What is the ideal amount of money to live off at Uni? Watch

KA99_
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Hey guys, just a follow up to my question (https://www.thestudentroom.co.uk/sho....php?t=5502252).

I forgot to mention that I'm actually transferring University, into the second year. So I realised that I've actually got my first year maintenance loan, which remains largely untouched, as I was living at home.

My plan is to add some of this money to my current £1300 (my £7300 loan minus £6000 for accommodation). But I don't want to treat my first year loan like an overdraft, where I would use my 1.3k and then start eating at my first year loan as I want to learn to budget. I want to take a certain amount of this first year loan, such as £1000, and add it to my £1300 to make £2300.

So theoretically, would £2300 be a good amount of money to live off at Uni? Or maybe its too much? Should I take £700 from my first loan instead to make £2000? etc etc, I think you guys get the gist.

Thanks!
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KA99_
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Princepieman
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Ideal is variable.

If you're the über social type and do everything that a middle class kid at uni typically does (so joining sports, the gym, trips in the holidays, going out, eating out on occasion, dates, ocassionlly buying new clothes and ofc the necessities like food, toiletries/washing stuff, haircuts and rent/bills) - you're looking at £12-15k for the year depending on where you are.

If you're less social and more frugal, you could manage on £8-12k depending on where you are - anything below that will be an incredible struggle.

EDIT: this is including accomodation.. I'd say excluding accomodation:

for the first category:
£4.5-7.5k

second category:
£2.5-4k

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KA99_
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(Original post by Princepieman)
Ideal is variable.

If you're the über social type and do everything that a middle class kid at uni typically does (so joining sports, the gym, trips in the holidays, going out, eating out on occasion, dates, ocassionlly buying new clothes and ofc the necessities like food, toiletries/washing stuff, haircuts and rent/bills) - you're looking at £12-15k for the year depending on where you are.

If you're less social and more frugal, you could manage on £8-12k depending on where you are - anything below that will be an incredible struggle.

EDIT: this is including accomodation.. I'd say excluding accomodation:

for the first category:
£4.5-7.5k

second category:
£2.5-4k

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People are really out here using 4.5k-7k minus accommodation? Is it just me who thinks thats crazy lmao, where do they even get that music money from?
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√√√√
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(Original post by KA99_)
People are really out here using 4.5k-7k minus accommodation? Is it just me who thinks thats crazy lmao, where do they even get that music money from?
No one who I know...

Spent about 7500

4500 on accommodation

Still went out 2x pw and did everything you'd expect so it wasn't exactly like I was skimping either
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Precious Illusions
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I worked part time at uni and got a loan/bursary so I usually had about £1000 to play with every month which was good. Rent, bills, travel and groceries probably cost about £600 max so I always had money to play with.
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Toni Cipriani
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A few million pounds would be ideal
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clarkey500
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I wouldn't call £8,000 the limit before it's a struggle, but the accommodation costs vary from university to university.

In my first year, I only spent £1,084.71 above £5,454.95 for accommodation (including a deposit for second year), so £6,539.66

In my second year, it's a bit more complicated as I went on a trip to Hungary and the USA using some of the loan money I had left over from first and second years. Accommodation costs were £4,300, after the expenses for the two trips are taken into account it comes to £1,001.51. So £5,301.51 in total.

Therefore, £1,300 is enough to live on and live fairly comfortably, so £2,300 is definitely enough. In the other thread, there are suggestions on how to eat cheaply and then you can see how far your budget goes. Just go with the flow, you don't have to spend your whole budget every week, save it and you may be able to afford some trips on top or keep it till after uni. I might buy a car with some of my leftover money once I have my degree or possibly put the money towards a deposit for a house.
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Princepieman
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(Original post by KA99_)
People are really out here using 4.5k-7k minus accommodation? Is it just me who thinks thats crazy lmao, where do they even get that music money from?
You'd be surprised how many well off people there are at good unis.

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Princepieman
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(Original post by clarkey500)
I wouldn't call £8,000 the limit before it's a struggle, but the accommodation costs vary from university to university.

In my first year, I only spent £1,084.71 above £5,454.95 for accommodation (including a deposit for second year), so £6,539.66

In my second year, it's a bit more complicated as I went on a trip to Hungary and the USA using some of the loan money I had left over from first and second years. Accommodation costs were £4,300, after the expenses for the two trips are taken into account it comes to £1,001.51. So £5,301.51 in total.

Therefore, £1,300 is enough to live on and live fairly comfortably, so £2,300 is definitely enough. In the other thread, there are suggestions on how to eat cheaply and then you can see how far your budget goes. Just go with the flow, you don't have to spend your whole budget every week, save it and you may be able to afford some trips on top or keep it till after uni. I might buy a car with some of my leftover money once I have my degree or possibly put the money towards a deposit for a house.
I'm sorry but £1000 over 40 weeks is not going to even cover decent meals, let alone everything aside from accomodation. That is literally poverty level of consumption.

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bekahw96
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Depends how much your accommodation is, how good you are with money, and how expensive living costs in the area are. I've budgeted £6,000 ish, including rent, bills, and a car. Can't beleive some people are talking about £12,000 here...
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clarkey500
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(Original post by Princepieman)
I'm sorry but £1000 over 40 weeks is not going to even cover decent meals, let alone everything aside from accomodation. That is literally poverty level of consumption.

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Obviously, we are two different people who live in two different circumstances and spend different amounts of money on food and everything else.

