Turn on thread page Beta

Are you supposed to save up loads of money for university? watch

    • #1
    • Thread Starter
    #1

    I'll hopefully be starting university next September and I've been looking at past threads on here and I'm seeing loads of people that have saved up thousands for uni and I'm worried as I currently have about £20 to my name I'm not currently working but hoping to get a job when exams have finished. Do you have to save up a lot?
    Offline

    21
    (Original post by Anonymous)
    I'll hopefully be starting university next September and I've been looking at past threads on here and I'm seeing loads of people that have saved up thousands for uni and I'm worried as I currently have about £20 to my name I'm not currently working but hoping to get a job when exams have finished. Do you have to save up a lot?

    It's generally a good idea. You'd be dammed hard pushed to manage without sufficent funds. Uni is expensive as f***.
    Offline

    7
    ReputationRep:
    (Original post by Anonymous)
    I'll hopefully be starting university next September and I've been looking at past threads on here and I'm seeing loads of people that have saved up thousands for uni and I'm worried as I currently have about £20 to my name I'm not currently working but hoping to get a job when exams have finished. Do you have to save up a lot?
    It's difficult to say how much you should save up because everyone is in a different position. E.g. would your parents be helping you out with some of the stuff you have to buy? Also it depends on the lifestyle you're going to live, some people may go out every night or have to get public transport a lot which would work out to be pretty expensive, while for some people as long as they have enough money to pay the uni fees like acommodation and to eat, that would be fine. You can always get a part time job while at uni which would help you to get by just fine! But it probably is a good idea to save up a bit to get you started.
    Offline

    18
    ReputationRep:
    Why not make some financial calculations? Use the student finance online calculator to find a prediction of what you'll get from them and if your parents are well off discuss whether they'll be giving you any support. When you have a figure to work from google the accommodation costs at your most likely choices of uni (you can do this again once you'll got 2 choices finalised) and deduct that. You want to have at least £60 a week left over - ideally more like £80. Don't rely on getting a job in the summer, not everyone can find one.
    Offline

    19
    ReputationRep:
    (Original post by Anonymous)
    I'll hopefully be starting university next September and I've been looking at past threads on here and I'm seeing loads of people that have saved up thousands for uni and I'm worried as I currently have about £20 to my name I'm not currently working but hoping to get a job when exams have finished. Do you have to save up a lot?
    It depends entirely on your household income.

    If your family's poor, you'll get enough support from the government to live off and won't need savings.

    If they're rich, they can support you and you won't need savings.

    If they're somewhere in between, you might be in trouble. You'll want to look at how much student finance you'll get, and see whether it's enough or if it needs to be topped up with savings, a part-time job in term time or support from your parents if they can help you out.
 
 
 
Reply
Submit reply
Turn on thread page Beta
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Updated: October 26, 2017
Poll
Do you want your parents to be with you when you collect your A-level results?
Useful resources

Groups associated with this forum:

View associated groups

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

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