Hey there! Sign in to join this conversationNew here? Join for free
    • Official TSR Representative
    • Thread Starter
    Offline

    1
    ReputationRep:
    Do you want advice on how to manage your money and live your student life on a budget?

    Hayden is a second year International Management student at the University of Bath. He supports open days and induction events, meeting students and answering questions. His first-hand experience as a student means he is an excellent person to answer any questions about student life and how to prepare for it.

    Please be aware all answers will be posted on Tuesday 7 February.
    • Political Ambassador
    Offline

    18
    Looking forward to this. :holmes:
    Offline

    0
    ReputationRep:
    What is the best way to budget your money for things like food and essential things?

    Am I stupid to thing that I could ever possible have any disposable income at university?

    What are tips and tricks for living on a budget at uni?

    Cant wait to hear back, thank you.
    Offline

    0
    ReputationRep:
    what's the best way to save money on food?
    • Political Ambassador
    Offline

    18
    Is it easy to find yourself a job at the University of Bath?

    Or in the city?
    • Official TSR Representative
    Offline

    0
    ReputationRep:
    Hi everybody,

    It is great to be working with Student Money Week! I look forward to answering all of your questions, and it is good to see that some questions are in already. I will answer all of your questions over the next hour or so, do feel free to add any other questions that you have. I am very happy to go off topic if there is anything that you would like to ask outside of living on a budget, about my university life in general.

    To start with a bit about myself, my name is Hayden (with a Y despite the username). I am a second year International Management student at the University of Bath, I love my course and the university. International Management involves a year abroad which I am currently preparing for. I have decided to study abroad in semester one, and work in semester two.

    In my first year I lived on the university campus, and now live with some friends in a shared house. From a budgeting perspective this can switch things up a lot, so do feel free to ask me about this. I was also part-catered in my first year, so this year I have also been preparing my own meals.

    Outside of my course I enjoy getting involved in university schemes such as the peer mentoring scheme, I help with offer holder days and open days, as well as work with the universities Student Room page. I have worked with students from prospective applicants through to their induction week, and mentor a small group of first year students now. To relax I enjoy hanging out with friends and training for running.

    I will start answering questions now, again please do not be afraid to ask anything else!

    Hayden
    • TSR Community Team
    Offline

    20
    ReputationRep:
    What are the most common budgeting issues you come across and would recommend people learn from others mistakes?

    Any handy tips as well worth knowing?
    • Official TSR Representative
    Offline

    0
    ReputationRep:
    (Original post by SophieAmelia98)
    What is the best way to budget your money for things like food and essential things?

    Am I stupid to thing that I could ever possible have any disposable income at university?

    What are tips and tricks for living on a budget at uni?

    Cant wait to hear back, thank you.
    Hi Sophie,

    For me the best place to start is to see how much money I would have over the course of the semester, or number of given weeks. This could be from your student loan, support from your parents, or your own savings for example. I start by taking away the costs of accommodation from this amount, or any other 'fixed costs' that are unavoidable (books for example) to see how much money is not tied up. I then divided the remaining money by the number of weeks that the money is needed for to calculate how much money I have to spend on a weekly basis. This was more simple in my first year when all of my bills were included in the rate, therefore the money remaining could cover my food and other essentials or extras. What you may find is that this weekly amount left over is not enough, in which case it is best to work to overcome this problem as early as possible. Do try to calculate your expected weekly expenditure beforehand, therefore if there is a mismatch in numbers it won't come as a surprise.

    I think that the biggest mistake that people make on a student budget can involve alcohol. After a few drinks, people can forget how much money they have to spend, which can have a knock on effect with their budgeting. I know that people who often make this mistake only take out as much money as they are willing to spend in their wallet, to avoid any crazy spending!

