Budgeting at uni
Our budgeting guide will help you make the most of your money with budgeting tips, financial support, and practical advice.
Jump to: Working during your studies | Scholarships, bursaries and awards | Budgeting | Top tips | Accommodation | Discounts | Support
We want every student to get the most out of their university experience. It’s important that you get the right balance of studies and social life without worrying whether you can afford it.
With a little bit of planning, you can take control of your finances leaving you free to get on with the things that are important to you.
Budget calculators
There are a number of budget calculators to help you create and manage your budget.
- Save the Student – Budget calculators
- WhatUni – Cost of living calculator
- Money Saving Expert – Student budgeting planner
These budget calculators and tools are a useful starting point when understanding how your budget will look when you start at university.
Student budget examples
Every budget is different, and there’s lots of things you can do to make your money go further.
Check out our student budget examples below to get a feel for how your budget could look.
Amy
Paramedic Science BSc (Hons), Full-time student
Part-time job – 16 hours per week
Living in private accommodation
Amy is a full-time Paramedic Science student living in private accommodation. She pays £140 per week in rent, plus £15 for utility bills. She receives £185 per week from her maintenance loan and also works a part-time job, earning £200 per week.
She budgets £40 a week for groceries and spends around £30 on socialising and takeaways. With £20 set aside for transport and £50 for other essentials, she manages her costs while making the most of student life in Gloucester.
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Maintenance loan £180 Part-time job £200 Total per week £380
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Rent (inc. bills) £155 Groceries £40 Transport £20 Socialising £40 Course materials £5 Mobile phone £9 Other £50 Total per week £319
Noah
Geography BSc (Hons), Full-time student
Part-time job – 20 hours per week
Living in ensuite halls accommodation
Noah is a full-time Geography student living in ensuite halls accommodation, paying £174 rent per week, which includes all utility bills. He receives £95 per week from his maintenance loan and supplements his income with a part-time job, earning £250 per week.
He budgets £50 a week for groceries and spends around £20 on socialising. With £5 set aside for his gym membership, £10 for transport, and £40 for other essentials, he balances his studies with work while enjoying university life.
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Maintenance loan £95 Part-time job £250 Total per week £345
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Rent (inc. bills) £174 Groceries £50 Transport £10 Socialising £20 Course materials £5 Mobile phone £5 Other £40 Total per week £304
Rafael
Fine Art BA (Hons), Full-time student
No part-time job
Living at home with parents
Rafael is a full-time Fine Art student living at home with his parents, which means he doesn’t have to pay rent. He receives £110 per week from his maintenance loan, with an additional £50 of support from his parents.
He spends £20 a week on groceries and £20 on transport. With £30 set aside for socialising and £6 for Netflix and Spotify subscriptions, he manages to keep his costs low while making the most of his university experience.
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Maintenance loan £110 Support from parents £50 Total per week £160
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Rent (inc. bills) £0 Groceries £20 Transport £20 Socialising £30 Course materials £10 Mobile phone £6 Other £35 Total per week £121
Budgeting
Love them or loathe them, budgets are the best way to manage your finances and keep an eye on your spending.
If you decide to join us at UoG, you can contact our Money Advice Team, who are on hand to help you create a sensible budget and manage your finances effectively.
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Contactless payments are very handy but it can be hard to keep on top of what you’re spending. So why not go old school and use cash instead.
Set yourself a weekly cash limit to spend on food or socialising and take the money out at the start of the week. This will make it much easier to keep track of your outgoings.
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• Create a meal planner each week and have a go at cooking from scratch – it’s easier than you think and much cheaper than buying ready-made meals or takeaways.
• Don’t go food shopping when you’re hungry because you will buy more than you need.
• Shop around for the best prices. Budget supermarkets will save you lots of money so it can be worth spending money on a shared taxi even if the supermarket is further away.
• Do an online food shop with your housemates and share the delivery charge. Collect points while you’re at it and you could get money back or money off vouchers.
