financing uniðŸ˜
hey im going to UoM in september and i literally have no idea how to budget for it because i dont think my loans are gonna cover rent and food, nvm anything elseðŸ˜ðŸ˜ does anybody have any tips who already goes to uni plss 😔😔
Original post by Euapp
Have you done a simulation of what SFE will give you and can your parents make up even a part of the shortfall between what you will be given and the full maintenance loan?
i know what im getting as my loans already and it is almost the maximum amount but even with that my accommodation will be so expensive that im not sure how to have enough money afterwards for all essentials. my parents are trying their best to have money they can give me monthly but it wont be much
Original post by lilyhangout
i know what im getting as my loans already and it is almost the maximum amount but even with that my accommodation will be so expensive that im not sure how to have enough money afterwards for all essentials. my parents are trying their best to have money they can give me monthly but it wont be much
With a full maintenance loan you should easily be able to manage. Accommodation in the south ( outside of London) is far more expensive and students manage without having to get help from parents, as long as they don’t go spending it all in the first week on clothes and drink! (Just checked the price and it’s between roughly £150 and £170/ week for an en-suite self catered room, bills included, so you’ll require £6500 on average for the years accommodation- 41 weeks on average, leaving over £3000 for food and other bits and pieces, or £1000 for each 10 week term, assuming you’ll get a holiday job. £100/ week is doable!!)
A summer job will give you some extra for luxuries, but normal student life with a couple of evenings out a week if you’re in halls with an en-suite room can be covered by the loan. ( private accommodation will be cheaper afterwards)
(edited 1 year ago)
Original post by lilyhangout
i know what im getting as my loans already and it is almost the maximum amount but even with that my accommodation will be so expensive that im not sure how to have enough money afterwards for all essentials. my parents are trying their best to have money they can give me monthly but it wont be much
Manchester Uni has a breakdown of estimated living costs on its website:
https://www.manchester.ac.uk/study/experience/student-life/living-costs/
As others said, you will need to think carefully about your accommodation so that you have enough left to live off. If they are available, options with a shared bathroom are usually cheaper. But if you can't do without an ensuite then you need to look at working through the summer (or during uni) to have extra cash to splash. It might also be worth looking at accommodation options with private suppliers (eg Unite Students, Student Roost, etc), as they can work out cheaper. Just make sure you read the booking conditions thoroughly and check how many weeks your contract will run for.
Original post by Euapp
With a full maintenance loan you should easily be able to manage. Accommodation in the south ( outside of London) is far more expensive and students manage without having to get help from parents, as long as they don’t go spending it all in the first week on clothes and drink! (Just checked the price and it’s between roughly £150 and £170/ week for an en-suite self catered room, bills included, so you’ll require £6500 on average for the years accommodation- 41 weeks on average, leaving over £3000 for food and other bits and pieces, or £1000 for each 10 week term, assuming you’ll get a holiday job. £100/ week is doable!!)
A summer job will give you some extra for luxuries, but normal student life with a couple of evenings out a week if you’re in halls with an en-suite room can be covered by the loan. ( private accommodation will be cheaper afterwards)
A summer job will give you some extra for luxuries, but normal student life with a couple of evenings out a week if you’re in halls with an en-suite room can be covered by the loan. ( private accommodation will be cheaper afterwards)
thank you so much!! this was super helpful <3
I’m on maximum student loan at notts and I do manage to get by. I imagine Manchester will be similar price tbf. Try not to stress too much as unis do offer support especially atm with cost of living. Bursaries and scholarships exist as does financial aid. Ask student finances if you have any issues 
Original post by Evea2003
I’m on maximum student loan at notts and I do manage to get by. I imagine Manchester will be similar price tbf. Try not to stress too much as unis do offer support especially atm with cost of living. Bursaries and scholarships exist as does financial aid. Ask student finances if you have any issues
thank you!! <3
Idk why people complain about having no money at uni
I had so much I didn't know what to spend it on.
I had so much I didn't know what to spend it on.
UoM accommodation is awful and rent is extortionate for the quality of accommodation we have here - there has been a rent strike going on because of this and the uni ordered bailiffs to forcefully remove protestors from a building.
That being said- the university gives bursaries out- £2000 - £1000 per yr and if you’re near max maintenance loan you’ll be eligible, and it should equate to more than enough!
That being said- the university gives bursaries out- £2000 - £1000 per yr and if you’re near max maintenance loan you’ll be eligible, and it should equate to more than enough!
Original post by Hotheaded
UoM accommodation is awful and rent is extortionate for the quality of accommodation we have here - there has been a rent strike going on because of this and the uni ordered bailiffs to forcefully remove protestors from a building.
That being said- the university gives bursaries out- £2000 - £1000 per yr and if you’re near max maintenance loan you’ll be eligible, and it should equate to more than enough!
That being said- the university gives bursaries out- £2000 - £1000 per yr and if you’re near max maintenance loan you’ll be eligible, and it should equate to more than enough!
yeah i saw all that on tiktok! its insane, mainly the whole reason why i got worried about my money and how i was gonna afford itðŸ˜
but thank you, hopefully i will have enough <33
Hey there!
Budgeting at university can be very difficult, especially when your maintenance loan is unlikely to cover expenses. I was in the same situation while at university, so here a few tips I can think of which may help you:
- Batch cooking meals - This saved me while at university as it is so much cheaper and also way more convenient for the days that I needed a quick dinner. I would cook big portions of bolognese, chilli, curry, and soup etc and keep them portioned up in the freezer. This also means that I had little food waste as I would be using all of the ingredients, rather than a portion.
