How to finance at Uni?

Im pretty clueless about how budgeting is gonna work when I'm at uni, so I have a few questions.

I have got a student loan and maintenance loan.
The maintenance loan will cover my accommodation costs.

So, I have to finance all my uni living costs with my own money.
I currently have about £3000 in my bank account.

How much do you spend per week at uni? How much should you aim to spend?
How long will £3000 last me?
What happens if you run out of cash? I have no source of income so presumably I'm screwed.
Do most people ask their parents for more money when they run out?

Thanks, I don't really know how to organise my money for uni.

Reply 1

Toby007

10

Original post by Specksavers

Im pretty clueless about how budgeting is gonna work when I'm at uni, so I have a few questions.

I have got a student loan and maintenance loan.
The maintenance loan will cover my accommodation costs.

So, I have to finance all my uni living costs with my own money.
I currently have about £3000 in my bank account.

How much do you spend per week at uni? How much should you aim to spend?
How long will £3000 last me?
What happens if you run out of cash? I have no source of income so presumably I'm screwed.
Do most people ask their parents for more money when they run out?

Thanks, I don't really know how to organise my money for uni.

Depends on where you are in the country...

I'm at Nottingham Trent year 1 and my maintenance loan doesn't cover my accommodation but my parents have been nice enough to give me the difference for that each term, otherwise I get no help from them financially.

What I've learnt from this year is that how much you spend is gonna depend on how much you're gonna go out etc. I go out like once or twice a week and on a budget of £65 per week I'm able to cover expenses for food, going out etc.

Just keep in mind that you'll spend a few hundred in the first couple of weeks because of freshers and textbooks (I spent about £150 on textbooks).

I haven't had a job whilst I've been at uni but have worked over xmas and easter to help finance myself, got about 6 weeks left now and have spent just over £2000 so you should be fine with £3,000. If you can get a job then all the better, because uni can be boring when you can't afford to do anything