The Student Room Group
Liverpool John Moores University
Liverpool John Moores University
Liverpool

Money worries at university

I just received my loan/grant information about how much I will receive and its much less than I anticipated, as my mum doesn't work and is a single parent I thought I would receive the highest amount in terms of the full loan, full grant and the additional grant but It turns out I won't be getting the additional grant. My accommodation is £5,100 for the year and I get about £7,500 including my grant and loan. I've worked it out that i will have about £700 to last me just under 4 months per time? I'm really worried that I won't have enough money to feed myself as well as have a social life - I understand I won't be able to go drinking every day but I also want to have the money if I do decide to go out. Furthermore, my job could transfer me if there are positions available at the store local to my accommodation - but if they don't I will struggle to find a job and also if they do I feel like I will be working to much so I won't be able to do well in my course, have a social life and be able to have enough money.

Any advice?
Reply 1
I feel bad for you. I recently done a gap year and worked full-time. I still haven't done my loan/grants yet - anticipating my money will come late now. My mother is on disability benefits and I wasn't on the best of money when I done my work experience. My accommodation will roughly be around four grand. After reading this I am worried about your situation. My only advice would be to get a part-time job but thats not exactly a walk in the park either.
Liverpool John Moores University
Liverpool John Moores University
Liverpool
Universities usually have a hardship fund for students who find themselves in financial difficulties. If you have already signed for your accommodation etc then I'd advise to go ahead with it and when you get your money through and pay your first lot of rent, set a budget and stick to it. I had a similar amount to you between payments and it worked out at about £50 per week to spend on food, leisure, whatever else.
Some of my friends changed their budget about a bit, so if they had a birthday coming up or something, they'd live on less one week to save up for the following week if that makes sense. So if their budget was £50, they'd live on £30 for one week then have an extra £20 for the following week, meaning they have £70. So for you if you have a night out coming up, just be less spendy the week before - buy cheaper food etc.
If, like me, you can't stick to a budget, another one of my friends sentt his entire student loan to his mum who then set up a standing order for him to receive £50 of it every Monday so he had no choice but to stick to it.
So they're a couple of ideas to help you stick with a budget.
If, however, you find the budget isn't enough, speak to the university and ask about the hardship fund, but give it a go first :smile:

One thing I'd advise is to avoid a student overdraft, I racked up a big one and if I could go back, I'd budget instead. Obviously dip into it a little bit every now and then if you become a bit unstuck but don't go too far into it.

So, in summary, learn from my mistakes :biggrin:

It is possible.

p.s. If you get your job transferred, that'll help tremendously

p.p.s. Make sure you look for a good value student house for your second year as they are significantly cheaper than halls
(edited 8 years ago)
Reply 3
Original post by WeirdLittleO
Universities usually have a hardship fund for students who find themselves in financial difficulties. If you have already signed for your accommodation etc then I'd advise to go ahead with it and when you get your money through and pay your first lot of rent, set a budget and stick to it. I had a similar amount to you between payments and it worked out at about £50 per week to spend on food, leisure, whatever else.
Some of my friends changed their budget about a bit, so if they had a birthday coming up or something, they'd live on less one week to save up for the following week if that makes sense. So if their budget was £50, they'd live on £30 for one week then have an extra £20 for the following week, meaning they have £70. So for you if you have a night out coming up, just be less spendy the week before - buy cheaper food etc.
If, like me, you can't stick to a budget, another one of my friends sentt his entire student loan to his mum who then set up a standing order for him to receive £50 of it every Monday so he had no choice but to stick to it.
So they're a couple of ideas to help you stick with a budget.
If, however, you find the budget isn't enough, speak to the university and ask about the hardship fund, but give it a go first :smile:

One thing I'd advise is to avoid a student overdraft, I racked up a big one and if I could go back, I'd budget instead. Obviously dip into it a little bit every now and then if you become a bit unstuck but don't go too far into it.

So, in summary, learn from my mistakes :biggrin:

It is possible.

p.s. If you get your job transferred, that'll help tremendously

p.p.s. Make sure you look for a good value student house for your second year as they are significantly cheaper than halls




Thanks for this sound advice. This will help greatly, espically the hardship fund. I will look into that.
Er, mate...

You have £2,400 when you deduct student accommodation...
Assume you'll spend £20 a week on food (I can live off £10 a week comfortably if I put in the effort to cook and it is healthy living). That knocks off £1,040.
That leaves you with £1,360 to spend on "Socialising".

