Student finance

I’m going to Bangor in September and I’ve left accommodation quite late, so the only rooms left were expensive ones. I’m planning to get a Job and my parents have also promised to help me financially, but I’m worried that I might have nothing left by the end, will I be alright? (BTW for context I’m 18 and just finished year 13)

Reply 1

Lancaster Student Ambassador

Official Rep

Original post by Ben_464747

Hi,

First, have a look at the gap between the accommodation cost and your student finance allocation (should you have applied for it) and then see what your parents will be willing to financially help with. Should there be an amount left then this is what you will need to earn to pay your accommodation and then you will need to consider living costs. There are lots of websites with meal plans and what uni students spend in a day so have a look at these to get an idea of what you might expect to pay a month.

Getting a job and saving what you earn should mean you have more than enough so please don't worry! But should you not, don't be afraid to ask your parents if you need more.

Look into spreadsheets and weekly budgeting and then keeping some money to one side just in case or if you need more one week be that for going out with your friends or new clothes etc.

If you are working regularly, savings accounts like digital regular savers are great to put chunks of money away each month (they usually have a higher interest rate than standard savings account). Now, you can take money back out of these but I have found that putting money into it and not touching it and then having a separate savings account for any more that I can use day to day is a much better way of keeping track of money and ensuring I always have some should I need it

Also, could you ask to be put on the waitlist for the cheaper accommodation?

Hope this helps, Ella - Lancaster University Student Ambassador