No debt, no theft, no fret

BY B. SIEJA 

Plan your budget wisely by B. Sieja

They say money makes the world go round, that’s a given, but it also can get you into trouble if you’re not careful. Every year thousands of people come to Ireland to study. They leave their countries, families and friends and plunge into the unknown. They face new responsibilities and challenges and for many it’s their first time away from home. Moving abroad, managing and protecting your money, especially in such tricky economical times present many difficulties. Getting into debt, having your credit card details stolen or worrying about it  may cast a shadow on your college experience. Fret no more as there is a solution to your problems.

Two big Irish companies o2 and 3v designed disposable credit cards that work just like your top-up mobile phone. When you get one, you simply put on the amount  you want to spend and shop away. Both cards allow you to purchase goods from online websites. The o2 card also allows you to pay for goods in shops and restaurants. With disposable credit cards you won’t spend more than you have planned, you won’t get a nasty bill and you save yourself a few bob by avoiding paying the interest rate. So how do you get one? It’s simple! Both cards can be ordered online with o2 being also available in their stores. There is no charge for 3v cards and future top-ups under twenty euros. o2 sells its cards for 4.99e and charge between 50 cents and 3 euro per transaction. Applied cost depends on the amount you want to add to your card. Both companies ensure that topping up your card is easy and have lists of outlets available from o2 and 3v websites. If you own a smart-phone you can also download the o2 app which allows you to quickly check your balance and shows top-up outlets nearby.

o2 card app and 3V card by B. Sieja

It is a new and safer way to shop online which can also help students plan their spending. Many of us have very little or no financial support so managing and controlling your pennies is necessary. First, you need to learn how to plan your spending. Decide on a time frame; how many days or weeks will suit you and your budget best? A week? A month? You can match it with bigger bills that clearly mark days such as rent. It is useful to create a list of your basic expenses e.g. rent, phone credit, Internet and then count how much exactly you must put aside to cover it. Once the bills are taken care of you know exactly what’s left for your groceries and perhaps entertainment.

There are various markets offering low prices on everyday products. Tesco, Lidl and Aldi are considered the cheapest with variety of great discounts and special offers. For clothes you can get bargains in Dunnes, Penneys or TK max, all located in city centre. And let’s not forget about the post-Christmas sale that lasts all January. There is also a number of websites that offer good deals on products as well as entertainment. You can avail of discounts offered by Living Social, Groupon, Grab One or Freebie List to name a few. Websites offers vary tremendously! From restaurant deals, spa treatments, tickets and entries for numerous events, travel deals to freebies and trial products. Although it all sounds good and inviting remember not to be too easily tempted by special offers. Try to stick with your budget. Unfortunately no matter how much you plan your spending unforeseen or spontaneous expenses can happen. If it happened to you check whether or not you can return the purchased item and no matter how badly off you are do not borrow money from your friends or bank. Borrowing is a temporary solution and being in debt only expands list of bills. 

Penny saved is a penny earned by B. Sieja

A disposable credit card can help narrow the possibilities of over spending and the trap of debt. The card won’t allow you to pay for goods if you didn’t top it up. It can also help protect you from theft. We all have  a friend or a relative who got the bill  for  a plasma TV or a holiday in Dubai... Disposable credit cards have no connection to your main money source (be it a bank account or a sock under your mattress) so in the case of your details being compromised your money is safe and you can sleep soundly.