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In this assignment I will be consulting a university student's Budget schedule I will be offering the student advice on how to solve

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Introduction

A University Student Budget Sheet In this assignment I will be consulting a university student's Budget schedule I will be offering the student advice on how to solve problems when in dept by offering an student loan, grants etc. I will be referring to the budget schedule to what areas the student can cut sort on to cover the other costs mostly needed to be covered. UNIVERSITY STUDENT BUDGET SCHEDULE Mouthly Week 1 Week 2 Week 3 Week 4 Total INCOME DESCRIPTION University Student (Grant) �142 �142 �142 �142 �570 Interest and dividends �0 �0 �0 �0 �0 Savings �150 �0 �0 �0 �150 TOTAL INCOME �292 �142 �142 �142 �720 EXPENSE DESCRIPTION Beauty shop and barber �5 �0 �5 �0 �10 Cable TV �15 �0 �15 �0 �30 Clothing �50 �0 �50 �0 �100 Credit card payments �25 �0 �25 �0 �50 Electricity �50 �0 �0 �0 �50 Entertainment and recreation �25 �25 �25 �25 �100 Gas company �50 �0 �0 �0 �50 Gifts �15 �0 �0 �15 �30 Groceries and outside meals �15 �0 �0 �0 �15 Household �15 �10 �10 �5 �50 Laundry and dry-cleaning �3.25 �3.25 �3.25 �3.25 �10 Other ...read more.

Middle

Having investigated the bank institutions the best service provider for students is far from best 'HSBC' the reason being is because let alone providing the loan to the student they give free packages which includes driving lessons with UK's best driving agency 'BSM' and they even give free MP3 players which has a high demand from students. The benefits when applying for student loan from HSBC bank: 1. The payment is not requested from students till, the students income is more than �15,000 a year. 2. Students won't have worry about the interest rate it is quite low so they will be able to take as long as they want to pay the loan back. 3. Another good thing is that they get free driven lessons form the best driven agency in the UK, from the British School of Motoring. 4. MP3 players are given to when applied for a student loan. To cut the deficit and approach an surplus the student can cut on personal expenses for example less socialising events, purchase less clothing an can cut the cable TV. ...read more.

Conclusion

My recommendation is that the student should not use this service that often otherwise they will have to pay interest which a disadvantage for them. * Credit card (9 months free APR%): this service is one of my recommendations to the student the reason for this choice is because a card with 9 months free APR (interest free) the student wont have to pay back for a long time. Knowing that these services are beneficial in most occasions, there are times which occur meaning there are risks and drawbacks towards these services. The risks and drawbacks the services may bring up, is many different errors, these are as follows: The overdraft is a service which is always used by a student when in a rough time, and sometimes they wouldn't pay it back when demanded by the service provider. This is when the drawbacks occur when the procedures are not followed properly by the student; this is the drawback which may occur. 1. The student will have to pay and extra fee (interest), the fee varies according to the Interest rate the service provider sets. The fee will keep on increasing until the overdraft is paid by the student. ?? ?? ?? ?? Unit 14 Budgeting Fatih Gaygusuz 13.1 ...read more.

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