The secret life of student budgets: a survival guide in disguise

Alright, fellow students, buckle up! We’re about to embark on a journey through the mysterious world of reference budgets. Trust me, it’s not as dull as it sounds — think of it as the cheat sheet to adulting without going broke or resorting to a diet of instant noodles and leftover pizza.

That’s exactly what my doctoral research will focus on: students’ standard of living and the cost of learning in the Finland of 2020s!

So, what’s the deal with reference budgets?

Reference budgets are basically the financial rulebooks for different kinds of households. They’re like those quirky life hacks you find on the internet, but for living a decent life. From young professionals to grandparents, and yes, even us broke but brilliant university students, these budgets lay out the bare minimum we need to not just survive but thrive.

Academics have been wondering about the needs of individuals to not only survive in modern societies, but also be able to participate in them. What are the specific items and services that people need in order to be part of society and lead a minimally acceptable life? That’s what I and many other reference budget researchers have been asking ourselves, and well others too. By conducting focus groups with the groups we’re creating reference budgets for, we are able to co-create the meaning of the acceptable minimum standard of living.

The Finnish twist: when students steal the spotlight

While Finland has been pretty good at crafting reference budgets for everyone from toddlers to retirees, there’s been a gaping hole where us university students are concerned. We’re not just any demographic; we’re the unsung heroes surviving on a diet of student discounts and government subsidies.

My research will be filling in this gap by creating reference budgets depicting student needs through co-creating with students themselves.

The great methodological quest: crafting the ultimate student budget

Creating a reference budget for us student folk isn’t exactly a walk in the park. It’s more like navigating a maze blindfolded while juggling flaming torches. We’ve got unique expenses, weird spending habits, and let’s not even get started on the government subsidies. Enter the blended methodology: a fancy mix of interviews, surveys, complemented by expert opinion.

Why you should care (hint: it involves your wallet)

Understanding the secret life of student budgets isn’t just academic curiosity — it’s survival 101! Knowing the real cost of student life can help us make smarter financial decisions, convince policymakers support vulnerable students, and maybe even advocate for a more equitable educational system.

So there you have it, the not-so-secret life of reference budgets and why they matter to society – from brilliant university students to policy makers. Next time someone tells you university is all about lectures and exams, kindly enlighten them about the art of budgeting like a pro!

Alisa Jashari
The writer is a Sociology doctoral researcher at the INVEST flagship at the University of Turku. She enjoys going to the sauna, visiting art exhibitions, and exploring new cafes.

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We are now looking for Finnish nationality students to participate in focus groups discussing an acceptable minimum standard of living during study years.

Please fill in this questionnaire if you are interested and earn a 20 euro reward coupon!

Please note: Discussions will primarily take place in English, as is the language of the research, but Finnish will be used as a supporting language when needed. Materials provided by us (sent a week before the focus groups) will be available in Finnish and English. Fluency in English is not needed or expected, we rather care about hearing your thoughts!

Warm regards,

Alisa Jashari
Doctoral researcher
INVEST Research Center
University of Turku