Gonna be broke next year

Im kind of starting to regret deciding to move with my current flatmates for next year. They're all worry warts and their parents barely miss the mark for the garauntor requirements in the places we've looked at so they all decided to just stick to student accom next year, which has gone up in price an insane amount. We all get max loan so our finance would comfortably cover our old rent of 140 a week plus food and a little extra cash. Now our rents gonna be 175 a week which is actually insane. Most of them arn't very financially responsible either so idk what they were thinking because even i cant stretch the spare 300 or so after the rents taken for my food and other things.

Yes I know I can just work part time but damn, with how the workloads gonna increase since we'll be in second year, we're kinda ****ed with how little time we'll have to balance work and studying.

Original post by Ch707

Im kind of starting to regret deciding to move with my current flatmates for next year. They're all worry warts and their parents barely miss the mark for the garauntor requirements in the places we've looked at so they all decided to just stick to student accom next year, which has gone up in price an insane amount. We all get max loan so our finance would comfortably cover our old rent of 140 a week plus food and a little extra cash. Now our rents gonna be 175 a week which is actually insane. Most of them arn't very financially responsible either so idk what they were thinking because even i cant stretch the spare 300 or so after the rents taken for my food and other things.

Yes I know I can just work part time but damn, with how the workloads gonna increase since we'll be in second year, we're kinda ****ed with how little time we'll have to balance work and studying.

Hi @Ch707 ,

I am sorry to hear that.

Have you spoken to the university about financial help you are entitled to or aid that could be given from them?

There may be some bursaries or emergency funding as well as this I would see if you can talk to your student union to find out exactly what support and services are available to you next year to help financially.

In terms of saving money and being social, it might help to look up and make a list of things that you can do with friends that are cheap/free in your local area or things you can do indoors that are low cost with friends such as a paint and sip evening or powerpoint night! When the weather starts to become better you can suggest spending more time outdoors doing picnics to save money on eating out.

There are some jobs you can get with the university as well such as an ambassador to help bring in extra money and that is flexible so it can fit around your second year which workload wise tends to be a bit heavier than first year. Jobs with the university I find are more suitable if you can afford to not need a consistent income every month.

I hope this helps and good luck.

Alia
University of Kent Student Rep

Original post by Ch707

Im kind of starting to regret deciding to move with my current flatmates for next year. They're all worry warts and their parents barely miss the mark for the garauntor requirements in the places we've looked at so they all decided to just stick to student accom next year, which has gone up in price an insane amount. We all get max loan so our finance would comfortably cover our old rent of 140 a week plus food and a little extra cash. Now our rents gonna be 175 a week which is actually insane. Most of them arn't very financially responsible either so idk what they were thinking because even i cant stretch the spare 300 or so after the rents taken for my food and other things.

Yes I know I can just work part time but damn, with how the workloads gonna increase since we'll be in second year, we're kinda ****ed with how little time we'll have to balance work and studying.

Hi @Ch707 ,

I'm sorry to hear about your situation. It can be very stressful worrying about money at Uni.

I would say, as others have said, to look into whether you would be eligible for a bursary of any kind to help you with this. A lot of people don't know about the different bursary/funding options available at University and there are lots of things that can make you eligible to receive funding of some kind. So definitely look into this as this would help your financial situation.

I decided to stay in student accommodation for my second year too and it is a lot more expensive! So it is definitely harder to budget as you will have less money than last year which can make it tricky. It's a great idea to try and suggest low cost activities so that you can still do fun things with your friends but you are also saving money at the same time. Having nights in or doing a cheap activity will help everyone to have a bit more money saved aside.

Again, as has been suggested, I would say to try and look for student ambassador jobs if you can. At Hallam, it's very flexible and you just pick the shifts that you can do and that fit around your workload. Ultimately, your studies come first so they tend to be very accommodating jobs. And this way you can earn a bit of extra money when you need it, without compromising your work.

I hope some of this helps,
Lucy -SHU student ambassador.

Reply 3

University of Huddersfield

Official Rep

16

Original post by Ch707

Im kind of starting to regret deciding to move with my current flatmates for next year. They're all worry warts and their parents barely miss the mark for the garauntor requirements in the places we've looked at so they all decided to just stick to student accom next year, which has gone up in price an insane amount. We all get max loan so our finance would comfortably cover our old rent of 140 a week plus food and a little extra cash. Now our rents gonna be 175 a week which is actually insane. Most of them arn't very financially responsible either so idk what they were thinking because even i cant stretch the spare 300 or so after the rents taken for my food and other things.

Yes I know I can just work part time but damn, with how the workloads gonna increase since we'll be in second year, we're kinda ****ed with how little time we'll have to balance work and studying.

@Ch707

If you can get a summer job, then hopefully you can save enough to help with some of your costs next year and might be able to continue with it during term-time/holidays.

You might also like to think about ways you can cut costs e.g. ending some of your direct debits, buying supermarket brands rather than big food brands, sharing the cost of meals with your housemates (it's cheaper to cook in bulk), eating less takeaways, drinking less coffee etc.

Hope that helps,

Oluwatosin – 3rd year student – University of Huddersfield

Gonna be broke next year

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