Surviving on a budget

For many UK students, surviving on a budget is a big part of everyday life. After you've paid for your course fees and accommodation costs, you'll probably be trying to save extra money for day to day living expenses.

 

There are several areas you will have to consider when budgeting. These could include:

 

Trying to budget can at first seem overwhelming, however there are plenty of ways you can save money and have fun too. It's important to plan and work out exactly how much money you'll need in advance, so you can plan accordingly. Have a look at the International Student Calculator to work out how much you'll need.

 

 

Course fees vary between institutions and the total cost depends on what and where you are studying. The best place to find out more is by looking at your institution's website or viewing the course fees page. You may be asked to pay your course fees before your course begins, however many institutions allow students to spread their payments over its duration.

Remember, course fees are likely to be one of your biggest expenses, so you'll need to make sure you can finance yourself well before you leave your home country.

Travel

If you've just moved to the UK, you might be planning a few trips around the country to explore your new surroundings. The cheapest way to get around is often by public transport, and there are some great deals available to help you save money.

The UK's train service is fast, efficient and a great way to see the country. It is nearly always cheaper to book train tickets online, in advance. You risk paying much more if you buy tickets from a train station on the day. A good place to start looking for cheap fares is The Trainline or National Rail. Both have emailing lists which can alert you when cheap deals come in. If possible, try and book at least a month in advance - you'll find that prices are much cheaper.

If you are aged 16-25 or a full-time student, you may also be eligible for a young-persons rail card, which saves you a third on all rail journeys.

Coach travel is generally cheaper than trains and if you can afford to take a bit longer over your journey it's definitely worth seeing what's available. Coach routes link most major towns and cities in the UK - National Express is a good website to visit (it also offers a young persons discount coach card), as is MegaBus, which has some journeys available for as litte as £1.50.

Some international students buy a bicycle to travel short distances to and from their place of study. These can often be purchased cheaply second-hand, and you may find other students selling them via online message boards or notices placed around your school, college or university. If you do choose to cycle, make sure that you are equipped with appropriate safety items such as a helmet, a lock and lights if out in the dark.

 

Many travel companies also offer student discount air and ferry fares to destinations across the globe. Some ask for an International Student Identity Card (ISIC) as proof. With budget flights and great tour options, you can easily explore Europe or the rest of the world straight from the UK.

Shopping and groceries

Whether you need to buy a birthday gift for a friend, or you're looking for something special for a night out, the UK has thousands of shops to suit every budget. As well as cheap high-street chains, charity and vintage shops are also a great place to hunt for bargains. These stores not only sell clothes, but also books, homeware, DVDs and stationary. The Internet is also great for second-hand offers.

If you're looking to grocery shop and still save your pennies, then UK markets are a good place to start. Offering everything from purse-friendly butcher stalls, to cheap fresh fruit and veg, these markets (located across the UK) are perfect for student budgets. You can find out more on the UK food page.

 

 

If you decide to come and study in the UK you'll need to think about how you will pay for accommodation and utilities (utilities means gas, water and electricity etc).

 

If you stay in accommodation providied by your school, college or university, utilities will usually be included in the rent. If you move into private or shared accommodation you may have to pay bills for things like fuel and water on top of the rent - so it's important you budget enough money to cover the costs. Remember - living in a shared house is often cheaper than renting a one-bedroom flat, so look for housemates if you are on a tight budget.

 

Depending on your circumstances, you might need travel, health and contents insurance for your time in the UK. Make sure you budget enough for this and work out how you are going to pay (monthly, quarterly, or annually). If you plan on using a mobile phone in the UK you may want to buy a cheap handset so you can use it on a sim-only deal. Some sim-only tariffs mean you pay as little as £5 per month for calls and texts.

 

 

As a UK student you will be offered many opportunities to go out and socialise with your new friends - but remember to include this in your budget too! Many cities and towns that have schools, colleges or universities often have large student areas, with restaurants, bars and clubs all offering discounts and student prices. Certain nights of the week are often cheaper than others, and remember to check out local noticeboards for student-friendly events.

Cutting costs everyday

If you make a few small changes in your daily routine, you may find that the amount your are saving builds up quickly. Making your own packed lunch to take into your college or university is a great way to save hundreds of pounds each year. A shop-bought sandwich and a drink can cost up to £5 each day (£25 per week) as opposed to £1 per day (£5 per week) if you make it and bring it in from home.

If you are living with housemates, you might like to suggest that you cook together a few nights a week. Cooking for a larger group is often cheaper and you can share the cost of ingredients.

Try to budget a weekly amount and stick to it. If you know how much you are allowed to spend, you won't accidently go over. It's also a good idea to try and save some extra money for emergencies - or for a sudden occasion or event that crops up.

You can find more money saving tips on the EDUK budget planning page and find out about banking in the setting up a student bank account section.