Page 8 - Zoni Voice

By: Hilary Osborne
Featured articles https://www.theguardian.com/money/2023/sep/15/going-to-university-how-to-budget-cash

With some careful
planning you can
avoid having to
spend the second
half of term living off
toast.

Going to university? How to budget and

make the most of your cash

Even if you’re not studying maths at university, you should start the term with a bit of arithmetic. When you
draw up a budget, fundamentally you are trying to work out how to make your money stretch as far into the
term, or beyond, as possible.

With a bit of planning, you may be able to avoid blowing it all in the early weeks and having to spend half a
term eating toast. Or you might find you need extra finance and have to consider a term-time job or even an
application to a hardship fund.

It’s not the most fun you could have in an afternoon but it should empower you to make the right spending
decisions while away from home.

Here’s how to start:

Work out what money you have. This will include your student loan, any earnings
and any extra financial assistance you have coming in. Make a note of how much
it is, plus when it will arrive. For example, your student loan will typically be paid
in three instalments, in October, January and April. If you are working during
term time, will you be paid weekly or monthly?

Draw up a list of key outgoings. Accommodation will be at the top, followed by
any household bills you will face separately, and possibly travel if your halls are
a distance from the university.

Your living costs may be slightly higher during the first term because of books
and equipment you need to buy, items you have forgotten to bring and paying
for freshers’ week events.

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