    Another trick is to buy your books second hand. Speak to your lecturers beforehand, they may also feel that buying an older edition could would be suitable. When new editions of a book are released the core text often stays the same, while examples are updated. You may find that because of this page numbers change around slightly, so be prepared to spend a bit more time finding your readings. For a course like mine, International Management, the international business environment is always changing, especially at the moment! For that reason I stick to the newer edition books where possible. If you are studying Maths for example, this may be less necessary.

    To answer your other question, I feel that it is possible to have disposable income at university. When you look around the shops, they are always trying to target students. In many cases I feel that students throw away their disposable incomes early on in the year with all of the student discounts. Of course everybody's circumstances are different, and I know that there are people out there who do struggle and need support from a job or scholarship for example. What is important is to remember that the support is out there for everybody who needs it.

    I hope that this helps you,
    Hayden
    • Official TSR Representative
    Offline

    0
    ReputationRep:
    (Original post by ben344)
    what's the best way to save money on food?
    Hi Ben,

    Thank you for your question! Food costs vary considerably from person to person, as we all enjoy different diets. I think that this is one of the areas that students are less willing to adapt in order to save money. I would firstly encourage you to check out our blogs at the University of Bath, Mia has posted a guide to healthy eating on a budget here. It may be worth taking a look at other posts made about student life too!

    From my own perspective, I will be honest and admit that I am a fussy eater. For that reason, saving money doesn't come from what I eat but more where I buy it from. It can often appear easier to buy your food from a convenience store, however super markets can be a lot cheaper. If you try to make larger shops from a supermarket (delivery is always an option) you will be able to save money. Do look out for student discounts also, I get 10% off at the Co-operative stores as an NUS card holder for example. Even on a small shop of £5 this can make a difference in the long-run.

    Also check out if there are frozen alternatives to what you would normally buy. I only realised this recently, but frozen pizza is so much cheaper than fresh, I can't really tell the difference. Consider also freezing your fresh food, this increases the life of the food so that you can take advantage of deals such as three for the price of two. You should avoid throwing your food away wherever possible!

    I hope that this helps you,
    Hayden
    • Official TSR Representative
    Offline

    0
    ReputationRep:
    (Original post by EC)
    Is it easy to find yourself a job at the University of Bath?

    Or in the city?
    Hi,

    I hope that your studies are going well, thank you for checking out this page! At the University of Bath it is relatively easy to find a job, and a flexible job too.

    Internally the university offers many roles, this could be in food outlets or admin roles for example. The university has agreed to pay staff a living wage, for hourly and relatively basic jobs I think that this is a fair deal. Roles on campus are often more flexible, as staff understand that we have lectures, assignments and everything else! I work with the Social Media Ambassador team and also help with the School of Management open days. I didn't come across any issues when applying, open days are often very large events so require a number of students.

    You can of course work in the city, I often see signs on windows looking for new employees. What you may find is that businesses can be less accepting to our lifestyle, and require employees to work over Christmas for example. This varies from business to business of course, and this applies to businesses outside of Bath too. Before you get a job off-campus I would suggest seeing how you manage the workload, you can then negotiate your working hours beforehand which can be easier than asking your boss for less hours later.

    I hope that this helps you!
    Hayden
    • Official TSR Representative
    Offline

    0
    ReputationRep:
    (Original post by CJ)
    What are the most common budgeting issues you come across and would recommend people learn from others mistakes?

    Any handy tips as well worth knowing?
    Hi CJ,

    As I mentioned above, the main issue that I see involves students drinking too much and reaching a level where they are unable to control their spending. It is a mistake that can be easily resolved, avoid taking out more money than you are willing to spend when you go out for drinks.

    When arriving at university large expenses can be easily overlooked. When coming from school many students assume that books are provided free of charge, however at most universities these are an additional expense. Freshers week can also be expensive, you may need to buy additional items for your room and the cost of parties can soon add up. I would advise students to allocate a bit more money for the first week, otherwise you risk going over budget at the very start.

