The recession, it seems has dragged on for ages. The economic struggle has hit Britain and the entire world pretty hard in recent times. People of every age have struggled with the lack of jobs available and continued rise in prices. The government have brought in many schemes to try and attack the recession head-on, but is it really working?
As students, money is very important, many live away from home, often for the first time in their lives and are left to fend for themselves, but in this economic crisis, how possible is this? Can we rely purely on government loans and funding? Is it possible to cope?
The fact that we are students based in a big city, such as Nottingham, works against us. Where prices are often higher than other places, living costs are a fair bit higher than in smaller towns and cities across the UK. As students, we have to cover the costs of rent, food, social lives and other goods that are vital to us having good living conditions during our time at university. On top of this, tuition fees have to be covered, which are on the increase every year it seems and these are usually paid for by the government loans that students receive.
All of these loans need to be paid back, with interest. It is clear that, money is one of the vital issues of student life. So, therefore, the recession is hitting us hard, but what can we actually do to try and ease the pressure? We have enough to worry about at university, with exams and studying on the forefront of our minds, should we really have to deal with the stress of finance as well?
Maybe the simple solution would be to search for a job, surely someone would be able to employ students? Well, currently, unemployment figures are at the highest they have been for years, an estimated 2.46 million people are without a job and this figure is rising constantly. Jobs are hard to come about, for everyone. Some businesses are claiming that students are unemployable at the moment, due to the limited number of hours that students can work.
Being a student, of course studying has to come first, therefore as much time as possible needs to be dedicated to this, meaning that the amount of time left to possibly work for money is considerably less. The thing is, employment works both ways, the employee wants to get as much money from a job as possible and the employer wants to get value for their money and require people to work as often as possible for as little as possible. This means that many jobs won’t suit students and that students won’t really appeal to prospective employers. Also, that fact that often students leave one level of education just to enter straight into another means that many lack experience of working and a lack of work experience is usually something that sways an employer into saying no.
However, I will say this: there is no need to give up hope. Personal preference is different for all of us, if you think you are employable and think you can manage studies and a part-time job, then go for it. There is no reason why we should all be part of that 2.46 million.
The best way to fight through this recession is by planning and managing our money. Whatever money we have needs to be managed, however little or big the amount we have is. University is not just about an education, it is a life changing experience, where we will all gain vital experience about life in general. At university, we are often thrown into the deep end somewhat. Where usually we have parents to rely on, at university we only have ourselves and we need to balance our lifestyles so that we can be as comfortable as possible.
There is the assumption that university is a bit of a breeze to people who haven’t been themselves. From the outside it just looks like a lot of drunken nights, takeaway food and a bit of hard work on the side, but as I am sure you will all know, this is not the case. We all need warmth, shelter, food and water, and all the other essentials in life, which all need to be paid for. Money doesn’t stretch as far as you would like it too. The key is to plan. Make sure the money you have covers all the things you need to make university as enjoyable as possible.
In a recession, money needs to be carefully managed and spent wisely, trust me, from experience, those new trainers may seem appealing at the time, but soon you will wish you hadn’t bothered. You have to make sure you look after yourself; everything else will fit into place once you have done this. Budget student nights are there because our unions understand the position we are in, they are there to help us enjoy ourselves, without us getting into financial trouble. So don’t worry, the recession won’t stop you getting the university experience you have always heard about and dreamt of. You just have to think a bit more carefully and make sure you don’t forget the basics. Life will still be great, I can assure you.
So, can we cope in the recession? Of course we can, to be honest we haven’t got much choice. We have all got to make it work and not be defeated by it. Careful planning and managing will go a long way to helping you cope, so just consider how you personally are going to make things work out in a way that will suit you. Lastly, don’t worry, enjoy university, have fun and be happy. It’s only money after all.
Ian Davies
Students in the Recession: Can You Cope?