SPEAKING FROM EXPERIENCE - concept crit

What problem have you identified?

Students struggling to budget their money - spend money on unnecessary items that could have been used elsewhere/put to better use and/or item could be found cheaper.

Why is it a problem?

1. So you can save up in order to do something in the summer, possibly with friends from home. Travelling, festivals, holidays etc

2. You need food to survive. Food costs money and should be prioritised over other material "stuff".

3. Need to be able to afford to socialise so that there's a balance between work and play.

4. Printing costs, as do art aupplies. Need to consider all aspects of uni life so that you're prepared when the time comes.

5. Learning how to budget is a good skill for the future, when money becomes increasingly important.

6. Don't want to get into debt or stuck in over draft.

What do you intend to do about it?

1. Inform people of more appropriate stuff to spend their money on.

2. Show the link between what students are spending their money on and what they could actually get for the same price.

3. Promote NUS/student cards as a way of achieving the above statement.

4. Research into students weekly spends, what they're buying. If they budget and how they could cut back e.g. a £3 sandwich could get you meat and a loaf of bread for seven lunches.

5. Create something that is accessible to students and something that is going to instigate change.

What do you hope to achieve by doing this?

I hope to create something that students believe to be accessible and something that is going to instigate some sort of change within their financial lifestyle. It should surprise/shock people what the could actually be getting for their money instead of being careless with it.

What do you already know about the problem? - 2012 Sodexo survey

1. 50% of students have changed their eating habits because of financial pressures and over two thirds eat less healthy as a result.

2. One in four students said they wouldn't have gone to uni if they were going to have to pay he proposed increased fees.

3. 30% of students expect to graduate with over £20,000 of debt.

4. 57% pay upto £20 a week on travel alone, this could be cut down.

5. 64% of students spend between £11-40 a week on food so the number of those living at home has increased to 18%.

What do you need to find out about the problem?

1. Where students could cut back on spends - look at money diaries.

2. Stuff that you could get for the same cost as unnecessary items.

3. What would make students interested in my product - selling point.

4. What kind of discounts you can get for being a student.

5. What is the best way to budget - how much should you be spending on each area.

Facts about your audience - recognise full range of qualities - don't stereotype.

1. Majority have never had this sort of independence with money.

2. Spend £11,000 on average per year.

3. Tehy are entitled to certain discounts through being a student.

4. Around 25% of students current have a part time job.

5. They are entitled to loans and grants to help pay for their course and accommodation.

6. Conceptually driven, like process.

7. Creative individuals.