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How do I plan a budget?

Knowing how much money you have coming in and going out will help you avoid overspending.

How much money do you have coming in?

Add up the all the money you receive, including your student loan and any money you get from part-time work, your parents or family.

How much money do you have going out?

Look at how much of your money goes on essentials such as rent, food and household bills. Then make a note of what you spend on things like travel, books, clothes, laundry and socialising.

If you can't see where all your money is going, try keeping a diary of everything you spend, noting every item and the cost.

How much is left over?

Once you know how much money you have coming in and going out, work out the difference. If you're spending more than you have coming in, it's time to make some tough decisions.

What does a sample budget look like?

Our sample budget for a first-year student (2017/18) might help you work out how to balance your money:

Incoming money (40 weeks) Outgoing money (40 weeks)
Tuition fee loan £9,250 Tuition fees £9,250
Maintenance loan £11,702
Accommodation (£138/week) £5,520
Part-time work (£100/week) £4,000 Household bills (£35/week) £1,400


Food and housekeeping £2,800
    Laundry £250
    Phone £500
    Books and equipment £500
    Travel
£500
    Visits home £300
    Entertainment £1,400
Total: £24,952 Total: £22,420

We've got an app for that!

There are several free budgeting apps available for both iOS and Android check out your app store for details.

Contact us

Student Life Advisers
Tel: +44 (0)20 8417 7312

Contact us

Student Life Advisers
Tel: +44 (0)20 8417 7312

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