How do I cope financially in my final year?

Providing I pass my exams this summer I'll begin my 3rd year of study in September.

I recently got sent my student finance figures for the forthcoming year, not realising they are reduced in the final year because we are technically only students until the following summer - however, this means that I am over £1000 short on my accommodation plus any additional living or leisure costs.

I attend a London university making the general cost of living much higher in the first place and I've calculated I am around £600 short per month (for the 9 months I'll be studying).

Despite some support from my parents, I do not expect them to be forking out such a massive amount - especially since I also have siblings who may want to attend uni in the near future. It's not fair to expect them to fund me.

I work nearly full-time hours and for that reason my studies are already suffering but I am left with no other option - yet, I am still struggling to keep my head above water.

Any advice or money saving tips would be greatly appreciated.

what are your food and leisure costs like (food is one thing you can make massive savings on)? do you have too much of anything that you could sell for example clothes? can you get your overdraft extended? do you have any bills? does your university have a hardship fund?

Food and leisure costs aren't horrendous - and I pretty much starve myself to keep them to a minimum. I work most of the time so often don't get the chance to go out anyway.

I've sold off all my jewellery second hand this year to cover bills in our shared student house. And I wil be working over the summer for a few months and not paying rent so hopefully I'll be able to pool savings for the first few months of uni.

Ideally, I don't want to push everything into my overdraft. Where would that leave me after uni?

I'll look into a hardship fund - although I'm not sure I'd be eligible.

Which supermarket do you shop at out of interest? Do you have any tech lying around? Usually your student account would swap to a graduate account giving you 2-3 years to pay it off, they'll gradually reduce the overdraft over that time.

I shop in a variety of supermarkets - only usually buy whatever I can find that's on offer!

In terms of banking, I only have a current account. Would there be any bonuses to opening a student account? It's something I've never really looked into.

I shop in a variety of supermarkets - only usually buy whatever I can find that's on offer!

In terms of banking, I only have a current account. Would there be any bonuses to opening a student account? It's something I've never really looked into.

Well, an overdraft could help in the short term assuming you feel confident you could clear it 3 years after graduation. I presume you already do but if you can swap to only value items for food that should make a little difference, honestly for some things you dont notice the taste difference.

Yes! Interest free overdrafts can be a short-term life saver

I'm always looking what's cheapest per 100g!

I'll give my bank a call and see if I can set up an overdraft on my current account, I have a feeling this year I'm going to need it.

Make sure its the student account you go for - otherwise its not the same overdraft! Which bank are you with? My Natwest account gives me £2000 interest free!

I currently bank with Co-op.

If I'm setting up a student bank account this year do you know if they'd treat it as a 1st year account? I'm just looking at comparisons on the web but the overdraft limits seem to increase with the age of the account.

Hmm thats a good question! The more money you have coming in or out and the age of your account can play big roles but i don't want to guess!

Whats the Co-op overdraft like?

I don't have an overdraft I don't think - since it's only a current account.

I shop in a variety of supermarkets - only usually buy whatever I can find that's on offer!

In terms of banking, I only have a current account. Would there be any bonuses to opening a student account? It's something I've never really looked into.

I'm always looking what's cheapest per 100g!

I'll give my bank a call and see if I can set up an overdraft on my current account, I have a feeling this year I'm going to need it.

Yes because you get more fabourable overdraft terms and then when you gradaute turn it into a graduate account. They will be more lenient with your overdraft and loans.

Start with hardship fund

Are you sure everything is correct with your finance? I know mine went down in final year a bit but £600 a month is a lot to be short, had you already miscalculated what you could afford?

Nope you need to get them to convert it into a student account becayse the interests will be wloer and the limit higher plys theres normally a small cash bonus of c £100.

Heres a good overview on student accounts
http://www.moneysavingexpert.com/students/Student-bank-account
There are also some tips on best account.

You may also want to take the advice of stepchange a charity who help people with their budgets. Normally debt, but they have an online planner. I cnat see yours and you sem to have one but it doesnt do any harm making sure its accurate and realistic.

Your degree has to have priority so you are looking for a short term way of borrowing just until summer when you cna start working.
http://www.stepchange.org/Contactus.aspx