sunshine1243
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Hi, I’ve just got an unconditional offer from my backup university which means I am now officially going to university next year. I’m just wondering how much money people think I should save (not for food or living costs, just extra stuff)... I would love to know what people think, thank you!
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University of Strathclyde
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(Original post by sunshine1243)
Hi, I’ve just got an unconditional offer from my backup university which means I am now officially going to university next year. I’m just wondering how much money people think I should save (not for food or living costs, just extra stuff)... I would love to know what people think, thank you!
Aaah congrats on your offer sunshine1243 ! Well done

Budgeting at the start of the month will help you massively with saving. What are your income streams? Do you have a part time job or will you be using a student loan? At the start of each month write out your 'starting' amount, and from that set aside a minimum amount you want to save each month. How much you can afford to save depends what you're earning - but if you promise yourself you'll save at least £30 each month for example this will all add up. And any money you have left over at the end of the month you can add in to your savings too.

We chat to students in our role about budgeting all the time, and there's no set amount that works for everyone as your budget will be really unique to you! Some students will love going out every weekend spending up to £100 at a time, whereas others prefer going for lunches with course mates spending around £30 a week. It also depends on where you'll be studying (some cities might be more pricey to live in than others). Mainly it's all up to you and what you want to be able to do with your time! One top tip I'd maybe say is try to keep saving while you're at uni! Make sure to set aside a little emergency fund you can dip in to if needed

Maybe starting with a guideline of around £40 a week could work for you? This could cover your lunches, transport and any social activities hopefully. If there's a week you don't do much then save whatever's left over!

Hope that helps a little! Best of luck and congrats again on your offer

- Caitlin
Official University of Strathclyde Rep
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University of Portsmouth Student Rep
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(Original post by sunshine1243)
Hi, I’ve just got an unconditional offer from my backup university which means I am now officially going to university next year. I’m just wondering how much money people think I should save (not for food or living costs, just extra stuff)... I would love to know what people think, thank you!
Hiya!

Congratulations on your offer, that's great news!

Budgeting can be a really tricky thing to master but going to uni offers you the perfect experience to learn! I personally aim to spend around £20/30 on extra things a week. This can include going to shops, out for lunch, out for drinks at a bar or club (when they open again!).

The first few weeks when you settle in to uni and have freshers can be where you spend most but you will get into the swing of having to budget and learning what you can and can't fit into a week. You'll be at uni for roughly 30 weeks so perhaps from now until you start uni aim to save around £40 a week which would mean by next September you could have about £600 saved for your time at uni!

I think having a monzo account has really helped me save as I have the settings switched so that any spare change after I have purchased something goes into a savings account, and all the pennies really add up! Also having a physical piggy bank can help save as it means I cant take out any of the money I put in!

Best of luck! Sam- Official Student Rep
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