So, I think you'll be fine. =l
Reply 5
£5,100 is a lot of money- where are you going to uni? maybe its too late for this year but next year you could probably find somewhere cheaper, providing you will be outside London. if i am right in saying you have £2000 to last you the year I'd say that seems manageable, atleast outside of London. you could get by on £20/week for food, maybe less if you go veggie. over 38 weeks, which is my accommodation contract length so supposing yours is similar,that would cost £760 for the academic year. which gives you a little more than a grand for transport and socialising. also you don't need to drink every time you go out, you can go just to socialise. and going out to clubs and bars isnt the only way to socialise, you can also host game or film nights, or have people over for meals if your kitchen area is large enough. and you can join societies too. and you can also save up during summer holidays with a job.i think you should be able to make ends meet
Reply 6
Original post by ALT94
I feel bad for you. I recently done a gap year and worked full-time. I still haven't done my loan/grants yet - anticipating my money will come late now. My mother is on disability benefits and I wasn't on the best of money when I done my work experience. My accommodation will roughly be around four grand. After reading this I am worried about your situation. My only advice would be to get a part-time job but thats not exactly a walk in the park either.


Yeah I only just got mine through yesterday but seeming as i sent it on monday it happened pretty quickly so i'd advise to sort it asap! I'm probably just worried because I'm such an organised person like the only reason I chose the accommodation was based on the fact id get the extra grant but i cant really change now and if i do i cant just cough up 250/300 on a deposit!
Reply 7
Original post by WeirdLittleO
Universities usually have a hardship fund for students who find themselves in financial difficulties. If you have already signed for your accommodation etc then I'd advise to go ahead with it and when you get your money through and pay your first lot of rent, set a budget and stick to it. I had a similar amount to you between payments and it worked out at about £50 per week to spend on food, leisure, whatever else.
Some of my friends changed their budget about a bit, so if they had a birthday coming up or something, they'd live on less one week to save up for the following week if that makes sense. So if their budget was £50, they'd live on £30 for one week then have an extra £20 for the following week, meaning they have £70. So for you if you have a night out coming up, just be less spendy the week before - buy cheaper food etc.
If, like me, you can't stick to a budget, another one of my friends sentt his entire student loan to his mum who then set up a standing order for him to receive £50 of it every Monday so he had no choice but to stick to it.
So they're a couple of ideas to help you stick with a budget.
If, however, you find the budget isn't enough, speak to the university and ask about the hardship fund, but give it a go first :smile:

One thing I'd advise is to avoid a student overdraft, I racked up a big one and if I could go back, I'd budget instead. Obviously dip into it a little bit every now and then if you become a bit unstuck but don't go too far into it.

So, in summary, learn from my mistakes :biggrin:

It is possible.

p.s. If you get your job transferred, that'll help tremendously

p.p.s. Make sure you look for a good value student house for your second year as they are significantly cheaper than halls


That's a really good idea to change your budget depending on what plans you have I'll definitely be doing that and I will definitely keep in mind the hardship fund if i do find myself having problems. Yeah I probably wouldn't use an overdraft as that will put me in a bad situation further on. I only chose my accommodation based on the thought of getting the extra grant and my accom is£125 a week and i know i can get a room next year for £80! Halls are ridiculously overprices but I wouldn't wanna go anywhere else in my first year. Thanks for your advice!
Reply 8
Original post by Scienceisgood
Er, mate...

You have £2,400 when you deduct student accommodation...
Assume you'll spend £20 a week on food (I can live off £10 a week comfortably if I put in the effort to cook and it is healthy living). That knocks off £1,040.
That leaves you with £1,360 to spend on "Socialising".

So, I think you'll be fine. =l


But the £1,360 wont just be spent on socialising, i have to get a bus to my campus so depending on what my uni offers i presume i have to buy a bus card which i have no idea how much it will be but i know a monthly one in my city is £50! Also having to buy things like toiletries, clothes, train tickets to go home etc etc
Reply 9
Original post by schmuur
£5,100 is a lot of money- where are you going to uni? maybe its too late for this year but next year you could probably find somewhere cheaper, providing you will be outside London. if i am right in saying you have £2000 to last you the year I'd say that seems manageable, atleast outside of London. you could get by on £20/week for food, maybe less if you go veggie. over 38 weeks, which is my accommodation contract length so supposing yours is similar,that would cost £760 for the academic year. which gives you a little more than a grand for transport and socialising. also you don't need to drink every time you go out, you can go just to socialise. and going out to clubs and bars isnt the only way to socialise, you can also host game or film nights, or have people over for meals if your kitchen area is large enough. and you can join societies too. and you can also save up during summer holidays with a job.i think you should be able to make ends meet


I'm going to Liverpool John moores uni, and i maybe could try and get cheaper accommodation but i dont have £300 for a deposit and this is the closest to my campus atm! But thanks for your advice i appreciate it!
Reply 10
Original post by sherise
But the £1,360 wont just be spent on socialising, i have to get a bus to my campus so depending on what my uni offers i presume i have to buy a bus card which i have no idea how much it will be but i know a monthly one in my city is £50! Also having to buy things like toiletries, clothes, train tickets to go home etc etc


Have you looked on John Moore's website? There should be some sort of information on transport in terms of a bus pass.
I doubt it is very much and since you're a student it's not likely to be much.

