Summerlovin99
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Any tips for saving money through university? save money though freshers week?
Also when buying essentials for uni is that payed by ourselves or will maintenance loan cover that?? basically does maintenance loan enter bank before i go to university?? And do we get payed the loan for the whole year or term payments??
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claireestelle
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(Original post by tvuki1)
Any tips for saving money through university? save money though freshers week?
Also when buying essentials for uni is that payed by ourselves or will maintenance loan cover that?? basically does maintenance loan enter bank before i go to university?? And do we get payed the loan for the whole year or term payments??
Maintenance loan is termly, that all depends on your loan amount and what you consider to be essentials. It wont get paid till your attendance is confirmed, so unless your university counts online enrolment before you get to campus, it'd be safe to have a couple of weeks cash just in case your payment is late.
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Klix88
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(Original post by tvuki1)
Any tips for saving money through university?
A few ideas:
- Don't buy books unless they really aren't available from your library and are vital.
- Don't get into the habit of buying takeaway coffee.
- Bringing your own sandwiches, salad etc, is always cheaper than buying food on campus.
- For Christmas and birthdays, ask for gift cards for the places you usually buy food and clothes.
- Try to cook your own meals and not succumb to the lure of takeaways.

save money though freshers week?
Don't be tempted to try and attend every party, club night or social. Pick the ones which appeal most and limit what you spend by only taking cash and leaving your card(s) behind. If you intend to drink, it's cheaper to buy your own and gear up before you go out. If you need to get a taxi, find other students to share with you and split the fare.

If this is your first time managing your own money (and it will be for most), try to figure out how much you can afford to spend in Freshers Week and stick to it. Don't be like one of my colleagues, who spent his entire first term's Student Finance *and* the term's money from his parents, during Freshers Week.

Also when buying essentials for uni is that payed by ourselves or will maintenance loan cover that??
How much Maintenance Loan you get, depends on your household income. So we don't know how much you'll get. You can get an estimate by entering your details here:
https://www.gov.uk/student-finance-calculator

It will also depend on how much your rent is - that varies between universities and types of accommodation. The big expense is rent. Every uni will have the rent of its accommodation online, so you can check that against your SF estimate. Your SF entitlement takes no account of your outgoings. Most people find that the majority - if not all - of their Maintenance Loan is used to pay rent. Essentially you can spend your Maintenance Loan however you want, but most people need extra to cover all their uni living costs. Having a part-time job is pretty normal. Some students have parents who give them extra - that's what the government intends, but it seems to be less common these days.

basically does maintenance loan enter bank before i go to university??
No. your first installment will arrive a few days after you enrol on campus. As suggested above, bringing enough money for a couple of weeks would be a good idea.

And do we get payed the loan for the whole year or term payments??
In England, it's three payments a year, at the start of each term. In the first and second year, your third payment will be slightly larger as it helps with living costs over the summer. In your final year, your third payment will be lower as Student Finance stops when your course ends, usually in June.
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Summerlovin99
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(Original post by Klix88)
A few ideas:
- Don't buy books unless they really aren't available from your library and are vital.
- Don't get into the habit of buying takeaway coffee.
- Bringing your own sandwiches, salad etc, is always cheaper than buying food on campus.
- For Christmas and birthdays, ask for gift cards for the places you usually buy food and clothes.
- Try to cook your own meals and not succumb to the lure of takeaways.


Don't be tempted to try and attend every party, club night or social. Pick the ones which appeal most and limit what you spend by only taking cash and leaving your card(s) behind. If you intend to drink, it's cheaper to buy your own and gear up before you go out. If you need to get a taxi, find other students to share with you and split the fare.

If this is your first time managing your own money (and it will be for most), try to figure out how much you can afford to spend in Freshers Week and stick to it. Don't be like one of my colleagues, who spent his entire first term's Student Finance *and* the term's money from his parents, during Freshers Week.


How much Maintenance Loan you get, depends on your household income. So we don't know how much you'll get. You can get an estimate by entering your details here:
https://www.gov.uk/student-finance-calculator

It will also depend on how much your rent is - that varies between universities and types of accommodation. The big expense is rent. Every uni will have the rent of its accommodation online, so you can check that against your SF estimate. Your SF entitlement takes no account of your outgoings. Most people find that the majority - if not all - of their Maintenance Loan is used to pay rent. Essentially you can spend your Maintenance Loan however you want, but most people need extra to cover all their uni living costs. Having a part-time job is pretty normal. Some students have parents who give them extra - that's what the government intends, but it seems to be less common these days.


