How to budget student loan?
Hello,
I’m due to start university next month and my student loan will be starting then too (I have a little boy so a dependent that I’ll need to take into account)
How do you budget out your student loan?
I don’t have a student account as I don’t qualify for a OD due to bad credit history.
Thank you
I’m due to start university next month and my student loan will be starting then too (I have a little boy so a dependent that I’ll need to take into account)
How do you budget out your student loan?
I don’t have a student account as I don’t qualify for a OD due to bad credit history.
Thank you
If you need/want to ask question just DM me and I'll help where I can. I think what helped me was calculating how much I could spend per week, then having a savings account with the majority of my loan. I'd transfer my weekly budget to myself on a monday and that way I could keep track of what I was spending per week.
Original post by MollyWA-94
Hello,
I’m due to start university next month and my student loan will be starting then too (I have a little boy so a dependent that I’ll need to take into account)
How do you budget out your student loan?
I don’t have a student account as I don’t qualify for a OD due to bad credit history.
Thank you
I’m due to start university next month and my student loan will be starting then too (I have a little boy so a dependent that I’ll need to take into account)
How do you budget out your student loan?
I don’t have a student account as I don’t qualify for a OD due to bad credit history.
Thank you
Hey @MollyWA-94!
I normally work out how much of my loan I have left in each instalment after rent and then use the rest to budget
Include how much you would spend each week on a food shop - I'm not sure how much It would be for you maybe £50
And budget for toiletries - wash stuff, toilet rolls etc
You may want some money for going out for days etc
And clothes for yourself and your son
Do you have to enrol your boy in a nursery at all? And would this cost anything extra - as you may need to budget for this as well
Once you have sorted your budget, make sure you absolutely stick to it as you don't want to end up with no money - as that would cause more stress than needed!
I hope this helps you out!
Eloise - Official Student Rep
Quick Reply
Related discussions
- Tips on Making the Most of Your Maintenance Loan
- Paying for university accomodation
- How much money should you have in order to do a masters degree?
- Budgeting
- Budgeting at University:
- ACCOMMODATION uni
- financing uni😭
- How can I afford to go to university as a mature student?
- is spending £10 a day at uni too much?
- The Budgeting Spreadsheet and Tips thread
- Is student finance enough?
- Tools to Manage your Finances at University
- How does anyone afford uni?
- Welcome to Money & Finance
- Postgraduate student finance: what you need to know
- Cheap Accom needed. London !
- Accommodation
- Financial stress
- Finances : How to Budget
- Am I spoilt? £140
Latest
Trending
Last reply 1 week ago
I think I have a Cifas Marker on my name , can I still open any banks ?Last reply 3 weeks ago
Has anyone had their student finance paid into their partners or parents bank?Last reply 1 month ago
Introduction to UK Financial regulations and professional integrity SCAMTrending
Last reply 1 week ago
I think I have a Cifas Marker on my name , can I still open any banks ?Last reply 3 weeks ago
Has anyone had their student finance paid into their partners or parents bank?Last reply 1 month ago
Introduction to UK Financial regulations and professional integrity SCAM
