Hey there! Sign in to join this conversationNew here? Join for free

How is your Student Budget panning out? Watch

    • Thread Starter
    Offline

    1
    ReputationRep:
    Several of my friends have spent their loans already (nearing on £2000)


    I was in utter shock, as I've been particularly frugal these past few months, and I'm rather proud


    And I'd over-estimated my clothes budget significantly; university hoodies & leggings are where its at my friends.


    And strawberry puddings from Tesco at 3p a packet are in my view, miracles.
    Offline

    0
    ReputationRep:
    Rather badly. I worked out a budget. But then complete forget rent came out in two payments, which left me with about £15 a week instead of the £60 I thought I'd have.

    I'm about £450 into my overdraft. But to be perfectly honest, I'm not fussed. Even if I max my overdraft by end of first year, I'll still end up with a grand and a half for over the summer.
    Offline

    12
    ReputationRep:
    In one word: badly.
    Offline

    0
    ReputationRep:
    Budget is coming along nicely. I want to work out my next year however I haven't got my placement job yet.

    I have overspent on petrol... but I have worked a little more but petrol wise oh dear. Will have to cut down next month, well attempt to anyway.

    However, spending first loan already is quite silly.... they will find that out next year when they come back with no money having worked loads off over summer to pay off their overdraft.
    Offline

    20
    ReputationRep:
    It sort of worries me that I spend more on alcohol than food :unsure:

    However, I still have a few hundred quid left till my next installment comes, which I think is good, in other words I won't be going bankrupt anytime soon
    Offline

    0
    ReputationRep:
    Yeah - I massively under estimated for the social side of things - back at home I never really went out drinking much - once a month maybe - but now its 4 or 5 times a week at least so the cost has kinda hit me and am well into my overdraft!
    Offline

    14
    ReputationRep:
    Nicely, thanks I spend a very minimal amount on food etc - £15 max a week. TBH my main cost is going to see my bf at the weekends, but it's ok as I've budgeted £119 a week, and so far, I've stayed easily under that most weeks.
    Offline

    0
    ReputationRep:
    I'm £150 away from my overdraft limit. I'm finding food to cost lots more than it used to, and I gave my boyfriend £1000 so that would be why I've worked out that I'll be graduating this year in credit though, so it will all work out :yep:
    Offline

    0
    ReputationRep:
    (Original post by mamooshka)
    Several of my friends have spent their loans already (nearing on £2000)


    I was in utter shock, as I've been particularly frugal these past few months, and I'm rather proud


    And I'd over-estimated my clothes budget significantly; university hoodies & leggings are where its at my friends.


    And strawberry puddings from Tesco at 3p a packet are in my view, miracles.
    I am going to test this tomorrow, if it fails, you my friend are going to Suffer
    Offline

    2
    ReputationRep:
    I don't budget, I never really have. I always plan to but don't bother.

    I find it really hard, I've been working since I was about 15 and I've always paid for everything myself as my parents completely cut me off when it came to money the second I got a job, but I never had to pay rent before so it was always "ooo i want that, i'll buy that" but now I can't do that anymore
    Offline

    14
    ReputationRep:
    How did they spend £2000 in less than 3 months?!
    They'll come to regret it.
    • Thread Starter
    Offline

    1
    ReputationRep:
    (Original post by Rubix)
    I am going to test this tomorrow, if it fails, you my friend are going to Suffer

    You won't believe your eyes:

    http://flickr.com/photos/bb_matt/233...7594381411371/
    Offline

    20
    ReputationRep:
    (Original post by mamooshka)
    You won't believe your eyes:

    http://flickr.com/photos/bb_matt/233...7594381411371/
    ****ing get in!
    Offline

    2
    ReputationRep:
    (Original post by Student2806)
    How did they spend £2000 in less than 3 months?!
    They'll come to regret it.
    That isn't a lot of money at all, it's about £170 a week. If you're including rent and bills in that it's a very very very reasonable figure for a budget.
    • Thread Starter
    Offline

    1
    ReputationRep:
    (Original post by *Sparkle*)
    That isn't a lot of money at all, it's about £170 a week. If you're including rent and bills in that it's a very very very reasonable figure for a budget.
    You're right, I should have explained the fact that they're living at home, and aren't paying for rent, food, bills etc. We're talking alcohol & clothes here.
    Offline

    15
    ReputationRep:
    Fine. Absolutely fine. Didn't set out a budget, but still have loads of money left over.
    Offline

    14
    ReputationRep:
    (Original post by mamooshka)
    You're right, I should have explained the fact that they're living at home, and aren't paying for rent, food, bills etc. We're talking alcohol & clothes here.
    Bloomin heck!!
    I pay ~£90 a week on rent and ~£30 a week on food and my total bill still doesn't come to £170/week.
    Offline

    0
    ReputationRep:
    Since my loan was reduced to £1700 for the whole year and my measly £450 annual bursary was taken away from me my finances have been rubbish. I've been working 7day weeks in order to survive. I may not even be able to pay rent in january. I'm meant to be better off because of my parent's earnings but I'm worse off than those students whose parents are divorced/on benefits/disabled/poor.
    Offline

    1
    ReputationRep:
    (my alcohol spending/my food spending)=(size of sun/size of moon)
    Offline

    1
    ReputationRep:
    My budget is £50 a week (not including rent in that)

    I save most of my maintenance loan and work loads of hours which covers most things.

    I usually go over budget though. This week I've spent 60 =/ And £45 of that was on alcohol.
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Has a teacher ever helped you cheat?
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Write a reply...
    Reply
    Hide
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.