No. your first installment will arrive a few days after you enrol on campus. As suggested above, bringing enough money for a couple of weeks would be a good idea.


In England, it's three payments a year, at the start of each term. In the first and second year, your third payment will be slightly larger as it helps with living costs over the summer. In your final year, your third payment will be lower as Student Finance stops when your course ends, usually in June.
Thanks is there anything that most people forget on first year that need to be bought or like anything important to bring?
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KaylaB
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(Original post by tvuki1)
Any tips for saving money through university? save money though freshers week?
Also when buying essentials for uni is that payed by ourselves or will maintenance loan cover that?? basically does maintenance loan enter bank before i go to university?? And do we get payed the loan for the whole year or term payments??
Do not buy a freshers wristband if your uni offers one. It may seem like a great deal at the time and they may keep saying that all of the event 'will completely sell out' but they will be selling individual tickets afterwards.
I ended up paying £55 (plus £3 booking fee) for a wristband for 18 events, I feel like I went to the majority of the events (there were sometimes 2 on one night) and only went to 10, and the prices for individual tickets started from £3 and went up to £5 each so I didn't even get my money's worth :dontknow:

In terms of the maintenance loan, they normally schedule your first payment for when your course starts (freshers week/fortnight does not count as the start of your course), and your university has to confirm your attendance. Then providing there are no hiccups you should receive your first instalment within 3-5 days, but they send you a text to let you know this.
There are 3 instalments of the maintenance loan payments, the first in mid-to-late September, the second in early January, and the final in late April.
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Summerlovin99
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(Original post by KaylaB)
Do not buy a freshers wristband if your uni offers one. It may seem like a great deal at the time and they may keep saying that all of the event 'will completely sell out' but they will be selling individual tickets afterwards.
I ended up paying £55 (plus £3 booking fee) for a wristband for 18 events, I feel like I went to the majority of the events (there were sometimes 2 on one night) and only went to 10, and the prices for individual tickets started from £3 and went up to £5 each so I didn't even get my money's worth :dontknow:

In terms of the maintenance loan, they normally schedule your first payment for when your course starts (freshers week/fortnight does not count as the start of your course), and your university has to confirm your attendance. Then providing there are no hiccups you should receive your first instalment within 3-5 days, but they send you a text to let you know this.
There are 3 instalments of the maintenance loan payments, the first in mid-to-late September, the second in early January, and the final in late April.
Thanks!!!really useful
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SophieSmall
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(Original post by tvuki1)
Any tips for saving money through university? save money though freshers week?
Also when buying essentials for uni is that payed by ourselves or will maintenance loan cover that?? basically does maintenance loan enter bank before i go to university?? And do we get payed the loan for the whole year or term payments??

Your maintenance loan with go into your bank in 3 instalments that coincide with your degree dates. For most people this will be September, January and April.

Most of the time your maintenance loan won't come into your bank until a week or two after freshers week as someone else mentioned because you get it once you have enrolled at university, usually in person. So if you don't have family who can help you financially between payments or you don't have any money saved to tide you over, I recommend getting a student account with an overdraft to use during that week or two


Honestly my biggest advice for saving money as a student. Learn the difference between luxury and necessity, sounds obvious but I know a lot of people who can;t seem to get to grips with this. As a student you can't have it all, your income simply won't allow for it. So you need to learn to make sacrifices. I do unfortunately way too frequently see and hear people complaining that they can't afford to go out and socialise....and yet they chose luxury en suite student accommodation far out of their budget means even when there were other accommodations or private housing often half the price. Which frankly was their own fault.


If you want to save money, get to grips with this now. What actually matters to you? And take your budget from there.
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Summerlovin99
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(Original post by SophieSmall)
Your maintenance loan with go into your bank in 3 instalments that coincide with your degree dates. For most people this will be September, January and April.

Most of the time your maintenance loan won't come into your bank until a week or two after freshers week as someone else mentioned because you get it once you have enrolled at university, usually in person. So if you don't have family who can help you financially between payments or you don't have any money saved to tide you over, I recommend getting a student account with an overdraft to use during that week or two


Honestly my biggest advice for saving money as a student. Learn the difference between luxury and necessity, sounds obvious but I know a lot of people who can;t seem to get to grips with this. As a student you can't have it all, your income simply won't allow for it. So you need to learn to make sacrifices. I do unfortunately way too frequently see and hear people complaining that they can't afford to go out and socialise....and yet they chose luxury en suite student accommodation far out of their budget means even when there were other accommodations or private housing often half the price. Which frankly was their own fault.


