Managing your Money
Becoming a full time student means managing your money, and it can be a challenge to budget for everything you need throughout the year. Many students underestimate the amount of money they spend – and overestimate how far their student loan will go!
Living away from home will incur costs that you may not be familiar with; the average weekly weekly expenditure for undergraduates is detailed below. Of course, your actual costs could be lower or higher but the figures should give you an idea of how much you need to budget for.
|
Type of spending |
Average amount
spent |
| Rent |
£95 |
|
Utility Bills (Gas, Electricity, Water) |
£15 |
|
Telephone/Mobile/Broadband |
£10 |
|
Insurance (Household, Personal) |
£2 |
|
Food & Personal Items (Supermarket) |
£30 |
|
Travel (Daily Commute, Other Trips) |
£22 |
|
Books & Course Materials |
£15 |
|
Clothing |
£18 |
|
Socialising (Eating out, Cinema, Clubs etc.) |
£45 |
|
Buying CDs, DVDs |
£10 |
|
Total Student weekly spending |
£262 |
Costs may also be lower outside term-time, depending on your social life and how much you travel. It is a good idea to calculate your own expenditure pattern, perhaps using the table above as a starting point.
You do need to consider your finances, but don’t panic! AUCB’s Student Services have a team of Money Doctors to provide you with lots of help and advice. Accredited by the Financial Services Authority, the Money Doctors scheme can offer you 1-1 support with planning your budget or managing any debt.
For more information or to make an appointment to see one of our Money Doctors, please contact Student Services on:
Telephone: 01202 363242 or 363031
Email: studentadvice@aucb.ac.uk
