The UCAS budget calculator is a handy tool that can give you an initial idea of student cost of living. Try a free budgeting app for your phone, like Cleo, or simply draw up an Excel spreadsheet at home to keep track of ins and outs ( here’s a great template to use). How you keep track of money is up to you, but there are plenty of easy options. Once you know how much you have coming in, minus what you need to pay out, divide everything across 12 months so you can monitor your finances with a monthly budget. Step 3: keep an eye on both income and outgoings To keep things organised into one monthly amount you pay, try using an app like ours here at Glide to make your bills easier by divvying them up amongst your flatmates.
STUDENT BUDGET PLANNER TEMPLATE TV
If you’re in shared student accommodation, you might need to spend some time planning your utilities and things like council tax, TV licences, water, electricity, gas and so on. Think about your total tuition costs (including books and materials) travel costs (like bus passes but also things like car insurance or petrol) and food, but don’t forget about other less frequent costs, such as haircuts, gifts, clothes, and eating out. Identifying all your sources of expenditure can take timeand will differ for each person. Knowing your outgoings also helps you understand what saving you could potentially make, too.
It’s simple: so long as your expenditure matches or is less than your income, you’re good. You’ll also need to open a student bank account, if you haven’t got one already. You need a crystal-clear figure of exactly what you have to work with, month by month, for the length of your studies.
STUDENT BUDGET PLANNER TEMPLATE PLUS
Also consider any savings that you want to use to help fund you, plus any bursaries or scholarships. Seems obvious, but the place to begin is with how much money you’ve got coming in, whether that’s from a part-time job, family or a student loan.
Here are some tips on putting together the definitive budget to see you through your student years. Drawing up (and sticking to) a budget can seem a little boring, but it can definitely help cut money stress since you always know where you stand financially and can plan your life accordingly.
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