If you want to save money, get to grips with this now. What actually matters to you? And take your budget from there.
About the Accommodation, would you recommend shared bathroom, is it alright then? I was going to go for ensuite but maybe not now I was going to get my parents to pay for my accommodation and obvs i pay for everything else?? Thats what all my friends are doing, is that not common? do most people pay for it themselves??? Sorry if I'm asking too much
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Tiger Rag
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Learn to budget. As mentioned, your loans comes in 3 times a year. But you have to make it last. So yes, you may have £1000 left after paying your rent for the first term; but there's no point going out on a shopping spree. That money has to last you until the end of term.

If you use the train, it's worth getting a young person's railcard. (can't remember which bank offers this now)

There's nothing wrong with own brand foods. I buy a lot of them because I prefer them, rather than to save money. I can't really taste the difference.
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SophieSmall
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(Original post by tvuki1)
About the Accommodation, would you recommend shared bathroom, is it alright then? I was going to go for ensuite but maybe not now I was going to get my parents to pay for my accommodation and obvs i pay for everything else?? Thats what all my friends are doing, is that not common? do most people pay for it themselves??? Sorry if I'm asking too much
No idea what most people do. But I don't get any financial help from family as they cant afford it. So I pay for everything out of student finance.

Honestly unless you have a medical reason for ensuite or severe anxiety. Then I think if money is a worry and yet you still get ensuite youre making a very stupid decision.
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dumplings
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Aside from common sense about finances, creating a spreadsheet of expenses will allow you to see what you buy in a week/month and what's necessary and unnecessary. It really adds up, so you can 'axe' what you know you don't really need. Knowing how to budget and writing it out in order to have a visual map of spending needs vs. wants helps a lot.

Keep compulsive purchases under control. I know for kids straight out of high-school, fast food is a big one as they often don't know/have time to cook, hence the "freshman 15" and it does waste a lot of money very quickly. Saving is mostly about splitting up necessity and wants. Necessities come first, then whatever's left is disposable income or for savings. If you work, it's recommended to put 10% of each cheque into your savings if possible. This will help in emergencies (either actual or financial ones).

Buying generic food brands, clothing from second-hand shops, furniture/big-money items from Kijiji or Craigslist, and doing your research on purchases before buying can save a bit as well. Oh, and sites like Chegg or Slader help a lot with saving money for textbooks if you can find your book on there.

Any questions you have about your loans and all that should be brought up with your financial institution as they can clarify the exact terms for you.
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username2926188
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When I start working, boy am I going to be so hesitant in spending £1 of the money cause I might just go spend all my money on 4 unecessary things. My advice is, nothing. Cause I can relate already lol
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Lyrici3383
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(Original post by emerald7770)
When I start working, boy am I going to be so hesitant in spending £1 of the money cause I might just go spend all my money on 4 unecessary things. My advice is, nothing. Cause I can relate already lol
I don't come from the UK and I'm constantly converting pounds into my local currency in my head and boy I just keep saying " This **** isn't worth it." and leave half of the things back on the shelf and slowly walk away.
The struggle is real and I can relate :')
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mollyanne98
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(Original post by tvuki1)
Any tips for saving money through university? save money though freshers week?
Also when buying essentials for uni is that payed by ourselves or will maintenance loan cover that?? basically does maintenance loan enter bank before i go to university?? And do we get payed the loan for the whole year or term payments??

Hi,

I’m a first year at Derby. With buying my uni essentials I was lucky enough to have my parents lend me some money which I then paid back to them when my maintenance loan came through (about a week into my course). You’ll get your loan in three termly payments, this makes it a little easier to budget.

When your loan comes through, work out how many months this has to last you and budget it out, minus your rent if you need to, so you know how much you will have roughly per month. Even if you don’t stick strictly to this, it’ll give you an idea of how long you need to make that loan last. Lots of people make the mistake of going a bit mad with the loan when it first comes through and then running out of money by the end. I can’t emphasise enough how important it is to know how to budget out your money and stick to your weekly/monthly budget.

If you do this and you see that you are struggling for money a bit, you could get a part-time job. If your course is too intense to allow you the time for a part-time job, then there are other opportunities you could take advantage of. For example, I work as an outreach mentor and social media ambassador for the University of Derby. With this, I can pick and choose what hours I want to work and when. So if I’ve got lots of deadlines coming up then I can reduce the hours I sign up for with outreach to give myself more time and the opposite for if I have a quiet week and need a little more cash.

