coordinates the sharing of information and best practice amount student money advisers. In addition NASMA works closely with national decision makers and partners to influence student finance policy.

If you’ve ever listened to a talk about student funding, had a bursary, accessed a hardship fund or had a problem with your student funding and sought advice from your university you can be fairly certain that you’ve spoken to a NASMA member.
Being a student money adviser can be quite challenging as lots of people don’t want to talk about money until they have a problem with it. NASMA is a way in which student money advisers in different universities can share knowledge to the benefit of all students. By communicating nationally it also means we can see trends and issues in a wider context and are able to try to liaise with external agencies, such as Student Finance England or Wales, to resolve these before they become a problem for all students. When problems do arise though, you can be assured that NASMA members are on the front line trying to resolve these.

 

National Student Money Week 2016: Students, Money and Mental Health

For NSMW16, NASMA has chosen to focus on the theme of Students, Money and Mental Health.
The basics to money management is balancing your income against your expenditure and not spending more than you have coming in. Easy, right? Well… easily said but not so easily done! If it was that easy no one would ever have a problem with their finances!
Managing your money is affected by learned behaviours and factors which affect how you manage your money daily, planning for future life events and dealing with financial difficulties. This is why your financial wellbeing is linked to your emotional wellbeing.
Being a student means you will likely go through various life transitions and these can be difficult to get through emotionally and financially. Leaving home for the first time, meeting new people and having to quickly learn how to balance your academic studies with your day to day life all can be difficult. Add on top of this control of your money and an expectation that you understand financial jargon and this can all become just too much to cope with. For some, the effects of these difficulties can be seen on their course, such as losing motivation and concentration. For others it’s the transition of graduating to employment that is more difficult to manage

 

National Student Money Week Events

The Advice and Money Team are working in collaboration with the Wellbeing Team and the Students’ Union Student Advice Team to run a range of interactive events during NSMW16.  Our stalls will be:

When Where Time
Monday 8th February IV Lounge, Heath Park Campus 11.30am -1.30pm
Tuesday 9th February Outside the Students’ Union, Park Place 10am-2pm
Friday 12th February In the Food Court, Students’ Union, Park Place 10am-2pm
Thursday 18th February In the Food Court, Students’ Union, Park Place  11am-2pm

 

You will also be able to collect leaflets about managing your money and your mental health from our stalls.

Our student money adviser, Einir England, will also be taking to The Student Room on Friday 12th February at 1pm to support a Student Finance England web chat. Discussion on key funding topics will be hosted by various NASMA members each weekday at 1pm. The topics that will be discussed in relation to student funding are:

  • Monday – Independence
  • Tuesday – Previous Study
  • Wednesday – NHS funding, Social Work funding and Medicine funding
  • Thursday – EU funding and Migrant Workers
  • Friday – Placement and Year Abroad funding

Keep your eyes on our  Twitter and  Facebook accounts for information and top money tips throughout the week.

 

Get Involved

As mentioned above you can follow activities on twitter and facebook, or you can come and speak to us either in the Student Support Centre or visit our stalls.

The main aim of NSMW is to not to be afraid to talk about money and to know where you can get help if you need it. If you know of someone who you think this blog would help, make them aware of it! All advice given to students by the Advice and Money team is confidential and you might find that by talking to someone you or they can stop worrying about money. The A+M team are non-judgemental and just want to make sure you have all the info you need to make informed financial decisions so don’t be afraid to speak to an adviser. Contact the Advice & Money Team: adviceandmoney@cardiff.ac.uk 029 2087 4844 or call into 50 Park Place – our opening times.

 

For further information about managing your money please see our guide available on the intranet: Our Guide to managing your money.
Best wishes
Hannah, Advice & Money Team

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Your Student Life, Supported.

The Student Support Centre has a range of services dedicated to helping students make the most of their time at University, including: Advice & Money, Careers & Employability, Counselling, Health & Wellbeing, Disability & Dyslexia and International Student Support.

The Student Support Centres are located at 50 Park Place, Cathays Campus and Cardigan House, Heath Park Campus.

For further details of services, events, opening times and more find us on the University Intranet.

 

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