This includes practical advice on student support, banking and budgeting.
Budgeting
Before you come to university it makes sense to plan a realistic budget. You will be able to identify any unnecessary expenses and find ways to save money.
Budgeting helps you work out how much money you have coming in (income) and how much money you have going out (expenditure). You'll be able to see how much you have left and plan your future spending. There are apps and websites that can help you keep track.
Think about your 'priority bills', such as rent. If you're staying in halls, pay your £400 deposit as soon as you have successfully applied for accommodation. Make sure you know how much the rent is, and how much is left over after you've paid it. You can then start to think about the other costs you might have.
Banking
Look around and investigate bank accounts; find the right one. Ignore offers of freebies that you won't use. Focus on how much student overdraft you can get, what the charges are on it while you're a student but also what charges there are on it once you've graduated.
When you look for a student bank account, consider:
- What it offers you while you're a student
- How soon after graduation the account will convert into a regular one and start charging you
- What the charges will be and what the interest rate will be after graduation.
''You don't want to graduate in June/July and then have the bank writing to you in August saying: 'You're £1000 overdrawn, we're going to charge you £100 a month' and you haven't even had time to find a job!''
Claire, Student Finance team
Money Doctors
Money Doctors help students make more informed decisions about their finances. We provide advice on government financial support, University Hardship Funds and managing your budget.
Get information, advice and support on:
- money management
- debt management
- supplementary income
- funding of postgraduate study
With interactive resources from staff and student finance advisors, you'll be supported whichever campus or course you choose.
We're here to help you
There's a lot to consider so why not save yourself a lot of trouble by getting all the advice you can. Advice is free and available from our Student Finance Teams at any point during your time with us. We also have an Employability and Careers service in each faculty to help you find part-time work while you're at uni.
There is plenty of information on the website; read the useful FAQs and you may find answers to some of questions most students ask about student finance and financial support at the university. If you do not find an answer to your question, contact us and we will do our best to respond as quickly as possible.
Call our helpline on 020 8331 8272 and choose option 5. There's a Student Finance Team in each Student Centre on each of our campuses so you can also pop in, or come and see us on a campus tour or open day.
