Budgeting, Student Finance, How Much Will It Cost?

A common worry amongst students applying for university is finance and money troubles. It’s recently changed so that you will no longer receive a grant but a larger loan to cover your day-to-day living. But if you’re prepared and have some idea of what money you should be receiving from Student Finance (if you’re applying that is!) then it might be a good idea to take a few precautions – just in case!

One of the things that I found the most useful was buying all of your new furniture/items while you’re still at home. Your parents might help you out and it’s a lot easier to find bargains because you don’t need to arrive at university, realise you’ve forgotten something and then rush out and buy something in a panic when you could have bought it for less somewhere else.

Something else that was beneficial was having a summer job – not everyone will want one and also, not everyone will be able to find one! If you don’t want to work and would like to enjoy your time off before starting university it’s perfectly acceptable! If you find a job though then that is perfect – try saving as much money and put it somewhere so that you can’t spend it all at one (or if you trust yourself unlike me, keep it in your account).

When you get to university, you’ll realise that after fresher’s week when you buy everyone a shot, or after the takeaway that everyone seems to have all the time, your money is going to run out soon enough.┬áIf this is the case, try working out a budget. See how much your weekly bills are and try to work out extra expenses – take into consideration food, clothes, haircuts, phone, laptop, medicine, travel, alcohol and nights out… it can all add up quickly! Once you have worked out that amount, try to see how much finance you can survive on per week – hopefully it is enough to cover your bills and essentials, but if not then it would be a good idea to find a part time job.

Best of luck with budgeting – it can be tricky as I have found out myself!

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