Work out a financial guide by using our simple 3 step guide
- Calculate how much income you will have while you are a student on a monthly or termly basis. Your income sources include your student loan, grants and bursaries, money from work and money from your family.
- Now estimate how much money you will spend during that given period. Be sure to include all accommodation costs including rent and bills plus all travel costs, food, workbooks and money for socialising (don’t forget your television license which is your responsibility. Failure to get a license can result in a big fine).
- The final sum may shock you but use it as a guide to control your spending as living on a small income is difficult and can take some adjustment.
Part-time employment
Part-time, Christmas or Summer jobs are a great way of supplementing your income during your studies. Jobs are advertised earlier than you may think and are in high-demand by students. It is advised that you work no more than 15 hours per week during terms to ensure that college work still has priority over your job.
Student bank account
Many banks offer students perks for opening accounts. Most student bank accounts come with interest free overdrafts, a debit card and possible overdrafts upon graduation. The perks could include anything from interest free overdrafts, to high-street vouchers and railcards. Be sure to shop around to find the best deal for you
Insurance
Whether you are playing sport or own valuable equipment, accidents can happen. Insurance companies offer a variety of student insurance deals incompassing cars, personal property and accidents.
