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Financial Management

Many South African students struggle with the additional pressure of financial worries, and, in some cases, this can have a negative impact on other areas of life, like your academics. On this page there are tips on money-management and practical on-campus resources that you can access. If you are struggling to access enough food or to afford accommodation, you may want to connect with the Wits Citizenship and Community Outreach (WCCO)

  1. Managing your money
  2. Resources

Infographic financial worries

Managing your money

Prioritise

Work out what are the most important things to spend your money on, such as food and accommodation, so that you can be sure that you cover your basics first. If you’re struggling to cover your survival basics, take a look at the resources section in this article.

Track your spending

This may sound like a lot of work, but tracking how you are spending your money may help you to see areas that you can adjust. For example, you may find you’re using up a lot of data on Instagram, when you could be accessing WiFi for free in various locations.

Budget

When money is tight, it’s important to budget well so that you can make the best use you can of your limited resources. Put together a budget for yourself, which involves looking at your income amount, and allocating reasonable amounts for your various expenses. Put in the effort to stick to your budget where possible.

D.I.Y. food

When it comes to food, avoid buying junk food such as pies or burgers. Making yourself nutritious food, such as peanut butter sandwiches, could get you more nutrition for less money. Spending money on cold drinks also eats up unnecessary budget that you could spend on healthier food. Choose food that has a higher nutritive value to help you to feel full for longer and provide your body with what it needs. A simple swop is buying brown bread instead of white bread.

Share costs with friends

Get some friends together and buy in bulk or use 2-for-1 specials. You can also share food that might go off just for one person (like a loaf of bread).

 

Resources

Access to Food

The Wits Food Programme is available to all students as a service, and exists to meet the needs of students who experience food insecurity on campus. You can access the programme through the WCCO or visit them at Hostel Road (between Cricket and Rugby Fields), Wits Braamfontein Campus East,  Tel: 011 717 9217 or 011 717 9255

Access to Accommodation

For accommodation concerns, please consult Campus Housing and Residence Life.

Financial Aid

To find out what bursaries, scholarships and funds you might be able to access, go to the Financial aid and Scholarships Office.

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