UNI TIPS & ADVICE: Budgeting

Sunday, August 28, 2016

The biggest stigma attached to uni students is that they live of pasta with no money in their account. While that can be true for a small majority it is not the case for everyone as from my experience I have always been able to afford the neccessities like food. 

When you know you have been accepted to uni it is time to set up a student bank account. I am with Natwest as it was easy to switch my existing account with them,  they are good as they give you a coachcard for discounted coach travel. Another and the most popular for students is Santander as they offer a free rail card for three years so I highly recommend choosing them. Once you have set up your bank account then you should make sure that all your student loan is being paid into that account.

So thats all the admin type stuff out the way, now you need to work out what you have to spend your loan on, sadly its not all Topshop shopping sprees. If you are staying in halls then it is likely that your rent will come out termly just when your loan comes in. So if you take them off then you will have a figure to spend every time for food, night outs, clothes and anything else really. It is a good idea to see how many weeks there are in the term and divide the amount you have by that so this gives you an idea of what you can spend every week.

Budgeting you probably think is easy but it is actually very hard as you cant really plan what you are going to be doing each week. But if you know theres going to be a night out then set an amount to take out that night and hopefully come home with change. When food shopping go to lidl and aldi as you can get just as good food there as you would anyone else but a lot cheaper. Even though you might not have a lot to live off in you are like me then I would say don't miss out on things because you might not be able to afford it, if you have the money spare that week and don't need it for anything else than go. 

For me I did have a job while at uni as I wouldn't be able to survive without it, likewise I have also worked a lot over the summer so I could build back up my savings. So the key thing to do is save as much as you can during the holidays and if you are really struggling then look for a job as then least you can treat yourself a bit more then too. 

You Might Also Like



If you would like to contact me for any reason whether that is a business opportunity, information or just a chat feel free to email: soniahussain11@gmail.com.