I’d also recommend trying to cook from scratch where you can, ready meals and take-aways get very expensive very quickly. A basic week’s food for me is about £20 whereas a dominos order can easily be £25+ for one meal. If you like clubbing, then drink before you go out so you’re not buying over-priced drinks and avoid going out too much if you can, as it is a very expensive option when you could have a movie night with friends or something instead.

Hope this helps, let me know if I can help you with anything else!
Molly
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Summerlovin99
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(Original post by mollyanne98)
Hi,

I’m a first year at Derby. With buying my uni essentials I was lucky enough to have my parents lend me some money which I then paid back to them when my maintenance loan came through (about a week into my course). You’ll get your loan in three termly payments, this makes it a little easier to budget.

When your loan comes through, work out how many months this has to last you and budget it out, minus your rent if you need to, so you know how much you will have roughly per month. Even if you don’t stick strictly to this, it’ll give you an idea of how long you need to make that loan last. Lots of people make the mistake of going a bit mad with the loan when it first comes through and then running out of money by the end. I can’t emphasise enough how important it is to know how to budget out your money and stick to your weekly/monthly budget.

If you do this and you see that you are struggling for money a bit, you could get a part-time job. If your course is too intense to allow you the time for a part-time job, then there are other opportunities you could take advantage of. For example, I work as an outreach mentor and social media ambassador for the University of Derby. With this, I can pick and choose what hours I want to work and when. So if I’ve got lots of deadlines coming up then I can reduce the hours I sign up for with outreach to give myself more time and the opposite for if I have a quiet week and need a little more cash.

I’d also recommend trying to cook from scratch where you can, ready meals and take-aways get very expensive very quickly. A basic week’s food for me is about £20 whereas a dominos order can easily be £25+ for one meal. If you like clubbing, then drink before you go out so you’re not buying over-priced drinks and avoid going out too much if you can, as it is a very expensive option when you could have a movie night with friends or something instead.

Hope this helps, let me know if I can help you with anything else!
Molly
Hey molly,
Thanks that was very useful, I defo want to get a part time job but i think like yourself it will have to be something flexible. I think I might have to get my parents to lend me some for essential, Does the essentials add up to quite a bit cuz I know you have to get like pots, Utensils food and stuff for bedroom? What kinda stuff are you cooking for yourself just cuz I don't really cook for myself now, is it like pasta or stir fry ? If you don't mind me asking but do you get much help from your parents or not? Don't really know I should just ask them for money when I'm poor hahahah
Also did you share a bathroom? If you did was it alright or would you recommend en suite
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mollyanne98
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(Original post by tvuki1)
Hey molly,
Thanks that was very useful, I defo want to get a part time job but i think like yourself it will have to be something flexible. I think I might have to get my parents to lend me some for essential, Does the essentials add up to quite a bit cuz I know you have to get like pots, Utensils food and stuff for bedroom? What kinda stuff are you cooking for yourself just cuz I don't really cook for myself now, is it like pasta or stir fry ? If you don't mind me asking but do you get much help from your parents or not? Don't really know I should just ask them for money when I'm poor hahahah
Also did you share a bathroom? If you did was it alright or would you recommend en suite

No problem! I can’t quite remember but I think I spent around £300 for everything I needed (kitchen, bedroom and bathroom stuff) but you could probably do it a bit cheaper than me as I didn’t really search around for the cheapest prices. With food I tend to mainly eat, like you say, pasta and stir-fries but where I can I try to make soup in big batches and freeze it in individual portions (good for using up veg that is near the end of its use by date). Also it helps to bulk out meat with lots of veg (Bolognese is a good one because you can also turn that into a chilli with some spices). I’m quite lucky in that I get money from my grandparents to support me through uni, I use that to pay for my accommodation so then all I have to buy with my maintenance loan is my groceries and anything else I need. The best thing to do is have an open conversation with your parents, let them know anything your concerned about so, if they can, they can help support you through uni. Obviously this depends on their financial situation, but I’m sure they will help you in any way they can.

Molly
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Klix88
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(Original post by Thelma2016)
...
Any idea why I find the second of those websites is being flagged and blocked as a data harvesting risk?

Would strongly advise everyone to avoid it.
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username2769500
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You should be able to get everything you ever want on a minimum wage with a partner earning the same amount so just don't spend it. Go for a walk or something.
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Try and find deals where you can, like discounts etc.

They come in handy when you're nearly skint and need to eat something
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