How much money do I need for uni after rent? - Outside London

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zoe.nyaku
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I am going to uni next year and will most likely be going Leicester, so not as expensive as London. After rent, how much do I need to live off for the year? What monthly costs should I consider? My loan is going to cover my rent and that's it, my parents will be giving me 1k and I will have saved 1k leaving me with 2k for whole year. Is that enough?
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Interea
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(Original post by zoe.nyaku)
I am going to uni next year and will most likely be going Leicester, so not as expensive as London. After rent, how much do I need to live off for the year? What monthly costs should I consider? My loan is going to cover my rent and that's it, my parents will be giving me 1k and I will have saved 1k leaving me with 2k for whole year. Is that enough?
Depends how much you eat/wash your clothes. I spent about £20-£25 a week on food, tried to limit eating out, washed my clothes as infrequently as possible (so maybe once a week, washes cost £2.90 each), used a clothes horse rather than a tumble drier to save the extra £2ish, and tried to buy toiletries/cleaning supplies while they were on offer. There are also more infrequent costs to consider - clothes replacements, public transport, stationery, alcohol/nights out, birthday/Christmas gifts, society/sports club/gym memberships etc.

Overall I averaged about £50 a week during term time, varying between £3 and about £150 depending on what extra costs came up during each week. You could likely spend much less than this though (I was struggling a lot so spent a lot on trains home!), so 2k might be just about doable.
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obstruct
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are you planning on getting a part time job?

i'd say it is definitely doable as long as you're smart! buy things that don't go out of date quickly and save money by limiting yourself. if you can i'd definitely recommend getting a job, i live in leicester (not where i go to uni) and it is fairly average - there's a lot of cheaper supermarkets like lidl and aldi that uni students tend to shop in

washign is expensive so consider hand washing / going for a cheaper laundrette and consider any other payments such as nights out/ transport to placement/uni/ travel back home for holidays etc.

don't stress over money too much, it'll all figure out. if you can, perhaps have a look at grants/bursaries offered by your uni? and don't forget over periods you're at home you'll most probably save money as you won't be out all the time. your uni will no doubt have a specialist team that can help you manage your money if you're really struggling

my advice would be to always have more money than what you need because you never know what you might want - additional clothes, books, course materials etc. but money managing wlel will be fine and your student overdraft (although i dont recommend going into it) is always there if you need it

let me know if you've got any other questions or want to know anything else x
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marple
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(Original post by zoe.nyaku)
I am going to uni next year and will most likely be going Leicester, so not as expensive as London. After rent, how much do I need to live off for the year? What monthly costs should I consider? My loan is going to cover my rent and that's it, my parents will be giving me 1k and I will have saved 1k leaving me with 2k for whole year. Is that enough?
Assuming you move into a student house (privately rented, not university accommodation) for your second year as most 2nd years do, you will also need to factor in a deposit and probably rent over the summer months. Many/most contracts are for 12 months and often run from July, so you will be paying rent over summer, before your second year student loans come in.
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zoe.nyaku
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(Original post by Interea)
Depends how much you eat/wash your clothes. I spent about £20-£25 a week on food, tried to limit eating out, washed my clothes as infrequently as possible (so maybe once a week, washes cost £2.90 each), used a clothes horse rather than a tumble drier to save the extra £2ish, and tried to buy toiletries/cleaning supplies while they were on offer. There are also more infrequent costs to consider - clothes replacements, public transport, stationery, alcohol/nights out, birthday/Christmas gifts, society/sports club/gym memberships etc.

Overall I averaged about £50 a week during term time, varying between £3 and about £150 depending on what extra costs came up during each week. You could likely spend much less than this though (I was struggling a lot so spent a lot on trains home!), so 2k might be just about doable.
Food isnt going to be a problem, I know I can get my spending down to £15-£20 max a week easily with a mix of ALDI and LIDL, I don't mind using a clothes horse as I don't have a tumle dryer at home anyway, so it wont be an adjustment at all, and I will probably do one big weekly wash to reduce costs. Gym membership my parents will be paying as well as my phone bill. However, I know I am a person that likes to go out a lot, so I'm not sure how to factor in social costs.I want to be smart with money but I don't want to sacrifice my social life so I'm not sure if ill need more thank 2k in that regard
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Interea
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(Original post by zoe.nyaku)
Food isnt going to be a problem, I know I can get my spending down to £15-£20 max a week easily with a mix of ALDI and LIDL, I don't mind using a clothes horse as I don't have a tumle dryer at home anyway, so it wont be an adjustment at all, and I will probably do one big weekly wash to reduce costs. Gym membership my parents will be paying as well as my phone bill. However, I know I am a person that likes to go out a lot, so I'm not sure how to factor in social costs.I want to be smart with money but I don't want to sacrifice my social life so I'm not sure if ill need more thank 2k in that regard
You can probably factor it in, but be careful to give yourself a budget for a night out - I had plenty of flatmates who didn't and would wake up to find an £80+ charge on their debit cards! What you need to do is work out how many weeks of the year you'll be paying for yourself (i.e. living at uni), divide the 2k between them, and subtract maybe £30 a week for food/washing/toiletries/cleaning supplies. See what's left, putting some aside for emergencies/summer rent for your year 2 home, and work out how much that means you can spend a week on socialising. If you stick to whatever budget you calculate then you should be fine.
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zoe.nyaku
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(Original post by obstruct)
are you planning on getting a part time job?

