K&H Reminds Students to Balance Fun, Finances for the Summer

Banking

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The summer offers a unique opportunity for students to embrace the joys of both work and leisure. However, K&H notes that it is important to strike a balance between financial responsibility and fun. For example, when traveling abroad, it is advisable to take out travel insurance, it is worth using a bank card when shopping and it is recommended to look carefully at the choice of accommodation.

According to a survey by Mind-Diák Szövetkezet, the average hourly wage for students is between HUF 1,334-2,500, so based on recent employment offers, you can earn up to HUF 200,000 per month this year through student work, although there may be differences depending on the part of the country and the type of work. It is very important that students work legally, with a contract. It is also worth looking at intermediary cooperatives, as they are also aware of the employment rules, for example on overtime and night work, or the tax-free limit on pay. I

K&H notes that it's vital that young people are always careful. For example, when traveling abroad, the bank advises young people to take out travel insurance to avoid extra costs incurred by accidents or stolen valuables. According to the bank, it is also a good idea to use a card when making payments instead of fiddling with cash, which can be stolen by thieves even from the most careful traveler.

It is also worth being careful when choosing accommodation. The bank notes that it's worth the effort to browse through online offers and reviews of places to stay, and student discounts are worth a special mention.

Consciously working out meal plans can also save students money, and the summer offers an opportunity to try cooking or baking more time-consuming dishes that one does not have the time to prepare during the year.

Planning Ahead

K&H says that it is worth considering, even with the help of parents, what will happen when the summer is over. In other words, students should consider whether they want to spend all the money saved or earned from work on travel and parties. It is advisable to discuss with parents any longer-term expenditures that may arise in the future, the bank notes.

Overall, the most important thing is for young people to manage their finances carefully and responsibly, so that they can avoid a lot of inconvenience as adults, the bank says.

K&H adds that its financial quiz "Ready, steady, money!" (Vigyázz, kész, pénz!), achieved considerable success this school year and will be followed by another round next year. In the competition series, students can learn how to manage their money in a playful way.

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