Roughly how much do students spend a month

tr3mor

Spending £100 a week whilst she's got no rent to pay, no bills to pay, no fees to pay? She's having a laugh, I'd tell her where to stick it!

I spend £3600 a year on rent, £1000 on fees, and about £3000 on everything else (this could be much less if I didn't have a car).

meandu229

student loans plus overdraft should cover it for students, just offer to pay her overdraft off by so much at the end of each term or something, i just about manage with a loan n overdraft.
Will also teach the meaning of money

r.mac_2

please sit down and discuss with your daughter!!!

First degree my parents paid my rent straight to the landlord/uni (£70 per wekk). Then they gave me £150 pcm to cover bills, books and spending money. It was up to me how to spend it - but when it was gone it was gone!

I also worked in the holidays and that saw me though with absolutely no problems.

I was in a lucky position, as not all my friends got financial help from their parents.

Now I am doing a second degree. After working for 4 years after graduating. My parents funded the first years fees (£7000) and I have funded the second and third years (approx £10,000). I have a student loan, but this doesn't even cover my mortgage, so I also have to work during term and holidays!

But this was my choice and not an option which i chose to take on lightly.

I think that your daughter is asking for a lot. What is this sum to cover and what is her mum contributing (if anything). If my situation had been a bit harder money wise the first time around, i may be a bit better with finances now

good luck

sarah.roberts85

Hello,
I seem to be in the same kind of situation as your daughter. I live at home and am in 4th year at Uni. I do not have a student loan or bursary as my Dad's salary is quite high so I am not eligible for student support. My parents give me £70 each month, which covers my travelling expenses. They also give me extra money at the start of term to cover books for my course - between £50 and £100. I also have a part time job earning around £60 a week, which covers my going out expenses, clothes, haircuts and enough to save around £100 each month. I do have a student lifestyle, I can go out when I want and go shopping whenever I need to.
£70 a month from my parents plus my part time job is more than enough to cover expenses - aslong as you are sensible!! £1000 a month seems far too much to me!
Hope this helps!

melancholly

your daughter could easily spend £1000 if she wanted to, but then she could also live off £500 if she had to! it will depend what uni she goes to as rent will probably be the biggest expense. there are lots of things she may like to spend money on that she won't really *need* (sky tv, gym membership etc) - the money she has will dictate her lifestyle. don't let her desire for a certain lifestyle dictate how much money you give her!

i was very lucky and had a lot of help from my parents at uni, but i still had to work every christmas, easter and summer to make sure i was staying on top of things. most people go through some kind of financial revelation at uni - you spend all your money in freshers' week then live off economy beans for a few weeks!! it's a very good way to learn how to budget - necessity!

wishiwasarichgirl

i got full student loan and that was more than enough to live off, approx £3500 a year when i went to uni, that paid my rent, bills, food, books etc.
i travelled home at the weekends, mum paid the bus fare and did all my washing for me, and i'd raid the kitchen cupboards for food to take back.
i also worked 2 jobs at the weekends for extra spending money. never needed an overdraft and my parents gave me the odd 10/20quid now and then.


if your daughter isn't entitled to a student loan cos you earn above the threshold then it might be reasonable to "loan" her the equivalent amount each year (not sure how much it is at the min but i'm sure its not £1000 a month!!).
might be a good idea to pay it straight to landlords/buy tickets for travel etc rather than just giving her cash, incase she just blows it all then comes begging to you when the bills come in?

Bennifred

amyandoli wrote:

i didnt take any money from my parents whilst at uni, i used the student loan and worked part time term-time, full time in the holidays, and didnt feel like i was struggling or doing without at any point. my parents offered, but i wouldnt let them, im stubborn!

Well done amyandoli!:T This is also what my DS1 is currently doing. The tuition fees are paid by the tuition fee loan. He takes the maintainance loan, which pays for his accommodation and bills. He has a part-time job which has to cover food and entertainment. He also works full-time during the summer, which is useful when the entertainment budget gets a bit stretched:rolleyes: He still manages to go to music festivals, buy DVDs, visit mates at other Unis etc. This is a lad who finds it very difficult to keep hold of any money that comes his way, and I am pleased he is learning to stand on his own two feet. Students are technically adults after all! His two younger brothers will be in the same position when/if they decide what to do after school.

Also, re maintainance loan, I thought everyone was entitled to a minimum amount regardless of parental income, with a sliding scale if that income is taken into account? DS1 certainly gets that minimum, I think it is about 75% of maximum available

Zaarin

Another thing to think about when deciding how much money to give your daughter - if you expect her to get a job, bear in mind what this will do to her academic work, if her job takes up any serious hours in the week.

I am a current student, and am very lucky to receive parental funding that negates the need for employment. I know others not so fortunate - they have jobs, and can't even keep up with the absolutely required work for their degree, let alone go around any interesting academic byways that capture their interest.

If all your daughter wants from her course is a certificate of employability (which is what a degree is to sadly many students these days), then getting a job won't harm her much, but if she's seriously academically interested it almost certainly will.

Woaim

£1000 per month, if for pocket money only, is a completely over the top amount. As you said, putting it into savings and giving it to her afterwards would be more beneficial. I'm a student in London and got the maximum loan including some income assessed at about £5000. My rent for just September - June costs £3750. I work for almost all the summer holidays, would work in Christmas if only there was office temp work available and a bit in Easter (but not all as precedes exams). I also work in term time doing catering work which doesn't have to interfere with your studies as you can choose when you work. My parents thankfully paid my fees but I had to pay for everything else myself. I have been forced to live quite frugally but now feel that for food and drink purposes, £50 a week, even here in London, gets you by. You do ideally need a bit more but only £20-30 at most. Let's face it, considering that relatives often give family members such as your daughter money at Christmas and at her birthday, shopping for clothes is clearly not a necessity (and I'm female) and can certainly be foregone until she has those little extra bits. If she shares a house, bills aren't actually that vast per week if you consider the monthly (or quarterly) cost, divide this by the number in the house then into the weekly amount. It's surprisingly little and she won't have to pay council tax of course. I don't see why students shouldn't learn about the value of money and budgeting before they get themselves into huge amount of debt with realising what's happened like so many of our nation seem to.

ftbworried

My parents paid my rent and fees (totally around £4000 a year- yep, about £1000 a term i guess). Everything else I paid by working a part-time job and using my student loan (although i saved most of the loan which contributed to a house deposit :-/).

I know you must be anoyed at her mothers chosen lifestyle but is it fair to punish your daughter for it- it's not her fault. Perhaps you could offer to pay half of what she is asking and then tell her to go speak to her mother about the rest! She'lll then put pressure on her Mother, which might prompt her to go get a job!