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    Hi guys, I'm new here.

    I'm going to be starting at university in September and I'm looking for some budgeting advice.

    My parents will be paying for all the basics like accommodation, travel to and from uni, textbooks, insurance, clothes and food. After this, they will give me an allowance of £100 a week for expenses but I don't know if this is enough?

    Many thanks,

    James
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    If you're excluding accommodation, food and travel, basically you're being given £100 a week to go out on, buy random things with, etc - it's plenty imho!
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    (Original post by ThatOxbridgeGuy)
    Hi guys, I'm new here.

    I'm going to be starting at university in September and I'm looking for some budgeting advice.

    My parents will be paying for all the basics like accommodation, travel to and from uni, textbooks, insurance and food. After this, they will give me an allowance of £100 a week for expenses but I don't know if this is enough?

    Many thanks,

    James
    I manage on £200/month and still have money left for the same as you - and stuff is expensive where I am
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    I lived off half that for everything after paying for accommodation. £100 to essentially spend on going out and clothes is a lot.
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    (Original post by Democracy)
    If you're excluding accommodation, food and travel, basically you're being given £100 a week to go out on, buy random things with, etc - it's plenty imho!
    This is what I initially thought, but it soon adds up. For example, a night out usually costs at least £30. Add a coffee each day and thats another £20. So two nights out and coffee = £80. Then if you go out for just one very cheap meal at £20 that's it, £100 gone already.....
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    (Original post by desdemonata)
    I lived off half that for everything after paying for accommodation. £100 to essentially spend on going out and clothes is a lot.
    My parents will be paying for clothes. What about meals out though?? A few visits to restaurants a week and it's almost gone... :confused:
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    (Original post by ThatOxbridgeGuy)
    This is what I initially thought, but it soon adds up. For example, a night out usually costs at least £30. Add a coffee each day and thats another £20. So two nights out and coffee = £80. Then if you go out for just one very cheap meal at £20 that's it, £100 gone already.....
    Do you need a coffee everyday? or do you mean getting a coffee socially? i feel like buying a coffee from starbucks everyday is unnecessary and pretty expensive in the long term
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    (Original post by ThatOxbridgeGuy)
    My parents will be paying for clothes. What about meals out though?? A few visits to restaurants a week and it's almost gone... :confused:
    Students don't eat at restaurants every week let alone a few times a week...
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    (Original post by ThatOxbridgeGuy)
    This is what I initially thought, but it soon adds up. For example, a night out usually costs at least £30. Add a coffee each day and thats another £20. So two nights out and coffee = £80. Then if you go out for just one very cheap meal at £20 that's it, £100 gone already.....
    Then spend less - work out a cheaper way when going out (pre drinks/walk instead of taxi/only go to places with free entry), don't buy a damn coffee if it's expensive, it's a luxury not a necessity and don't go out for a meal cook for yourself, or find a cheaper restaurant.

    £100 stretches very far as long as you're not profligate with it
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    (Original post by ThatOxbridgeGuy)
    This is what I initially thought, but it soon adds up. For example, a night out usually costs at least £30. Add a coffee each day and thats another £20. So two nights out and coffee = £80. Then if you go out for just one very cheap meal at £20 that's it, £100 gone already.....
    You need to start thinking like a student...£20 is not a "very cheap meal"

    Likewise, if you pre-drink you can end up saving a lot of money on nights out tbh.
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    (Original post by doubledenim)
    Do you need a coffee everyday? or do you mean getting a coffee socially? i feel like buying a coffee from starbucks everyday is unnecessary and pretty expensive in the long term
    Socially. I usually meet friends over coffee and intend to do a lot of networking so I think that I will probably need a reasonable leisure budget.
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    (Original post by WarrenBuffett)
    Yeah It's a piss take! My parents are loaded and still didn't give me more than 50 pound a week! plus I wasn't even allowed to get the accommodation of my choice. My only worry is why you seem to be spending £20 on a coffee? a night out for me can cost upwards of £100 actually and thats not counting the strip clubs and escorts!
    £20 over the whole week? so only about £3 per day on latté
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    (Original post by doubledenim)
    Do you need a coffee everyday?
    I need three coffees every day. The whole ETH Zurich runs on coffee, for instance.
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    (Original post by ThatOxbridgeGuy)
    My parents will be paying for clothes. What about meals out though?? A few visits to restaurants a week and it's almost gone
    I am going to assume that you are serious

    You will be going to restaurants alone ... no students visit them with anything like this frequency

    You will be extremely well off compared with most students who have negative money to live on even after only paying accommodation, never mind food/clothes/books/travel/etc
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    (Original post by Elcano)
    I need three coffees every day. The whole ETH Zurich runs on coffee, for instance.
    I drink far more than that per day but I do not pay £20 a week on coffee
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    (Original post by ThatOxbridgeGuy)
    This is what I initially thought, but it soon adds up. For example, a night out usually costs at least £30. Add a coffee each day and thats another £20. So two nights out and coffee = £80. Then if you go out for just one very cheap meal at £20 that's it, £100 gone already.....
    In the student lifestyle, people don't really go out for meals or pay for overpriced coffees. And people don't go out on nights where it will cost £30. The most I have spent on a night out (excluding a 15 hour bar crawl organised by my college) is about £20. There are student nights where you can get 2 pitchers for £12, triples for the price of singles, etc. It's hard to spend £30 if you pick the right night at the place with student offers (my uni town has just the right amount of clubs and bars for every week day to have a different one with student offers).


    (Original post by ThatOxbridgeGuy)
    My parents will be paying for clothes. What about meals out though?? A few visits to restaurants a week and it's almost gone... :confused:
    As I said, nobody really goes out for meals, couples once in a while excluded. Are you not planning to cook for yourself? People either go catered, or because that is a more expensive option, stick to self-catered and cook for themselves.

    If you're going to go out for meals all the time, yes you will end up spending a lot of money. I would consider that a waste though.
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    (Original post by TenOfThem)
    I am going to assume that you are serious

    You will be going to restaurants alone ... no students visit them with anything like this frequency

    You will be extremely well off compared with most students who have negative money to live on even after only paying accommodation, never mind food/clothes/books/travel/etc
    I am going to cambridge though so the social class will be a lot higher than average...
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    (Original post by ThatOxbridgeGuy)
    £20 over the whole week? so only about £3 per day on latté
    Do what the rest of the world does then - bring in your own in a flask or get some from the canteen's coffee machine instead of Starbucks.
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    ok it's threads like this that make me realise just how some people piss away their money. it honestly boggles my mind that some one could spend 20% of their money on coffee.
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    (Original post by TenOfThem)
    I drink far more than that per day but I do not pay £20 a week on coffee
    Well, depends on how you make it or where you buy it... ^^
 
 
 
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