i'd say it is definitely doable as long as you're smart! buy things that don't go out of date quickly and save money by limiting yourself. if you can i'd definitely recommend getting a job, i live in leicester (not where i go to uni) and it is fairly average - there's a lot of cheaper supermarkets like lidl and aldi that uni students tend to shop in

washign is expensive so consider hand washing / going for a cheaper laundrette and consider any other payments such as nights out/ transport to placement/uni/ travel back home for holidays etc.

don't stress over money too much, it'll all figure out. if you can, perhaps have a look at grants/bursaries offered by your uni? and don't forget over periods you're at home you'll most probably save money as you won't be out all the time. your uni will no doubt have a specialist team that can help you manage your money if you're really struggling

my advice would be to always have more money than what you need because you never know what you might want - additional clothes, books, course materials etc. but money managing wlel will be fine and your student overdraft (although i dont recommend going into it) is always there if you need it

let me know if you've got any other questions or want to know anything else x
My main issue is first year. I am doing a foundation year and when I start my actual degree I will get the NHS bursary for £5000, so I will deffo have enough money for uni with that grant plus the £6000 I will get from student finance and money from my parents. Its just for the foundation year where money is a problem becuase, I don't have that grant so I have to rely on savings and my parents for my living costs etc. I am planning to get a job in the summer and save a large chunk of that money, but I would actually need to get hired lol. When I am at uni, I will definitely be looking for a part time job to supplement my costs. Im not sure how much I should budget for socialising and such and travel because I am used to Tfl so I don't really know how transport works in Leicester
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zoe.nyaku
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(Original post by Interea)
You can probably factor it in, but be careful to give yourself a budget for a night out - I had plenty of flatmates who didn't and would wake up to find an £80+ charge on their debit cards! What you need to do is work out how many weeks of the year you'll be paying for yourself (i.e. living at uni), divide the 2k between them, and subtract maybe £30 a week for food/washing/toiletries/cleaning supplies. See what's left, putting some aside for emergencies/summer rent for your year 2 home, and work out how much that means you can spend a week on socialising. If you stick to whatever budget you calculate then you should be fine.
Yeah, I deffo will need a budget, I'm pretty good with spending on a night out I just have to be mindful about it before I go, if I go without a budget I know I would blow too much money. Ive done the maths and I will be on a 42 week contract and have roughly 47 a week which is pretty tight. I am probably going to have to work more this year, or in the summer to be able to have a budget for socials, as my essential costs will be taken care of.
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obstruct
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(Original post by zoe.nyaku)
My main issue is first year. I am doing a foundation year and when I start my actual degree I will get the NHS bursary for £5000, so I will deffo have enough money for uni with that grant plus the £6000 I will get from student finance and money from my parents. Its just for the foundation year where money is a problem becuase, I don't have that grant so I have to rely on savings and my parents for my living costs etc. I am planning to get a job in the summer and save a large chunk of that money, but I would actually need to get hired lol. When I am at uni, I will definitely be looking for a part time job to supplement my costs. Im not sure how much I should budget for socialising and such and travel because I am used to Tfl so I don't really know how transport works in Leicester
i would start looking at large companies for jobs - such as supermarkets and retail outlets (sainsburys, tesco, primark, new look etc) as with many of these you can transfer between stores. so if you get a job now (for example over xmas on the weekends) you can carry on doing it during your current studies then when the time comes to go to uni you can request to transfer to a store in leicester. this way you'll have money saved and will also be generating income when you're here

unfortunately it is hard and money is never easy. just keep in mind a lot of studnets and young people look for work over summer so many of the positions receive a high volume of applications

it's good you're getting the NHS grant as if you do go into your overdraft you can pay it off after your foundation year. start having a look at some student bamk accounts with good overdrafts (most have an interest free £500 one to begin with but have a good look and there might be others)

what uni are you going to? i mention transport because it can be costly if you're going from your accom to the uni or between campuses / to placements. these are factors you should consider and bring into your plan - if you're getting an NHS grant i assume you'll be doing placement so just consider how you'll get to and from uni