• Cook meals with your flatmates rather than cooking individual meals. Batch cooking is much cheaper.
• Have a Deliveroo/Just Eat as a treat or special occasion when you can afford it.
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There are lots of free budgeting apps which let you easily manage your money. Make sure the app is reputable as you’ll be sharing your personal information. Do some research to find recommended apps with good reviews.
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Put dates in your calendar when bills are due to be paid for halls fees, mobile phone contracts etc. This will help you avoid any late-payment fees.
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Many UK banks offer incentives when you sign up to their student accounts. These could include freebies such as free railcards or even cash. It’s worth shopping around to see which one is best for you.
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It may sound overly simplistic but it really is the key to budgeting properly. Work out how much money you have in your pot and deduct your bills and essential payments. The rest is yours to spend as you like.
Try to avoid going into your overdraft. Remember, if you can’t afford it, don’t consider buying it.
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• Driving can be an expensive way to get around so consider cheaper alternatives. Cheltenham and Gloucester have a good public transport infrastructure with buses, trains, e-scooters, as well as safe walking and cycling routes.
• If you frequently use the bus, you can save money by buying a weekly, monthly or annual bus pass. You can use the pass on journeys in Cheltenham and Gloucester 24/7.
• If you travel by train, you can save a third on journeys with the 16-25 Railcard.
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It’s difficult to plan for every eventuality so keep a little money aside for unexpected emergencies, course trips and materials, or special occasions.
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Try the Money Saving Expert’s Spending Demotivator tool – it will help you see how much you spend on non-essentials, and stop you spending when you can’t afford it.
It’s an eye-opener.
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Avoid buying new textbooks if you can. Not only will it be a lot cheaper, but it’s also better for the planet.
You may be able to borrow your textbooks – the University library is well stocked so ask the librarian if you can’t find what you’re looking for.
“I used to stress a lot about money, so now when I get my student loan I take out what I need for accommodation and put it in a different account. That way I know my bills are covered and I can clearly see how much I have left to spend.”
Katie, Photojournalism and Documentary Photography
Working during your studies
A part-time job is a great way to boost your finances. Lots of our students do this, and it can be a great way to learn new skills.
Try to look for something flexible that will fit around your studies – there are lots of part-time options locally including jobs in bars, restaurants and retail. There are also opportunities for casual work at Cheltenham’s festivals and in the city of Gloucester.
Top tip: Make sure you’re not paying more tax on your earnings than you should. For example, if you’re working temporarily, you’ll be taxed as if you earned that salary all year round.
Visit Gov.uk to find out what you should be paying and how to make a claim if you’ve paid too much tax.
Unitemps
Unitemps at UoG is our own on-campus recruitment agency designed to provide paid, temporary jobs to fit around your studies. Not only will part-time work boost your finances, it will also strengthen your CV, give you important skills and build your professional confidence.
Once you’ve joined UoG, you can register with Unitemps for regular updates about available paid vacancies.
“Currently I work as a student ambassador which is really well paid, plus I work 12 hours a week as a videographer for a small local business. I would definitely recommend finding a part-time job, especially something related to your degree so you can also get work experience.”
Michal, BA Photography: Editorial and Advertising
Student ambassador scheme
Student ambassadors are current students who are employed by the University to support a range of events, sharing their experience and knowledge of life at UoG.
Ambassadors have many different responsibilities, including running campus tours, supporting open days and campus visits, presenting in schools, and attending higher education fairs around the country.
This scheme promotes flexible working hours too. This allows you to be in control and work alongside your studies while boosting your finances.
Current students can apply for vacancies via MyGlos at the beginning of each academic year – keep your eyes peeled.
“I needed a job alongside my studies and becoming a student ambassador was an excellent opportunity – the work is super flexible and there is a wide range of events to choose from.
The scheme has also allowed me to make so many new friends. I wish I could go back to first year and do it all over again.”
Issie Haworth, Student ambassador
Scholarships, bursaries and awards
We offer a range of fee waivers, scholarships, bursaries and awards for undergraduate, postgraduate and international students.
Depending on your course or status, you may be eligible for additional funding during your studies.
Advice from our students #BTUPodcast
Watch our Behind the Uni Podcast, which features budgeting advice from current students.
Top tips from our students
“Online banking is my saviour. I can make sure I know what’s coming in and going out.
“I can check what I’ve spent in a week, look through my incomings and outgoings, and see where my money’s gone – it’s helped me so much.”
Ellie-may, LLB Corporate Law
“Whether you’re living in Gloucester or Cheltenham, I advise getting the Unirider academic year bus pass. It’s a great way to save on transport.
“It is much cheaper to use the bus pass if you need to commute for a part-time job.”
Samuel Kofi Amoako, MSc Cyber Security
“We don’t eat meat, which saves a lot of money and I cook from scratch about 75% of the time – it’s just something I’ve always done.
“Where possible, I use frozen veg as it works out cheaper and nothing goes to waste.”
Cathy, BSc Psychology
Accommodation
If you’re planning to apply for halls of residence at the University, then all of your bills such as heating, electricity, water, and internet will be included in your rental costs. Payments are then taken in three instalments across the academic year.
All of the self-catered rooms in our halls of residence include bills making it easier for you to budget.
If you’d rather opt for private housing, then you might need to budget your finances slightly differently. Check out our useful tips for private housing budgeting.
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Pay your rent in a lump sum each term – it will be easier to budget with any money you have left.
Paying rent on time can also boost your credit score which will help if you apply for financial products such as credit cards or loans in the future.
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Put dates in your calendar when bills are due to be paid for utilities, broadband, mobile phone contracts etc. This will help you stay in control and avoid any late-payment fees.
There are numerous apps available to help students split bills such as Splitwise. Alternatively, you may want to consider setting up a separate bank account for bills.
If you do this, make sure the account is in the names of all the housemates, and do not do this if one of the housemates has a poor credit rating as this would affect yours.
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If your accommodation is unfurnished, buying second-hand furniture will not only save you money, but is sustainable too. Cheltenham and Gloucester have a range of charity shops that sell recycled furniture including the British Heart Foundation. You’ll find everything from TVs and sound systems to toastie makers and office chairs.
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• Only put on a load of washing when you have enough for a full load and consider sharing loads with housemates to achieve this.
• Reduce the temperature of the wash to 30c or lower.
• Avoid using a tumble dryer and use a clothes airer (or better still, a washing line if you have one) to dry your laundry. Heated clothes airers are a good cost-effective alternative to using a tumble dryer and will help you dry your laundry more quickly in the cooler months.
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It’s important you look after the property to make sure you receive your full deposit back at the end of your tenancy. It’s not too difficult – just leave it in the same condition it was in when you moved in.
It’s worth having a thorough check and noting any issues/defects with the property when you first move in and making sure they are listed on the inventory. And if you spill or break something during your tenancy, try not to worry – these things happen. Just be sure to flag any issues with the landlord. Replacing a broken item will be cheaper than losing your deposit.
Student discounts
Taking advantage of discounts is a great way to save money.
As a student, you’ll benefit from a vast range of discounts available locally and nationwide.
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TOTUM (previously NUS Extra) is a student discount card and app, offering a huge range of discounts on tech, food, essentials and lots more.
Visit www.totum.com to find out more.
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Save the Student provides free impartial advice to students on how to make their money go further.
It also provides discounts too.
Visit www.savethestudent.org
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StudentBeans is another great exclusive discount app with a range of offers and codes available.
Visit www.studentbeans.com/uk
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UNiDAYS is a student discount app, which offers a variety of discounts on big retailers.
Sign up now using your university email address.
Support
At UoG we understand that rising costs may have an impact on your well-being. We are here to help and support you during your studies, ensuring you have a positive experience at the University.
Our Student Centres offer a range of support services to students across each of our campuses.
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