However, I would beg to differ about £25 a week being a ‘poverty level of consumption’. In my student house, I probably eat the most healthy and balanced meals out of anyone in my house. I make all sorts of healthy meals that meet my 5-a-day, if not more all for about £10 a week. It can be done all you need to do is know some cheap recipes and cook them. I write down recipes that I find online into a book and tweak them to suit me and the majority of these recipes are cheap and make about 5 portions, which if you freeze about 2-3 of them to have later, you can have a variety of recipes in a week. You can also add lots of vegetables or pulses, which are pretty cheap, to many recipes to add to the flavour and bulk it out.

Here is a recipe I tried the other day and it was delicious and fairly cheap per portion! You can always change it a little to suit your tastes and price.
https://www.bbc.com/food/recipes/one...rizo_and_15611

You can also make curries, chilis, casseroles etc. I sometimes even cook a roast dinner at university – hardly a ‘poverty level of consumption’.
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Princepieman
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(Original post by clarkey500)
Obviously, we are two different people who live in two different circumstances and spend different amounts of money on food and everything else.

However, I would beg to differ about £25 a week being a ‘poverty level of consumption’. In my student house, I probably eat the most healthy and balanced meals out of anyone in my house. I make all sorts of healthy meals that meet my 5-a-day, if not more all for about £10 a week. It can be done all you need to do is know some cheap recipes and cook them. I write down recipes that I find online into a book and tweak them to suit me and the majority of these recipes are cheap and make about 5 portions, which if you freeze about 2-3 of them to have later, you can have a variety of recipes in a week. You can also add lots of vegetables or pulses, which are pretty cheap, to many recipes to add to the flavour and bulk it out.

Here is a recipe I tried the other day and it was delicious and fairly cheap per portion! You can always change it a little to suit your tastes and price.
https://www.bbc.com/food/recipes/one...rizo_and_15611

You can also make curries, chilis, casseroles etc. I sometimes even cook a roast dinner at university – hardly a ‘poverty level of consumption’.
yeah.. £10 would get you like 2-3 lots of protein based ingredients. Nevermind the veggies, fruits, dairy, spices, cereals, breas, rice, etc etc etc

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SomMC1
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(Original post by Princepieman)
I'm sorry but £1000 over 40 weeks is not going to even cover decent meals, let alone everything aside from accomodation. That is literally poverty level of consumption.

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^ agreed
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quasa
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(Original post by KA99_)
Hey guys, just a follow up to my question (https://www.thestudentroom.co.uk/sho....php?t=5502252).

I forgot to mention that I'm actually transferring University, into the second year. So I realised that I've actually got my first year maintenance loan, which remains largely untouched, as I was living at home.

My plan is to add some of this money to my current £1300 (my £7300 loan minus £6000 for accommodation). But I don't want to treat my first year loan like an overdraft, where I would use my 1.3k and then start eating at my first year loan as I want to learn to budget. I want to take a certain amount of this first year loan, such as £1000, and add it to my £1300 to make £2300.

So theoretically, would £2300 be a good amount of money to live off at Uni? Or maybe its too much? Should I take £700 from my first loan instead to make £2000? etc etc, I think you guys get the gist.

Thanks!
if living by self (and excluding rent, tuition, transport) I would say £20/week is doable - not ideal but is the minimum I would say (your social life does take a hit if you drink / club but there is more than 1 way to skin a chicken)
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SomMC1
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I'm going to uni next year, most probably in London.
London is notoriously more expensive than anything else. My brother spent around 10,000 pounds without rent on food, misc items, drinking, partying, etc. He lives in Scotland, so I can imagine it'll be maybe 20-30% more for me as London is more expensive. He doesn't seem to buy budget food or discount food in general so that might be why the amount spent is quite high. Not to mention living, which is going to be 400 pounds/week for me.
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Claire461
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I lived on my State pension over the 4 years I was at uni and also supported my grandson through college for whom I get Child Benefit, but that goes on bus fares and lunches.
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Princepieman
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(Original post by SomMC1)
I'm going to uni next year, most probably in London.
London is notoriously more expensive than anything else. My brother spent around 10,000 pounds without rent on food, misc items, drinking, partying, etc. He lives in Scotland, so I can imagine it'll be maybe 20-30% more for me as London is more expensive. He doesn't seem to buy budget food or discount food in general so that might be why the amount spent is quite high. Not to mention living, which is going to be 400 pounds/week for me.
Ok, £10k is just ridiculous - you're not a grad yet there's no need to spend that much money.

The upper limit for reasonable student spending is probably £8k and lower limit probably £2k.

Anything above or below that is just insanity.




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SomMC1
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(Original post by Princepieman)
Ok, £10k is just ridiculous - you're not a grad yet there's no need to spend that much money.

The upper limit for reasonable student spending is probably £8k and lower limit probably £2k.

Anything above or below that is just insanity.

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I'm not entirely sure what everything he was buying, but my parents were giving him money monthly and I guess he just spent it.

I can imagine spending 7-8,000 pounds a year easily. Eating out regularly but not every day or not buying the most expensive steaks and you can easily save hundreds. Or not buying starbucks twice a day but rather making own coffee with own machine. But at the same time, if you dont live the budgeting life you will easily spend a lot. Thats what I assume though. I'll see next year how much I end up spending.
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TimmonaPortella
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I don't think you can start talking about 'ideal' as a student until you get to around £80 - 100 disposable weekly tbqh.

Then you can eat reasonably well, with grown-up products like meat and fish and fruit, buy yourself a coffee or a sandwich out without fretting, go out for drinks without feeling compelled to down a bottle of Glen's Vodka first, have a pub lunch or a modest meal out on the weekend if you feel like it, etc.
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