Personal tools

Budgeting

The UK can be an expensive place to live, so it is helpful to keep a record of how much money you are spending, so that you do not get into financial difficulties. You will have fixed costs e.g. accommodation, tuition fees, insurance and variable costs, such as food, books and socialising expenses. It is a good idea to break down these costs into a weekly figure at an early stage, so that you can anticipate any difficulties and see where you may be able to cut back your expenditure. Don't forget to include your income - money from parents, money from a part-time job, scholarship or bank loan.

Here are some examples of what you may need to include:

Household-related:

Rent, gas, electricity and water bills, insurance, landline telephone and internet, TV licence, laundry, food, toiletries and household goods

Course-related:

Books, equipment costs, field-trips, binding (for dissertations etc.), printing/photocopying, tuition fees, stationary (pens, paper, printing cartridges etc.), visa renewal costs

Personal:

Mobile phone, postage costs, medicines, haircuts/beauty, clothing/accessories, childcare costs (if applicable)

Leisure:

Society/gym membership, socialising costs (drinks, entrance fees), purchase of electronic goods, travel in the UK/abroad/returning home, shipping costs

Transport:

Bus pass/rail pass, car running costs (petrol, tax, insurance, MOT), bicycle (and maintenance) costs. 

 

Some useful websites for further research are:

www.studentcalculator.org.uk/international/

http://www2.le.ac.uk/offices/ssds/welfare/finance/budgeting-1