    An issue that I have personally fallen victim to is that you shouldn't be blown away by student discounts. Last year I was in a clothes store where for two days only they had 10% off for students. I spent a lot of money on a jacket, convinced that I had a great deal. A few months later, I logged onto their website and found that the same jacket had 40% off in an end of season sale! It is very easy to spend a lot of money and justify it because there is some money off. Be aware that student discount doesn't always mean that you will not find the product cheaper at another time! Even if it was the cheapest, did I really need the jacket? As a student you do not want an unnecessary purchase to influence your expenditure on essentials such as food.

    I hope that this helps you!
    Hayden
    • Political Ambassador
    Offline

    18
    (Original post by Haden Lefley)
    Hi,

    I hope that your studies are going well, thank you for checking out this page! At the University of Bath it is relatively easy to find a job, and a flexible job too.

    Internally the university offers many roles, this could be in food outlets or admin roles for example. The university has agreed to pay staff a living wage, for hourly and relatively basic jobs I think that this is a fair deal. Roles on campus are often more flexible, as staff understand that we have lectures, assignments and everything else! I work with the Social Media Ambassador team and also help with the School of Management open days. I didn't come across any issues when applying, open days are often very large events so require a number of students.

    You can of course work in the city, I often see signs on windows looking for new employees. What you may find is that businesses can be less accepting to our lifestyle, and require employees to work over Christmas for example. This varies from business to business of course, and this applies to businesses outside of Bath too. Before you get a job off-campus I would suggest seeing how you manage the workload, you can then negotiate your working hours beforehand which can be easier than asking your boss for less hours later.

    I hope that this helps you!
    Hayden
    Thank you very much for your answer. Do you need any previous experience to have a role on campus?
    • Official TSR Representative
    Offline

    0
    ReputationRep:
    (Original post by EC)
    Thank you very much for your answer. Do you need any previous experience to have a role on campus?
    Not necessarily, with campus roles transferable skills appear to have priority, although I have no connection to recruitment at the University of Bath. These could be learned through a job, volunteering, or school projects for example. I am now looking at a job description for the campus store, they are looking for reliable people with drive and ambition. They provide full training, therefore past skills are not so necessary as such.

    You will find with your course and placement applications that any work experience is helpful. You have a relatively long summer break before coming to university, some businesses offer internships for students before university. I chose not to work over the summer before university as I had worked in a hotel for three school years, and was ready for a break! Over the last summer break I decided to work, I learned so much and it can be very rewarding.

    Hayden
    • Political Ambassador
    Offline

    18
    (Original post by Haden Lefley)
    Hi everybody,

    It is great to be working with Student Money Week! I look forward to answering all of your questions, and it is good to see that some questions are in already. I will answer all of your questions over the next hour or so, do feel free to add any other questions that you have. I am very happy to go off topic if there is anything that you would like to ask outside of living on a budget, about my university life in general.

    To start with a bit about myself, my name is Hayden (with a Y despite the username). I am a second year International Management student at the University of Bath, I love my course and the university. International Management involves a year abroad which I am currently preparing for. I have decided to study abroad in semester one, and work in semester two.

    In my first year I lived on the university campus, and now live with some friends in a shared house. From a budgeting perspective this can switch things up a lot, so do feel free to ask me about this. I was also part-catered in my first year, so this year I have also been preparing my own meals.

    Outside of my course I enjoy getting involved in university schemes such as the peer mentoring scheme, I help with offer holder days and open days, as well as work with the universities Student Room page. I have worked with students from prospective applicants through to their induction week, and mentor a small group of first year students now. To relax I enjoy hanging out with friends and training for running.

    I will start answering questions now, again please do not be afraid to ask anything else!

    Hayden
    Do you have to pay for everything when you go a year abroad/placement or are some of the expenses covered?

    Do you think going catered or part-catered is more advantageous?
    • Official TSR Representative
    Offline

    0
    ReputationRep:
    Thanks to everyone for their questions and a big thanks to Hayden for his helpful answers
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    What newspaper do you read/prefer?
    Useful resources

    Groups associated with this forum:

    View associated groups
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.