- Monzo bank account - Monzo is an amazing account to help budgeting finances at university. It has different pots which can be used to help save and it also has great features such as 'split the bill', where you are able to split costs with friends if you are sharing any shopping. This helped me and my flatmates out so much as it meant we were equally paying for house items. We would also regularly cook dinners together so splitting the bill on Monzo made it easier to split the costs out fairly. I would put £60 a week into my Monzo account and this would be my weekly budget for my food shop and any other going out expenses. Doing this meant I was able to keep track of my spending each week, without going over.
- Shopping at Aldi/Lidl - To keep food shop costs down I would shop at cheaper supermarkets such as Lidl and Aldi. Once I had done my big food shop a week this meant I didn't need to pop to any of the more expensive supermarkets as I had all my food for the week sorted.
- Getting a job - During my second year I got a job on-campus which meant I was earning a bit of extra money. These types of jobs are really easy and convenient as the university are very understanding if you need to cut your hours during certain times such as during exam periods. I recommend these types of jobs as they are pretty well paid and are also a good way to meet new people on campus. Alternatively you could get a zero-hour contract job in retail or hospitality as this means you'd be able to choose your hours each week depending on your availability. If you do decide to get a job, I'd say try not to work more than two or three days a week as it can be so easy to start falling behind in your uni work.
- Go out on student nights - If you are a fan of going out, I'd recommend going out on the student nights as drinks and events will be a lot cheaper. Also try and go to student bars or bars which have good deals on as this will save you a lot of money.
- Take a packed lunch - If your in uni all day I definitely recommend taking lunch with you. I would usually take a sandwich or salad with me, while a lot of my friends would buy food on-campus and it's crazy how much money you can save doing this as food in the canteens and cafes can be quite expensive.
I hope this helps and best of luck!
Scarlet - Sheffield Hallam Student Ambassador
Budgeting at university can be very difficult, especially when your maintenance loan is unlikely to cover expenses. I was in the same situation while at university, so here a few tips I can think of which may help you:
- Batch cooking meals - This saved me while at university as it is so much cheaper and also way more convenient for the days that I needed a quick dinner. I would cook big portions of bolognese, chilli, curry, and soup etc and keep them portioned up in the freezer. This also means that I had little food waste as I would be using all of the ingredients, rather than a portion.
- Monzo bank account - Monzo is an amazing account to help budgeting finances at university. It has different pots which can be used to help save and it also has great features such as 'split the bill', where you are able to split costs with friends if you are sharing any shopping. This helped me and my flatmates out so much as it meant we were equally paying for house items. We would also regularly cook dinners together so splitting the bill on Monzo made it easier to split the costs out fairly. I would put £60 a week into my Monzo account and this would be my weekly budget for my food shop and any other going out expenses. Doing this meant I was able to keep track of my spending each week, without going over.
- Shopping at Aldi/Lidl - To keep food shop costs down I would shop at cheaper supermarkets such as Lidl and Aldi. Once I had done my big food shop a week this meant I didn't need to pop to any of the more expensive supermarkets as I had all my food for the week sorted.
- Getting a job - During my second year I got a job on-campus which meant I was earning a bit of extra money. These types of jobs are really easy and convenient as the university are very understanding if you need to cut your hours during certain times such as during exam periods. I recommend these types of jobs as they are pretty well paid and are also a good way to meet new people on campus. Alternatively you could get a zero-hour contract job in retail or hospitality as this means you'd be able to choose your hours each week depending on your availability. If you do decide to get a job, I'd say try not to work more than two or three days a week as it can be so easy to start falling behind in your uni work.
- Go out on student nights - If you are a fan of going out, I'd recommend going out on the student nights as drinks and events will be a lot cheaper. Also try and go to student bars or bars which have good deals on as this will save you a lot of money.
- Take a packed lunch - If your in uni all day I definitely recommend taking lunch with you. I would usually take a sandwich or salad with me, while a lot of my friends would buy food on-campus and it's crazy how much money you can save doing this as food in the canteens and cafes can be quite expensive.
I hope this helps and best of luck!
Scarlet - Sheffield Hallam Student Ambassador
Original post by lilyhangout
hey im going to UoM in september and i literally have no idea how to budget for it because i dont think my loans are gonna cover rent and food, nvm anything elseðŸ˜ðŸ˜ does anybody have any tips who already goes to uni plss 😔😔
Quick Reply
Related discussions
- Which is better Accounting & Finance or separate Finance btw both (BA)???
- Economics vs Finance
- Student Finance for Undergrads!
- finance or finance and accounting
- Msc finance
- Masters in Finance (advice)
- Finance Jobs Made Simple: Find Your Fit Today
- Please Help! Seek input on University selection for Finance
- Bsc Accouting and finance or Bsc Finance
- Student Finance: A Rough Guide and Where to Access Help!
- LSE MSc Finance 2024-25
- Choosing uni courses
- NHS learning support fund
- Bsc accounting and finance or accounting and management
- I need some help
- English to Welsh finance change
- a level eco and a lvl maths ?
- Alison online course
- SEO London for non ethnic minorities
- Durham BA Accounting and Finance Vs Bristol BSc Finance
Latest
Trending
Last reply 2 weeks ago
Can i receive student finance while on Universal credit and PIP?Posted 1 month ago
Student Finance ineligible, dubious reasons , re-evaluation and appealsLast reply 1 month ago
2024 applicants: do you understand how student finance works?Last reply 1 month ago
withdrawn from university due to non payment of tuition feesTrending
Last reply 2 weeks ago
Can i receive student finance while on Universal credit and PIP?Posted 1 month ago
Student Finance ineligible, dubious reasons , re-evaluation and appealsLast reply 1 month ago
2024 applicants: do you understand how student finance works?Last reply 1 month ago
withdrawn from university due to non payment of tuition fees
