It is important to manage your own finances, so you will not be surprised one day, if you have forgotten a liability. An Excel spreadsheet (for Mac users: Numbers) is a great way to keep track of all monthly payables and incomes so you can estimate how much cash you have left for variable spending. These are expenses that you will never be able to accurately estimate, such as books, new clothes, or spending at parties. It’s also best to keep a close eye on them so that you can always understand how much money you have left after the first variable spend and what you can or can not afford.
Accounts for young people
Anyone who did not already have an account as a student will now need one as a student. As a rule, students receive a free checking account with which they can do everything they need in everyday life. Each account should include a debit card, it makes life much easier in the business. Some young people’s accounts have an associated credit card, but this is not mandatory for the student. While it may be useful to order from foreign traders on the Internet, it also entices you to spend money you do not currently have. At most, such a credit card is useful, for example, to pay the tuition or to bridge economically weak times, if you do not have anyone from whom you can borrow money. But that costs money and is not like the checking account for free.
Which health insurance?
If you earn your own money as a student, it is possible that the family insurance through your parents can no longer assure you. A side job on 400-euro basis is unproblematic; Everything about it can put you in the situation of having to take out your own health insurance. The amount is based on a statutory insurance based on what you earn, so you should only change if it is a long-term and secure earnings, for example, in the context of a study-accompanying job. As a student, it may make sense for you to take out private health insurance. This will cost you a fraction of the legal insurance and you will get a much better service. However, you have to be concerned that you have to decide after graduation whether you want to continue to be privately insured or return to the statutory health insurance. Only when you have finished your studies or have been forced ex-matriculation, you can go back to the statutory health insurance.
The side job
If at the end of the money there is always so much left over, you should think about a side job. For example, 400 Euro jobs are available in supermarkets and retail, where students are welcome weekend helpers. You should just be aware that you also have to work once a week during the week or maybe sacrifice the entire weekend and that the payment is usually under 400 euros per month. You can find part-time jobs that you can do from home on websites like Machdudas.de – there you can transcribe audio files, correct or write texts and do other commissioned work, which is mostly done by private persons or small, independent typing agencies. You will not get rich from it either, but you will definitely build up a nice side income with free time allocation and can invest the money for bad times, if you have to save money. As a student of a higher semester, you can also apply to companies in your own department, maybe they have some easy work for you.