Starting university is an exciting, yet daunting time for students. Whether you’re living at home, in halls or with a group of friends, a new experience brings with it new responsibilities like budgeting your money!
Although undergraduates can apply for a ‘student loan’, you should definitely check to see if you qualify for a maintenance loan, which could certainly assist with buying essentials. Depending on your family’s income you could receive a non-repayable sum of up to £3,475!
You should also calculate the costs of accommodation, bills, food shopping etcetera; then you will have a rough guide of how much you can spend on yourself each week! Us students will admit that we tend to spend money (that we don’t necessarily have), on things like alcohol, clothes and going out, but be careful! Getting into debt or not paying your rent can cause serious complications; you don’t want a hefty fine waiting for you at the end of the year!
If you’re really struggling financially, get a part time job. It will look great on your CV and give you the extra cash to enjoy social time with friends too! If you’re worried about anything, speak to your University finance team they should be able to offer support and advice.
Of course having fun at Uni is vital, but being sensible with your money, can save you the stress… and a few extra pennies too!
Words: Raeanna Harward
