Budgeting Tips

Budgeting Tips

Learning to budget is a big part of student life. Typically, student finance loan goes into your bank account three times a year and at the time you might feel rich, until your rent comes out and you realise you don’t get any more payments for another three months!

When budgeting you should consider the following:

  • Rent
  • Food
  • Internet (if not included)
  • Phone Bills
  • Streaming services such as Netflix, Spotify and Now TV
  • TV license
  • Toiletries
  • Books


Top tips for budgeting:

  1. Create a spread sheet with outgoings such as rent, food bills ect and calculate the disposable income and make a weekly expenditure budget from that.
  2. Withdraw cash each week for food and leave your debit card at home
  3. Keep receipts and document what you spend your money on, it’s easy to overspend when you don’t even realise it!

There are also many apps and tools on the internet designed to help you budget such as the UCAS Budget Calculator



Food is a big part of our lives, we form friendships through eating out and cooking meals. Food can become very expensive, so here are a few tips:

  • Only buy what you need, those BOGOF deals can be really tempting, but can you eat it all before it goes off, is it freezer friendly?
  • Shop around, there are many cheaper alternatives to the brand names, and they taste just as good!
  • Team up with your flat mates and book a taxi to cut the costs of travel and go to a larger store, these tend to be cheaper than the corner shops.
  • Stock up on cupboard and freezer food, you never know when you’ll be stuck for cash, these staples can be a life saver!
  • Make your own lunch, those lunch time meal deals soon add up!
  • Make a large batch of food and freeze it for future meals, you’ll thank yourself when your rushed off your feet with deadlines.


Things to consider:

  • Saving up for a deposit on a house
  • Going on holiday
  • Buying a new car