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How much should I be living off per week? My student loan isn't enough Watch

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    I'm a first year and am a bit worried about my financials. At the beginning of term, when accommodation was paid I had around £1000 to live off for the year, which works out at £28 per week. In the first term I spent about half of this, (and lived off of birthday money, money from my summer job as well as parents buying me food...) and now I'm left with about £500 to last my the remaining two terms.

    I really don't know how I'm going to do it considering I have £100 worth of course books to buy and no other source of income. Is it unfair to ask my parents to help me out? I'm going to try to get a job this term but there's no guarantee I'll be able to...

    please help! x
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    (Original post by thefairyqueen)
    I'm a first year and am a bit worried about my financials. At the beginning of term, when accommodation was paid I had around £1000 to live off for the year, which works out at £28 per week. In the first term I spent about half of this, (and lived off of birthday money, money from my summer job as well as parents buying me food...) and now I'm left with about £500 to last my the remaining two terms.

    I really don't know how I'm going to do it considering I have £100 worth of course books to buy and no other source of income. Is it unfair to ask my parents to help me out? I'm going to try to get a job this term but there's no guarantee I'll be able to...

    please help! x
    At my uni all our loans etc. were payed at the start of each term, not all at once at the start of the year? Are you sure that's not the same for you too? x
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    Spend what you want and enjoy uni as much as possible.
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    (Original post by proud nd luvin it)
    At my uni all our loans etc. were payed at the start of each term, not all at once at the start of the year? Are you sure that's not the same for you too? x
    No it is the same for me, but these are the figures I've worked out - if I take away the accomm fee (for the year) from the loan (for the year), it's £1000 (which is the figure I've had in my head that I have to live off) - I'm actually in my overdraft atm!
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    (Original post by thefairyqueen)
    I'm a first year and am a bit worried about my financials. At the beginning of term, when accommodation was paid I had around £1000 to live off for the year, which works out at £28 per week. In the first term I spent about half of this, (and lived off of birthday money, money from my summer job as well as parents buying me food...) and now I'm left with about £500 to last my the remaining two terms.

    I really don't know how I'm going to do it considering I have £100 worth of course books to buy and no other source of income. Is it unfair to ask my parents to help me out? I'm going to try to get a job this term but there's no guarantee I'll be able to...

    please help! x
    I would talk to the finance department at your uni, and look into applying for a hardship fund, also if you need help in budgeting they can help with that too.
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    Overdraft, loan, job, cut back on spending. I ended up living off £10 a week by the end of first year. It was miserable, but entirely possible.
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    Saw this and saw no one had replied so thought I'd give you a few bits of advice I found useful at university. I completely understand as I was always broke at university!

    First of all see if you can get your books for any cheaper through second hand book shops, eBay or Amazon. There are lots of sellers on eBay or Amazon selling books for much cheaper so don't buy them brand new unless you have to.

    Next work out exactly how much you have for the next two terms, how much you can spend a week and take out exactly this amount every week and spend your money in cash rather than putting things on a debit / credit card. Spending in cash makes you think twice about what you're buying, especially on non-essentials such as random cups of coffee or packets of chewing gum.

    You could ask your parents to help if you think they are able to afford to but don't assume they will be able to. I hated having to ask mine for money during university but once I actually got over the embarrassment of asking them to help me they were more than willing to.

    If you're really that broke going out, entertainment and any other expensive habits, like smoking will have to go out the window until you can afford it. I don't smoke so that probably sounds a bit preachy because I know it's not as easy as that but I do like going out so when I was broke I just stopped going out and focussed on my studies. Also if you're asking your parents for money they will be really annoyed if you end up spending it on going out rather than actually necessities like food and electricity, so don't ask for anymore than you need.

    Apply for any and every job going - don't be too picky! Quite often your Student Union will have jobs or on the university website which are a great place to start, earn extra income and maybe meet some new friends. Some of the job opportunities might not be too desirable such as cleaners or working in the library but a job's a job! Ask friends to keep an eye out for any job openings for you.

    Another thing to maybe consider is if your degree is a subject that is taught at GCSE or A Level you could consider being a personal tutor. It pays much better than most part time jobs and would actually look good on your CV for future employment. Having no experience you won't be able to command as high fees as professional tutors but you could easily earn between £8 and £10 an hour for GCSE or £10 to £12 an hour for A level. You would have to take it seriously and read up on the exam specifications, etc, but it's something worth thinking about.
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    (Original post by motoe)
    Saw this and saw no one had replied so thought I'd give you a few bits of advice I found useful at university. I completely understand as I was always broke at university!

    First of all see if you can get your books for any cheaper through second hand book shops, eBay or Amazon. There are lots of sellers on eBay or Amazon selling books for much cheaper so don't buy them brand new unless you have to.

