Angèle Schmitz
2nd October 2023

The last semester at uni begins: good plans to prepare for your future

The back-to-school season often coincides with a new stage in your life. You still remember your early school days and here comes the last semester at uni. Next year will be a big unknown! Entering the world of work, doing additional training or taking a gap year? Any project requires a financial cushion!

During your student life, you have necessarily learned how to manage your budget: rent, charges, shopping; in short, all of a household's expenses!

Now that your last semester at university will start, you will surely be asking yourself questions about your future. What to do after your studies?

Enter the world of work?

Continue my studies/training?

Realise my dream of a gap year?

Whatever your decision, here are some good plans to prepare for it!

1. Entering the world of work

Entering the world of work requires preparation! First step: a nice CV, because it is your entry ticket for a first recruitment interview! To prepare for it, here are a few tips:

Discover our tips

Look to the future: you applied for a job and you landed your first employment contract.

Congratulations! Who says first job, says first salary!

Here are 3 steps to prepare your active life from a financial point of view:

Step 1: Be prepared for your first pay slips

Even if your joy is legitimate, the world is full of temptations and everything has a price. You will have to deal with expenses that you have probably not faced as a student: insurance, health care expenses, loan repayments, etc.

Of course, you are on cloud nine with this first pay slip, but you will have to come down from it. To avoid unpleasant surprises, find below some tips so that the landing is not too hard!

Draw up a budget to keep an eye on your income, expenditure and savings.

Make a list of all your income and expenditure and do the sums: this will give you an idea of how much money you really have.

Above all

  • Create reserves
  • Have a good view of your fixed expenses (rents, fees, loan repayments, etc.)
  • Keep an eye on your variable expenses
  • Avoid compulsive shopping
For active young people

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The banking package for active young people up to 30 years of age.

Step 2 : Plan the repayment of your state-guaranteed student loan

Have you opted for the state-guaranteed student loan? The first repayment must be made 2 years after the end of your studies and the loan must be repaid in full after 10 years.

The state-guaranteed student loan consists of :

  • basic loan,

  • additional loan based on social criteria,

  • additional increase for tuition fees.

After 5 years of study for a Master's degree, the student loan can easily amount to EUR 50,000. The monthly instalments, at a maximum rate of 2% (currently in effect), would then be EUR 460.50*. 

 

Étudiants discutent devant l'université

Based on your salary, we recommend that you build, from day one of your working life, a reserve to anticipate the future repayment of your student loan. 

* This example is provided for information purposes and does not commit Spuerkeess.

Step 3 : Start thinking about tomorrow

Even if your first paycheck is modest, it's important to get into the right habits from the start. Set aside a portion of your salary automatically.

Find out more about the different options below:

BHW

Saving today to build tomorrow

Find out more

S-Pension

Benefit from a complementary pension

Find out more

Speedinvest

Invest in a general way

Find out more

S-Invest

To go even further

Find out more

In any case: your first salary will allow you to save and invest in your future.

2. Continue my training

Splendid! You thought about going even further in your studies.

You are a student and you don't have a regular income, but even by starting with small investments, it is possible to create reserves for the future.

Check out our tips for creating reserves starting today:

BHW

Saving today to build tomorrow

Find out more

Speedinvest

Invest in a general way

Find out more

S-Invest

To go even further

Find out more

3. Make the dream of a gap year happen

Are you dreaming of a gap year for travel, volunteering, internships abroad, extending your horizon? Be aware that this is a year that needs to be prepared in detail, because you will most likely have no income, but a lot of expenses!

A few tips to prepare for your gap year:

  • Make a plan of the activities you want to do during this year and set your goals to achieve. This will prevent you from regretting missed opportunities;
  • Make a financing plan. It is advisable to build up savings previously used to cover expenses for a full year:
  • Cost of living
  • Housing costs
  • Travel costs
  • etc.
  • Avoid financing this year with a loan! The money is quickly spent and you don't want monthly loan payments to weigh on your monthly budget at the start of your professional career.

This article is provided for information purposes only and has no contractual value. It shall not, under any circumstances, constitute or be equated to an investment recommendation (within the meaning provided under regulations on market abuse), investment advice or an offer to buy or sell financial instruments.

Readers should form their own opinion on the products or services referred to in this article. They are free to contact a Spuerkeess advisor if they have any questions about investing.

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