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Can someone help me understand my finance form?

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  1. Offline

    Hey, sorry guys, i know you must hear this all the time, but i really don't understand my finance form.. I just opened it up and i just can't understand it. maybe i'm expecting it to be more complicated than it really is? Basically, i just need to be able to work out my weekly budget etc from it, but i don't know what to include.

    If i post all the different amounts for you would someone be able to help?
  2. Offline

    Ok, here's all my maintenance loan bits and bobs..

    Basic loan [non-income assessed] = £3385
    Plus loan subject to income assessment = £1204
    Less loan substituted for grant* = £761

    Loan to be paid = £3828

    Assembly Learning Grant = £761

    I'm so confused
  3. Offline

    Post the amounts, and expected expenses - if you have confirmed rents or anything, i'll try and help.
  4. Offline

    Thanks Kirsty should i try and find out how much my accomodation is a year? That would help i suppose..
  5. Offline

    (Original post by Jozeesh)
    Ok, here's all my maintenance loan bits and bobs..

    Basic loan [non-income assessed] = £3385
    Plus loan subject to income assessment = £1204
    Less loan substituted for grant* = £761

    Loan to be paid = £3828

    Assembly Learning Grant = £761

    I'm so confused
    Your getting £3828 as a loan - that will be from the student loan compnay. They usually pay this in 3 payments - and you won't find out the actually amounts you get paid at a time until about 3 weeks before term starts.

    And the grant is free money... i assume that is split into a payment per term...
  6. Offline

    You can't work out too much till you get actual payment schedules e.g. What gets paid, and on which dates for example.
  7. Offline

    Ok, the total fee is £2,150, in 3 instalments of £716.66. Do you need me to find anything else?
  8. Offline

    Ah ok. So, do you think the maintenance loan and grant are a reasonable amount or will i struggle? I just don't know whether it's good or bad..
  9. Offline

    you've got plenty left over - should be fine. Will you be getting extra sources of income from parents or anything like that?
  10. Offline

    Putting it simply - With the loan and bursary, minus the accommodation you have £2439 left. This is about £271 a month based on 9 months - average term time. this is plenty - i live on about £60-100 a month - so you will be fine. Obviously if you have expenses such as phone bills, electric, internet, gas.. you'll be spending more than i do. I have relatively cheap food tastes too!
  11. Offline

    Ah that sounds great, i wasn't expecting to have as much as that :p: Thanks a lot, rep for you [even though it's not worth much.. ]
  12. Offline

    don't go crazy though - like i say you'll have lots of small expenses which add up to give a huge big debt if your not careful.

    I keep track of my finances in Excel - i put in what i have, and write down what i'm expecting to spend each month - that way i always know what i have left to spend.
  13. Offline

    No i'll be fine, i'm usually really good with my money. Hopefully i can budget really well so i don't have to work loads of hours a week too. :p:
  14. Offline

    I don't work - and i manage. It is just about being knowledgeable - knowing what you have to spend, trying not to use an overdraft or credit card unless its absolutely necessary.. quite simple really.
  15. Offline

    Yeah, i hope i'll be ok. Thanks for the help


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