    Next work out exactly how much you have for the next two terms, how much you can spend a week and take out exactly this amount every week and spend your money in cash rather than putting things on a debit / credit card. Spending in cash makes you think twice about what you're buying, especially on non-essentials such as random cups of coffee or packets of chewing gum.

    You could ask your parents to help if you think they are able to afford to but don't assume they will be able to. I hated having to ask mine for money during university but once I actually got over the embarrassment of asking them to help me they were more than willing to.

    If you're really that broke going out, entertainment and any other expensive habits, like smoking will have to go out the window until you can afford it. I don't smoke so that probably sounds a bit preachy because I know it's not as easy as that but I do like going out so when I was broke I just stopped going out and focussed on my studies. Also if you're asking your parents for money they will be really annoyed if you end up spending it on going out rather than actually necessities like food and electricity, so don't ask for anymore than you need.

    Apply for any and every job going - don't be too picky! Quite often your Student Union will have jobs or on the university website which are a great place to start, earn extra income and maybe meet some new friends. Some of the job opportunities might not be too desirable such as cleaners or working in the library but a job's a job! Ask friends to keep an eye out for any job openings for you.

    Another thing to maybe consider is if your degree is a subject that is taught at GCSE or A Level you could consider being a personal tutor. It pays much better than most part time jobs and would actually look good on your CV for future employment. Having no experience you won't be able to command as high fees as professional tutors but you could easily earn between £8 and £10 an hour for GCSE or £10 to £12 an hour for A level. You would have to take it seriously and read up on the exam specifications, etc, but it's something worth thinking about.

    Thanks for taking the time to reply - your message has been really helpful! Some really good points for me to consider, especially the tips about using cash rather than card, and thinking about tutoring for money. Makes me feel a lot more positive so thanks!
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    (Original post by motoe)
    First of all see if you can get your books for any cheaper through second hand book shops, eBay or Amazon. There are lots of sellers on eBay or Amazon selling books for much cheaper so don't buy them brand new unless you have to.
    There might be something at uni where the second and third years sell their books to students in the years below them too.

    I second the cash thing too. By the end of the month or so, you may find that you end with a large amount of change, which will come in useful.
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    I managed spending £10 in November so even that's doable - 11p noodles aren't the best tasting things ever though


    This was posted from The Student Room's iPhone/iPad App
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    (Original post by youmad)
    Spend what you want and enjoy uni as much as possible.
    The spend the rest of the year starving to death
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    (Original post by Abstraxshun)
    I managed spending £10 in November so even that's doable - 11p noodles aren't the best tasting things ever though


    This was posted from The Student Room's iPhone/iPad App
    Pro.

    £9.90 for 90 packets.

    10p left for a small Maoam packet?
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    One of my flatmates borrowed £20 during freshers' before my grant came through and did not pay me back as promised, I lived off of £5.32 for 9 days and didn't miss a meal. We decided we'd take turns to buy margarine, milk etc. and that it would be my turn the 3rd week. So I bought 2 loaves of bread from Tesco for £1 (about 35-40 slices total) and had a lot of toast, I also bought some 'M-Savers' cup a soups which cost 20p-30p for four sachets, I got 2 kilos of rice from lidl for £1 and some 'M-Savers' veg for £1, I cooked the rice and some veg, mixed in half a sachet to a sachet of soup powder and that was a meal. I bought a garlic baguette from Morrisons for 30p and had 2 slices at a time with rice and veg. Also Tesco Everyday value soups with bread.
    Basically I averaged about 12p a meal, and was left with almost £2 because I had no idea when my grant would come through and some food left in the cupboards, also pepper is your friend, especially when you're essentially eating minor variations of the same 2-3 meals over and over again.
    It's doable quite easily, but don't even look at things out of your price range, because one ready made sandwich costs about the same as 10 meals..........:eek:
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    Learn to curtail your unnecessary expenses.. never go for debt and find cheaper things which you can afford to and use longer. site like ebay.co.uk , gumtree and aditter.co.uk can help you find cheaper and old books. I think asking for help from parents is much better option than going on debt and subsequently struggle more to repay it considering the overall job situation in the country.
    Be wise in your spending...
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    this is why it always makes me laugh when I see journalists trying to live on a pound per day etc ... at one time in my life a pound per day was sheer luxury!
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    (Original post by scrotgrot)
    this is why it always makes me laugh when I see journalists trying to live on a pound per day etc ... at one time in my life a pound per day was sheer luxury!
    It's hilarious when they mention how difficult it is, and I'm like "Really?" Even now I don't spend more than 50p per meal on average, which includes eating out, readymeals and cinema popcorn, for homemade I spend 30p, maybe a little less on average...... The £10 for a week is funny.....
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    (Original post by scrotgrot)
    this is why it always makes me laugh when I see journalists trying to live on a pound per day etc ... at one time in my life a pound per day was sheer luxury!
    I guess if you're used to living on a pound per day, it's not that much of a shock.
 
 
 
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