When choosing a university, cost of living is likely to be a factor in your decision-making. Budgeting is about weighing up the money you have coming in, versus what you think you'll need to pay bills or rent. It can be quite a complicated process, so we've constructed a simple but realistic annual income and expenditure summary. This should help to make monitoring your finances easier.
A sample budget for 2018 entrants
|Tuition Fee Loan||9,250|
|Term time/vacation work||3,000|
|Electricity, gas, water||250|
|Food and drink||1,500|
|Books and course supplies||300|
|Clothes and shoes||600|
|Travel and transport||500|
|Sports and leisure||200|
|Holidays and presents||500|
In this example, we have assumed that you come from England and:
- are studying in England (but outside London);
- are not living at home;
- you have a tuition fee loan to cover tuition fees of £9,250;
- you receive a Maintenance Loan of £7,500.
We have not taken into account any bursaries or scholarships you may be eligible for.
Note, some rents for university accommodation can include bills or insurance, see our university profiles, 'living here' section.
Next page: Top tips to save money as a student