So.. my rent for my flat this year is £357 per month. Next year, I am moving into a new flat which has rent at £420 a month. I need to pay the deposit for that flat which is going to be £450. So basically, in one month I am going to have to pay £870 for the flat (deposit plus rent)!!!!. Honestly I do not know how I'm going to afford it. With rent at £357 just now I can usually afford it, although some months my parents have to pay for it if I run out of money (rare but it does happen sometimes). For saas I get £557 per month, I know it seems a lot and I should be able to cope fine but food seems to be extortionate these days and I don't go shopping for clothes at all anymore, however I do get the train home most weekends which costs me about £14 for both trips.
Obviously, I am going to try and get a job next year to support my rent payments, should I go on the nursing bank or work in a shop? I am not enjoying my nursing course much right now and feel a shop job would give me some time away from nursing rather than doing nursing all the time which would probably depress me to be honest! I also feel really bad on my parents as they have said they are going to have to pay the deposit for me.. although I do have money for it just now that means I am not going to have money for my rent too. I just feel so bad for them, I want to help as much as possible so they don't have to pay rent for me so often and help me out. Any advice is great..... thanks!
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How do you budget?/rent payments/relying on parents watch
- Thread Starter
- 14-05-2013 22:11
- 14-05-2013 22:40
Making a spreadsheet like this one really helped me, make sure that you prioritize some things over others (rent, bills, food etc over social spending, clothes etc). My main advice for budgeting is to make sure you know exactly how much you have each week/month and stick to it. Getting a job will obviously really help. A lot of students have to rely on their parents a bit during university, mine paid my deposit for halls during my first year because I had no job and no money so don't feel too bad, maybe you can pay them back a little bit each week? Or maybe offer to pay their food bill for a couple of weeks to make up for it.
- 14-05-2013 22:43
I find a great way to budget is to set up a Microsoft Excel document. Have different columns for money coming in and money going out. If you want to add up a bunch of numbers click in a cell and type " =SUM() " and inside the brackets click the range of cells you want to add up eg =SUM(D13 : D24) will add up all the numbers in cells D13,D14,D15.....D24.
If you use minus numbers for money going out and positive numbers for money coming in, this will make the table easier to set up.
Furthermore, include the important things first - by important I mean rent, food and study materials. Takeaways, phone contracts, alcohol, clubbing, cinemas, coffee shops, shopping trips etc come lower down in order of what you NEED not what you WANT.
This way, when you start running out of money, you get rid of non-essentials first. Don't forget to talk to banks - Lloyds TSB has an online banking system which can do all your budgeting for you, and most banks offer student accounts with an interest free overdraft of up to £1500 if you need emergency cash ( Note - usually its only interest free while you're studying. When you graduate, interest is added. ) and perhaps consider looking for a part-time job? Even if its only 1 shift a week - 8 hours x £5 an hour = £40 a week, which is MORE than enough for food. ( I currently live on £20 a week for food, plus £5 for shampoo etc - and I don't even eat the 'smartprice' stuff. )
Things like biscuits and chocolate are treats - they can add up in a typical weekly shop when you don't really need them. ( You could find you lose lb while you gain ££ !! ) Similarly, the own brand shampoo does the exact same thing as expensive shampoos; using soap instead of shower gel, and switching to a water meter can help you lower your costs too.
Don't be afraid to shop around for cheaper energy suppliers, and quote them off against each other - but beware of gimmicks.
Good luck! Hope that helps
- 14-05-2013 22:47
I think getting a part time job would be your best bet, as long as it wouldn't affect your studies, because at the end of the day, you can't do much in terms of graduate jobs without at least getting a 2:1, if you do decide that you don't want to go into nursing afterwards.
I suppose you would be able to work 10 or so hours a week, which would probably give you in the region on £50-80 extra per week, which would be incredibly useful, and would mean that you wouldn't have to rely on your parents.
Either way, best of luck!Last edited by thegodofgod; 14-05-2013 at 22:50. Reason: Spelling mistake :p
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- 14-05-2013 23:01
Do you need to go home each weekend?