What to do when your uni budget doesn't add up

Whether the estimated costs you’ve been given by your first go at the calculator feel overwhelming or you’re worried you can’t afford your chosen uni, there are steps you can take to get back on track and build a budget that works for you. 

Opportunities not barriers 

If the numbers seem higher than you expected, don’t panic, this is not a barrier to you going to the uni of your choice. This is your chance to explore your options and create a realistic financial plan. 

Our cost of living calculator is a great tool, but it’s not the final word on your budget. Think of it as a guide to help you understand the potential costs of university life. Your final expenses will depend on personal choices, circumstances, and even some unexpected opportunities. 

Review and refine  

Double-check your data 

The results you get are only as accurate as the information you put in. Start by reviewing the details you entered: 

• Did you select the correct accommodation type? 
• Have you included travel costs to and from uni, as well as local transport? 
• Did you account for occasional costs like books, clothing, and social activities? 

Even small adjustments can make a big difference, so take the time to ensure everything is accurate. 

Be flexible 

As well as comparing costs between universities, cities, or even different accommodation options, you can use the calculator experiment with different possibilities and scenarios. 

See how living at home versus moving away impacts your budget. 

You can also adjust expenses like food, subscriptions, or travel costs to see where you can save. 

This process will help you better understand your financial needs and priorities. 

Look closer at financial support 

Investigate your funding options 

If your results show a deficit – a gap between your budget and expected costs – it’s time to look further into funding opportunities. In the UK, there are plenty of options to explore: 

Student Loans: Check your eligibility for maintenance loans through Student Finance. 

Grants and Bursaries: Many universities offer non-repayable support for students from low-income backgrounds or with specific needs. 

Scholarships: Research scholarships related to your course, interests, or achievements. 

Our website, and our sister site Whatuni, can help you find funding opportunities tailored to your situation. 

Consider part-time work 

A part-time job can be a great way to boost your income while gaining valuable experience. Look for roles that fit around your studies, like working in retail, hospitality, or on campus. Even a few hours a week can make a significant difference to your budget. 

Adjust your expectations and seek advice 

If the calculator results still feel daunting, consider rethinking your spending habits. Here are some practical tips: 

• Cut costs where you can: Cook meals at home, buy second-hand textbooks, and take advantage of student discounts. 
• Talk to your family: Discuss how they might be able to support you, even in small ways. 
• Seek professional advice: Many universities have student finance advisors who can help you navigate budgeting and funding. 

The art of budgeting 

The calculator isn’t just a tool you can use once—it’s a steppingstone to lifelong financial skills.  

Before you start uni you can use it to work out how much you need and what spending you can cut to get the best out of university life. You can use it throughout your university journey too, as circumstances change you can budget for rent, factor in wages from jobs, and more.  

• Track your expenses: Keep a record of what you spend to spot patterns and adjust as needed. 
• Prepare for the unexpected: Set aside a small amount each month for emergencies. 
• Use technology: Online banking apps like Monzo or Wise can complement the calculator and make tracking your finances easier. 

Find support when you need it

It’s important to remember that you’re not facing these challenges alone. Reach out to the resources available to you, including: 

• University support services: Most universities offer financial guidance and emergency funding. 
• Online communities: Forums and student groups can provide advice and shared experiences. 
• Friends and family: Don’t hesitate to lean on your personal support network. 

Take control of your finances today 

Managing university finances might seem overwhelming, but with the right tools and mindset, you can turn your calculator results into a plan for success. Use the insights you’ve gained to refine your budget, explore funding opportunities, and develop lifelong financial skills. 

Your university journey is about growth and discovery—both academically and personally. Taking charge of your finances now will set you up for a smoother, more confident experience. 

Start refining your budget today and step into uni life with a plan that works for you! 

Student Cost of Living Calculator

Use our Student Cost of Living Calculator to discover how much your monthly costs would be studying in different regions and universities around the UK.

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