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How much money do I need a week at Uni?

This is going to be my first year at Uni and I'm completely new to the whole managing money thing and basically I have no idea how much I'm going to need on a average week...

My University course fees are covered by student finance.
My accommodation fees are covered.

I need to know how much I would roughly spend:
1. On a average week
2. On a average month

Thanks to all that reply
Kolia

Reply 1

claireestelle

22

Original post by mikkolia

This is going to be my first year at Uni and I'm completely new to the whole managing money thing and basically I have no idea how much I'm going to need on a average week...

My University course fees are covered by student finance.
My accommodation fees are covered.

I need to know how much I would roughly spend:
1. On a average week
2. On a average month

Thanks to all that reply
Kolia

That depends how much you intend on going out, food can be as cheap as you make it but between £25-£40 is a reasonable guess.

Reply 2

mikkolia

OP

9

Original post by claireestelle

That depends how much you intend on going out, food can be as cheap as you make it but between £25-£40 is a reasonable guess.

Okay besides food how much would you usually spend on an average week?

Thanks
Kolia

Reply 3

claireestelle

22

Original post by mikkolia

Okay besides food how much would you usually spend on an average week?

Thanks
Kolia

Well I didn't drink at uni so about £50-60 after rent.

Reply 4

mikkolia

OP

9

Original post by claireestelle

Well I didn't drink at uni so about £50-60 after rent.

Sorry but I'm just making sure...
So you're saying you spend £50 to £60 without rent a week?
Plus the £25 for food...
So... in total you spend about £100 a week not including rent...
What do you spend it on?

P.S. I intend to go out often but I don't drink.

Thanks again
Kolia

Reply 5

claireestelle

22

Original post by mikkolia

Sorry but I'm just making sure...
So you're saying you spend £50 to £60 without rent a week?
Plus the £25 for food...
So... in total you spend about £100 a week not including rent...
What do you spend it on?

P.S. I intend to go out often but I don't drink.

Thanks again
Kolia

No sorry I m saying I spent £50-60 including food. If you re a going out person if you re not careful it will be much worse than that.

Reply 6

mikkolia

OP

9

Original post by claireestelle

No sorry I m saying I spent £50-60 including food. If you re a going out person if you re not careful it will be much worse than that.

Mb

Thanks
Kolia

Reply 7

Rakas21

21

Original post by mikkolia

This is going to be my first year at Uni and I'm completely new to the whole managing money thing and basically I have no idea how much I'm going to need on a average week...

My University course fees are covered by student finance.
My accommodation fees are covered.

I need to know how much I would roughly spend:
1. On a average week
2. On a average month

Thanks to all that reply
Kolia

Assuming bills are included in your accomodation then all you need per month is money for direct debits (gym, phone), transport, food, toiletries and then spending money.

My own budget post-uni is (per month)...

£50 - Direct Debits
£20 - Toiletries (a lot can be bought from a pound shop but washing powder plus decent deodorant and hair product take up about half)
£80 - Food (Buy a months worth of breakfast and lunch and then all you have to is worry about bread, milk and your main meals).
£120 - Transport (your cost is likely to be substantially less, try buy a termly pass to reduce costs further)
£100 - General spending (cinema, coffee, a night out or two)

Where your costs are less simply adjust the amount but that should give you a reasonable standard of living.

Also get a part time job. Even if you only work 10 hours per week you'll be able to more or less have £200 per month extra to play with.

Reply 8

Tiger Rag

22

You'll need to budget for travelling home, however often you wish to go home. I walked most places; so didn't have huge costs in terms of transport.

Reply 9

Devify

19

Depends on how well you manage it. Just for food and general things every now and then, just about £30 a week. Maybe £50 if you go out and things like that. And you can live from less if you really try and do shopping with flatmates.
That's around £130 - £220 a month

For other costs it depends on you. For me there are no travel costs and I don't really buy clothes often so it only costs like £5 a month if you spread out the costs. Most toiletries don't need to be bought more than once every couple of months so again, maybe £5 a month if not less.

(edited 7 years ago)

Reply 10

Tiger Rag

22

I'd also put some money aside for emergencies and deposit for next years house.

Reply 11

doodle_333

19

when I did my budget I took out any yearly/monthly costs first so - accommodation, phone bill/any other subscriptions e.g. netflix, money to travel home, an emergency budget, clothes, hobbies, a chunk for freshers spending, any travel cards you need etc

once you've taken that out 40-80 a week is fine depending on your lifestyle (i.e. do you drink, do you like to go out a lot etc)