Money on Your Mind: Spunout Series

Financial Support and Information for 18-25 Year Olds.

Nearly half (47%) of college students in Ireland say they struggle to afford living expenses. A survey conducted by the ILCU and youth website Spunout* discovered that while nearly half of all students say they struggle to afford living expenses, 88% worry about money - with over 40% stressing about money all of the time. Finding and keeping a job, travel expenses, paying rent, as well as college fees and books, were some of their biggest financial concerns. You can access the full findings here.

In response, the Credit Union and Spunout have launched ‘Money on your Mind,’ a content series on Spunout.ie that covers the main financial concerns of 18-25 year old's, and provides helpful, jargon-free advice around managing money and financial stress as well as information on specific financial topics.

The campaign will include real-life stories from young people around their financial struggles and successes – stories for young people, by young people.

As part of the campaign, young people are encouraged to access the Youth Information Chat service where they can chat to a Youth Information Officer who can answer questions and point readers in the right direction. The service is available through spunout.ie/question.

Financial Topics

How to get a Loan

Getting a loan can be really helpful when it comes to paying for the things that we need, but it’s really important that you know who you’re borrowing from, the terms of the loan, and the interest you will pay back.

Written in simple, jargon-free language this article will cover how to get a loan, everything you need to consider, and what to do if you are refused. Things covered are below:

How to get a loan
What to do if you are refused a loan
What factors do lenders consider when you apply for a loan
How to check your credit history
The different types of interest you may be charged on a loan

You can read the full article here.

How to Create a Budget

A budget is a plan of how you will spend your money over a certain period of time. By learning how to create a budget, you can prioritise affording the essentials, while still planning for the future and working towards your financial goals. If you create the budget that is right for you, it can help you to avoid stress and reach your financial goals. Things covered are below:

What is a budget
Why should I create a budget?
How to create a budget

You can read the full article here.

How to Deal with Financial Stress

Talking about money can be challenging, particularly if you are faced with debt or other kinds of money challenges. Financial stress can have a significant effect on your wellbeing, and nearly everyone will face financial stress at some point in their lives.

You are not alone in how you are feeling, and there is advice and support available for looking after your money, and your mind. Things covered are below:

How to overcome financial stress
Setting realistic financial goals
Taking care of yourself
Support for when you're worried about money

You can read the full article here.

Saving Money as a Student

Creating a Budget
Reducing Bills
Using discounts
Switching providers

You can read the article here.

How to Start Investing

Saving can offer you a sense of financial security. If you are faced with an unexpected expense, having savings to fall back on can be very helpful. Saving money will also help you pay for large purchases, prepare for the future and reduce financial stress.

Investing can be a useful tool that helps you to save towards your future goals. However, before making a financial investment, it is important to seek reliable advice from a qualified expert. Investing means putting some of your money into an asset, such as a share of a company, with the hope that your money will increase over time. Before you invest money, there are some things you should consider. Areas covered are below:

Getting advice
The online environment
How to spot fake offers

You can read it here.