How much are you saving for uni?

I finished my A Levels a few weeks ago and I am heading to uni in September. I have been saving for roughly 6 months, and at one point had £945 in there. However because of my A Levels I had to take time off work as I had no holiday left, so I had to use my savings for driving lessons, festival tickets etc. Now I have about £700.

I only have about 6 weeks until I need to quit my job, in order to go to the Leeds festival and then have a week or so off so I can prepare for uni and buy all the stuff I need.

However, I am not sure if I am gonna be able to get to £1000 with the limited time I have left. I have been working part time in a shop for the past 18 months and I always assumed when I finished my A Levels I would just get a full time job, however MANY people are finiding it difficult to do this in my area so I opted for taking on extra hours at work. However they are proving elusive to obtain, I keep asking my boss and he always says its no problem but because we havent worked together since I asked nothing seems to have been sorted. I am just panicking that I will not be able to save enough...it should be noted I will not be getting any help from my parents whatsoever (long story, dont ask)

I failed my 2nd driving test last week and my theory runs out in Feb 05, so I am desperate to pass my test before I go to uni. Trouble is, it is so bloody expensive I am not sure whether to continue learning and paying for one last test (which will cost around £200 altogether).

So I was just wandering how everyone else is finiding saving, and can any people at uni advise how much I will need to save up? (this is mainly for stuff I need to buy BEFORE I go, not to fund my first year)

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Reply 1

mR_CaRL

Good question, my current bank status isnt great lol

I have worked alot this summer but spent just as much on socialising, presents etc. Personally, I am going to Uni with roughly £0 saved up. But then i will be working 3 days a week (should pocket at least £100 a week), plus a £3500 student loan and a £2000 ISA to fall back on.

Reply 2

sarah1987

Wow - £700 saved!! I haven't saved a penny, and my mum won't be able to give me money. I figured that loan + grant + overdraft + part time job would see me through. Can you not do some practise in your parent's car? Would save money and help you get enough practise in time to pass your test.

I know what you mean about work, I work at Morrisons and we are quite overstaffed at the moment, so I'm not allowed to increase my hours from my 12.5 a week that fitted into going to school. I only wanted a couple more hours here and there but no luck. I'm considering finding a new job! Anyway, any money I do save will go on having fun at Leeds fest!

Reply 3

hallucination

I've saved about £5k but I have been working full time since January.

Reply 4

purplecrayon

ive decide im not to worried bout saving anymore, i used the online calculator on the student fianance website to calculate my loan and it will be roughly £4100 and il get help with fees of £1175 ( thank you dependant children in the house :P )

I think il just go for the credit card and an overdraft, i hope to earn the money to pay my first term accomadtion ( £1100 ) but overtime at my work has to be split between me and this other guy who is also saving to go to uni this september so my £200+ per week has dropped to £100+ :frown:

Reply 5

fabulous_darling

Um.. we're supposed to be saving? Oopsie.

At the moment I'm just concentrating on having a great summer. When I'm at university I'll probably get a part time job to tide me over if I need it. But really, I can't see the point of slogging your guts out in the few months before university - it's a last chance to have a fab time doing absolutely nothing apart from having a wondermous time with friends and family. Sure get a part time job which takes up a few hours a week during the summer, but a full time job?! Pfft!

I may come to regret this over the next year, but hey ho, at least I'll have some great memories of my last proper summer at home before all of my friends go off in their different directions.

Reply 6

djk_99

I have saved about £800, which should remain about that. I am going to do my normal work hours during the holidays, and use the rest of the time to enjoy myself! So I will probably just spend the money I earn. I get my fees paid for me, have a student loan, and I plan on that seeing me through. I will probably get a part time job at uni for the first year at least. But Im not worrying about money, if I get through my student loan too quickly, then I will use money saved up, if I get through that I will beg money off of my parents.
Student loans were designed to fit how much people spend at uni anyway, so Im planning on relying on that, as most people are. As long as you are sensible with money, you shouldnt need to worry about getting into too much excess debt (aside from the normal amount of course!)

Reply 7

mousey

I'm not going to have much saved either. I'll work part time at uni and my parents are giving me 50 a week, so that should be plenty. I want a little bit saved before i go, so i can really enjoy fresher's Week and hopefully that money will tide me over until i find a job, although i'm trying to get one as we speak. xx

Reply 8

worried_mess

sarah1987

Woah thats weird, I work there too and I am going Leeds festival.

Anyway, my parents have an automatic so its not gonna be that useful, and to get insured would cost a ridiculous amount just to have some practise here and there.

Reply 9

worried_mess

And for the people saying there is no need to etc- I am sure your parents will be there before you go and buy you some stuff (pots/pans/clothes etc).

I need to buy absolutely EVERYTHING myself, which includes a new computer. I wont get any help from them at all, plus they have a large income so I am getting the minumum loan amount.

Reply 10

Beekeeper

I've saved nothing... But i've got a PT Job now, so hope to scramble together about £900-1000 :smile:

Reply 11

Farid Daim

I've got a part time job this holiday, but for a totally different reason.

Reply 12

TKR

Well from my birthday I have around £1800 and I'm getting another £1000 when I go from my parents I think. That plus minimum loan less first year's accomodation less first year's tuition is... *calculates* about a grand for living (books, drinking, clothes etc. my accom is catered). Hope to work at least 4 days a wekk or somehting in Augusy and Septemeber but only to cover my living expenses in those months and to buy clothes and things for going up to the chilly North!

EDIT: I will probably get a part time job when I start and se how that goes, if I don't find I need that sort of money I'll quit it...

Reply 13

Evil Muffin

I know someone who spent £5,000 just for social life in her first year. Don't go out drinking every night kids! Saying that, I had nothing saved but well done if you do, it will really help.

Reply 14

emom100

each year ive tried to get a minimum of £1000 from the summer and then top that up with a couple of hundred quid at xmas and easter. first year i didn't work or touch my overdraft but this year i'm totally broke. try and work as much as possible in the summer because it is crap having to work at uni. i had two smal lpart time jobs but for both of them i onoy ever really worked every 2-3 weeks. if youve got a heavy timetable you can't rely on getting a job there and passing your exams

Reply 15

mousey

I think i will be ok with getting a job and balancing uni stuff. I'm planning on 10-15 hours a week with a job, and i hardly have any lectures at uni because i'm doing English. xx

Reply 16

Onearmedbandit

I've worked for a year and hopefully will start uni with about £10,000 in total...

Reply 17

racheld1985

i will have pretty much nothing - been doing a course in my gap year that has pretty much cleared me out. i dont finish til a month before uni so hoping to get some work then, plus part-time job in term-time....parents will probably need to help out though

Reply 18

u2o_uk

i have about £2400 saved in my savings accounts (Savings and ISA), im expecting to have saved around £2800 by the time i reach the uni.

i, too, wont have parents to buy my stuff for the uni although my dad did get me a very nice laptop which I initally planned to buy myself so its a nice bonus.

oh actually it'll be around £2600 savings for uni, i'll probably have to spend about £200 to hire a van plus petrol to move to the uni.

Reply 19

Apricot Fairy

I hope to have about £6,000 saved up from working in my gap year. I could and should have saved much more, but I've been really bad with my money. I've currently got £4,000 in my savings account and will have another 3 months wages before I go, which is about £3,500 net, plus the Inland Revenue owe me about £600 in overpaid taxes. I also have £400 in another savings account somewhere. So I guess if I'm very frugal between now and October I might be able to save a bit more than £6,000, but it's unlikely, knowing me!