also think of other expenses such as learnign to drive etc if you're looking into that too (it really helped me getting this done prior to going to uni)

honestly if you get a job and save as much as you can and then live sensibly when you're here you'll be fine and be the avg student x
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Interea
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(Original post by zoe.nyaku)
Yeah, I deffo will need a budget, I'm pretty good with spending on a night out I just have to be mindful about it before I go, if I go without a budget I know I would blow too much money. Ive done the maths and I will be on a 42 week contract and have roughly 47 a week which is pretty tight. I am probably going to have to work more this year, or in the summer to be able to have a budget for socials, as my essential costs will be taken care of.
It's tight, but by being frugal on things you don't care about you can save the rest for what you do enjoy, especially if you can save up a bit more before you go. (Also top tip is to never underestimate the power of pre drinks- cheap aldi cola, one-off bottle of something purchase, and you can save a ton on nights out! )
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zoe.nyaku
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(Original post by obstruct)
i would start looking at large companies for jobs - such as supermarkets and retail outlets (sainsburys, tesco, primark, new look etc) as with many of these you can transfer between stores. so if you get a job now (for example over xmas on the weekends) you can carry on doing it during your current studies then when the time comes to go to uni you can request to transfer to a store in leicester. this way you'll have money saved and will also be generating income when you're here

unfortunately it is hard and money is never easy. just keep in mind a lot of studnets and young people look for work over summer so many of the positions receive a high volume of applications

it's good you're getting the NHS grant as if you do go into your overdraft you can pay it off after your foundation year. start having a look at some student bamk accounts with good overdrafts (most have an interest free £500 one to begin with but have a good look and there might be others)

what uni are you going to? i mention transport because it can be costly if you're going from your accom to the uni or between campuses / to placements. these are factors you should consider and bring into your plan - if you're getting an NHS grant i assume you'll be doing placement so just consider how you'll get to and from uni

also think of other expenses such as learnign to drive etc if you're looking into that too (it really helped me getting this done prior to going to uni)

honestly if you get a job and save as much as you can and then live sensibly when you're here you'll be fine and be the avg student x
(Original post by Interea)
It's tight, but by being frugal on things you don't care about you can save the rest for what you do enjoy, especially if you can save up a bit more before you go. (Also top tip is to never underestimate the power of pre drinks- cheap aldi cola, one-off bottle of something purchase, and you can save a ton on nights out! )
Haha yeah me and pre drinks are best friends, club drink prices are horrendous, even if I have the money I try not to buy them! ALDI and LIDL knock offs are also my best friends, so I can deffo pinch money there lol
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zoe.nyaku
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(Original post by obstruct)
i would start looking at large companies for jobs - such as supermarkets and retail outlets (sainsburys, tesco, primark, new look etc) as with many of these you can transfer between stores. so if you get a job now (for example over xmas on the weekends) you can carry on doing it during your current studies then when the time comes to go to uni you can request to transfer to a store in leicester. this way you'll have money saved and will also be generating income when you're here

unfortunately it is hard and money is never easy. just keep in mind a lot of studnets and young people look for work over summer so many of the positions receive a high volume of applications

it's good you're getting the NHS grant as if you do go into your overdraft you can pay it off after your foundation year. start having a look at some student bamk accounts with good overdrafts (most have an interest free £500 one to begin with but have a good look and there might be others)

what uni are you going to? i mention transport because it can be costly if you're going from your accom to the uni or between campuses / to placements. these are factors you should consider and bring into your plan - if you're getting an NHS grant i assume you'll be doing placement so just consider how you'll get to and from uni

also think of other expenses such as learnign to drive etc if you're looking into that too (it really helped me getting this done prior to going to uni)

honestly if you get a job and save as much as you can and then live sensibly when you're here you'll be fine and be the avg student x
Yeah thats the issue, so many people are going to be applying for jobs in the summer! I have never had a proper part time job so I am going to try look for one after December mocks in a chain store like you said so I can transfer. I have a feeling it might take a while to find my first job however I would rather struggle finding one now to eventually get it before I go to uni, instead of scrambling to get one when I am there. I do work now, it is just very on and off work so I save 90% of what I make for the time being since it isn't stable.

I am planning to go to Leicester university, and looking at accoms I will probably be off-campus to save money, so travel costs will be factored in there, however I am deffo going to make use of my bike. I probably will have to get a good overdraft and pay it off with the grant. I am lucky with placement costs, they start in 2nd year and by then I will have the grant and some of the costs are covered so it wont be too bad.

Also, I will be doing driving lessons this year and my parents are paying for that luckily
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