I recommend getting a 16-25 railcard if you haven't already got one, it saved me so much money travelling home!

You will be fine with that amount of money though, I had a similar amount per term and I always had money left over! As long as you're sensible with spending, buying cheap were you can, you'll be fine. I actually had around £500 of my loan left over of last term which is good as I need to pay for summer rent (grrrr accommodation contracts suck :frown:)
On university websites, if they estimate the living costs per week, are they actually the minimum living costs you will be living on or you can spend less?

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(edited 8 years ago)
Original post by corax
Have you looked on John Moore's website? There should be some sort of information on transport in terms of a bus pass.
I doubt it is very much and since you're a student it's not likely to be much.

I recommend getting a 16-25 railcard if you haven't already got one, it saved me so much money travelling home!

You will be fine with that amount of money though, I had a similar amount per term and I always had money left over! As long as you're sensible with spending, buying cheap were you can, you'll be fine. I actually had around £500 of my loan left over of last term which is good as I need to pay for summer rent (grrrr accommodation contracts suck :frown:)


This I can confirm.
I currently have about £850 left of my student loan left from the year just gone and my rent to pay until I move into my new accommodation in September will be about £750 (My deposit has yet to come back from my previous accommodation...)
So, I would recommend leaving some money left for rent for the months you will not be there next year (June-August). =l
(edited 8 years ago)
Original post by sherise
I just received my loan/grant information about how much I will receive and its much less than I anticipated, as my mum doesn't work and is a single parent I thought I would receive the highest amount in terms of the full loan, full grant and the additional grant but It turns out I won't be getting the additional grant. My accommodation is £5,100 for the year and I get about £7,500 including my grant and loan. I've worked it out that i will have about £700 to last me just under 4 months per time? I'm really worried that I won't have enough money to feed myself as well as have a social life - I understand I won't be able to go drinking every day but I also want to have the money if I do decide to go out. Furthermore, my job could transfer me if there are positions available at the store local to my accommodation - but if they don't I will struggle to find a job and also if they do I feel like I will be working to much so I won't be able to do well in my course, have a social life and be able to have enough money.

Any advice?


Also, would STRONGLY recommend getting an NUS card, this will save you TONNES of money and it only costs £25 for 3 years.
I find the best thing to use it on is Amazon and whenever I visit McDonalds.
My parents also use it on shops I don't use (mostly clothes shopping).
This also acts as a student ID because, incase your uni ID doesn't have an expiration date on it (Mine doesn't), you can show your NUS card and they will accept it.
(edited 8 years ago)
Reply 14
Original post by Scienceisgood
This I can confirm.
I currently have about £850 left of my student loan left from the year just gone and my rent to pay until I move into my new accommodation in September will be about £750 (My deposit has yet to come back from my previous accommodation...)
So, I would recommend leaving some money left for rent for the months you will not be there next year (June-August). =l

That's really good! Unfortunately my accommodation is £900 something for summer, which includes a £50 deposit for keys :/
Reply 15
I feel you pain. Im not entitled to any loans or grants because I have an equivalent degree. I work and will have to carry on working while I study, not so bothered about the social aspects anymore. I'm already low paid so Ive been in training for student life for a while. Some tips:
Santander offer a 4-year 19-25 railcard with their student accounts (I will have to get the train because Im far out, sadly I'm older than 25).
As for buses, the majority of student accommodation including private lets are within walking distance so you might not have to get the bus. I think you said you are not staying in JMLU halls/flats is that correct? If you are they are about 5 minutes away from the uni (even though its spread out everywhere). If not what area are you staying it could also be close (science or arts campus? or IM Marsh?).
FOOD: For food, shop in ALDI, poundland/world, B and M, or St johns market in the city center. If you are on Smithdown...check the WHOOPS aisle in ASDA for bargains. If you eat meat, buy pork and beef mince (usually to be found in the WHOOPS) and mix them up and throw them in the oven...80 meatballs. KOKA noodles...5 packets for a pound, I live off them (20 p for lunch with a few veggies thrown in..or meatballs haha).
JOB: I used to work evenings (3 hr a night cleaning) while at uni, could still study and still go out. Then I started weekends as well an extra 15 hours at the weekend, I still went out but that took its toll on the studying a bit, so I wouldn't over do the work front. 15 hours a week was plenty and would easily pay for food and buses.

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