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Living in the UK with a budget of £1200 per month?

Planning on studying in Warwick for Economics. Is £1200 per month enough? This covers all for my rent to my meals. Can I make savings out of it ?

Reply 1

squeakysquirrel

Original post by itsalifiman11

Planning on studying in Warwick for Economics. Is £1200 per month enough? This covers all for my rent to my meals. Can I make savings out of it ?

Absolutely - you won't be 5* living but that is more than sufficient. My daughter survives on that in London and still manages to save money

Reply 2

ebam_uk

Original post by squeakysquirrel

Absolutely - you won't be 5* living but that is more than sufficient. My daughter survives on that in London and still manages to save money

saving is the key, if u got a budget of 1200, save and invest and create more income..

Reply 3

RedGiant

I know people in Coventry (at Warwick uni) who live on half of that.

Reply 4

itsalifiman11

Original post by RedGiant

I know people in Coventry (at Warwick uni) who live on half of that.

How? If I take the en suite accommodation. Would it be enough? What's the rough expenditure on meals?

Reply 5

FutureFinance

Official Rep

Original post by itsalifiman11

Planning on studying in Warwick for Economics. Is £1200 per month enough? This covers all for my rent to my meals. Can I make savings out of it ?

Hi there @itsalifiman11

To make sure that your £1200 a month can last you properly, you need to create a budget and stick to it!

You might be able to save money if you budget properly and are quite controlled with your money :smile:

The best way to budget is to work out the money that you need to spend on essentials such as rent, food, and travel. Once you've done this you need to subtract that from the £1200 that you have. Once you have done this, it's best to set aside some money to treat yourself with and then the rest try and put into savings if you want to!

I hope this helps and let me know if you'd like any more budgeting tips!

Sarah,
Marketing Graduate :smile: