Results 1 to 7 of 7
  1. #1

    Budgeting help needed- Do I need a part-time job to fund my living costs?

    Hello.

    Being a first year student, I'm unsure if I need a part-time job during this year of university to support my living costs. And I was wondering if you would think of it as something good or think of it as a distraction and unnecessary thing. ��

    I receive 7090 for maintenance loan from Student Finance. For the first two loans, SF is giving me around 2340. The last is a little more.

    However my accommodation is fairly expensive and costs 6864 a year for a 48 week contract (not like I need it for that long but it's the only one available). In three instalments the rent will be 2288 each.

    I will also receive a bursary from my university with a amount of 2000 a year, split into three payments of 500 for November, 1000 in January and 500 in April. My parents said they *might* also give me around 100 a month to help... and have already given me 500 ahead of September. But I really don't like depending on them since I feel so awful doing so and I really want to give them something back after university.

  2. #2
    So the question is... do I need a part-time job to live comfortably, to buy food, other utility etc... and would you recommend it or not? I'm not exactly outgoing and I do not drink, but I don't want to eat poorly throughout the year and fall into my overdraft because who knows what will follow ��.

    I haven't gotten a part-time job before and I'm not confident since I'm fairly shy, but all these costs are getting to me and making me worry and panic since university literally starts in a few weeks... ��

  3. #3
    Have you sat down and worked out how much money you'll have each week? If you're in halls, you won't pay utility bills

  4. #4
    You definitely can manage with this amount + your parents help.

    I am due to pay my first instalment on the 3d and still have 5480 on the SF website as my maintenance loan although only my accommodation will cost 7750 this year and all the savings I have = 1000.

    I had my parents supporting my application around a month ago and was told by Student Finance that the application and evidence were received however I was asked to wait until the 5th Sep for the changes to show up on the systems.

    I have no one to help. My family aren't supportive at all and I'm saying that just so you can relax and don't worry as there are people in worse situations here.

    I also suggest when budgeting ( start with your grocery) calculate the amount you need each day or week and try stick to it, doesn't matter where you eat as much as you can afford it.
    Then you can calculate
    accommodation
    Internet
    Personal hygiene
    Clothing if needed
    Gym
    Hair cut
    Transport
    Socialising!
    And your emergency savings / savings.

    It takes around 10 minutes to do it but it's worth it.

    Good luck

  5. #5
    Even if you can manage on your funds it'll probably be good getting a part time job anyway to meet new people and get more experience

  6. #6
    If you're sensible with your money and can restrain from splashing out on goods such as a new phone or new laptop then you will be fine. Things like a sports membershhip may seem a lot to pay at the start of the year but it is worth the money if you use it enough throughout the year. Same goes for societies like some may have an initial membership fee but after that it'll be free to go to the sessions or only a few pounds each time. In terms of socialising and partying you can get away with buying cheap alcohol like cider or just large bottles of vodka which should last you a while and if you can just take out maybe 15 pounds with you on a night out then you won't be tempted to just flash your card at the bartender... In terms of food. If you strip everything back to basis and just eat healthy simple meals then you could spend around 20 pounds per week.

  7. #7
    The funding you've detailed here adds up to 13,130. This is quite a healthy amount, and rather more than a lot of students have to live on. In fact, it is more than a full-time worker in a minimum wage job. If you don't go out much or drink, it become even more healthy.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •