Roughly how much do students spend a month

ftbworried

techno_geek a bit of simple maths will tell you that if you budget £300 a month then YOU are spending ~£1000 a term too!

£1000 x 3 months (semester 1) = £900

or
£1000 x 5 months (semester 2!) = £1500!

So £1000 a term is really NOT that much to live on a month if you are including rent. Give the OPs daughter a break- she's not being unrealistic!

I notice that you are entitled to the full loan, bursary and grant. What if the OP's parents earnings are too high to guarentee her the sources of money that you live off? The REASON that the system is geared towards parents incomes is that they are EXPECTED to help out with the costs if they can (earn a certain amount). You are lucky enough not to have to go through the unenviable task of asking you parents to help you out because the government have subbed your education more than others. For those who aren't given the full loan/grant and bursary (there were no grants and bursaries in my day!) then asking your parents for help is what the system EXPECTS that you do.

stardust2000_uk

I totally agree with that last post. There is no legal requirement for parents to contribute to a childs education however you can only be considered independant if you have lived away from home for 3 years or got married etc. I do know people who come from well off families who refuse to pay any money towards their education but their salary means they are only entitled to the minimum amounts.

Because your daughter does not live with you, your income is not considered, it is only that of your ex-wife AND her partner if they live together.

A lot of people seem to be saying that if she can spend £100 a month then what's going to happen if you give her £1000 a term. Almost most (I'm guessing she's) 16/17 year old girls that are given that money will spend it, planning a deposit for a house, saving for the future is not what it's about for them!

Yes she does need to learn the value of money, yes she is becoming an adult, but its a VERY steep learning curve living away from home and supporting yourself - something that you get a lot better with in time.

Encouraging her to get a job might help, she'll get some responsibility and earning your own money does show you how easy it is to spend after you've worked so hard to earn it.

HappyFeet_2

Alot of people who have replied seem to be on the old system which might not be too much help to the OP.

I'm on the new system, where only the parent you live withs income is used. I live with my mum and she earns less than £17500 a year so i'm entitled to a full tuition fee loan of £3000, Maintenance loan of £3300, Maintenance grant of £2700. I also get a grant of £1000 from my Uni.

My Dad is in a very good financial position so he gives me £300 a month 12 months of the year.

I try to live purely from my loan and save the money my dad gives me, although last term i probably used £300 of my dads money at the end of term.

My accomodation costs £3600 this year including all bills and next year it'll be £4000 a year without bills.

Depending on what the £1000 a term your daughter has asked you for she may need it. If shes living at home you might be better to buy her rail/bus card to ensure she can always get to uni.

When you get to uni you realise people live on a huge range of different budgets, a flatmate of mine gets £200 a week after her accom is paid. :eek: whereas another lives on a tiny £25 a week. You make the most of what you've got...

cherry_snaps

Hi,

I would work a budget out, look and income and estimated outgoings, as the person above said rent is expensive, i did not go to London as i could not afford the rent!.

incomes : student loan , and summer jobs, small 1/2 to 1 day a week job, free overdraft!

Out goings : rent, bills, travel to and from uni.

others : books (use the library!! save a fortune)

budget for aroun 40 -60 a week for food, social and spending.

If you can afford to help out do so, i had friends with well off parents who gave no help.

HappyFeet_2

If i'm honest i never really set out a budget i just spend what i needed (or felt like i needed) to. And i havent gone too far wrong. I hit my £1250 overdraft about a month before the end of last term so that put a quick stop to my spending!

I guess very roughly i spend £25 a week on food (though i dont eat out i am vegetarian and tend to cook fresh food which is more expensive.)
Clothes really depends on whether i have the money or not.. i guess around £10 a week
Transport other than going home once a month @ £12 i dont really pay for transport outside taxi's for going out at night so i'll group that with going out costs!
Going out varies hugely and is the thing i should cut down on Since Sat i've been out three times and going out tonight. So thats four nights costing around £60.

Last term my spending averaged at £140 a week without accom but that includes two freshers weeks, books and a tv license so i'm hoping it'll be alot less this term!!!

Money_saving_Martyn

ihatechoosingnames wrote:

it's great that you can support yourself but i think you should bear in mind that you are lucky to be living where you are and thus paying very little rent. i pay £400 pm on rent alone and i'm not living in luxury at all!

I am quite lucky to be paying £40 per week rent. I was in halls of residence paying £100 per week (fully catered n cleaned) during my first year and that was tough on the bank balance. It does depends a lot on which city you're in - I bet in London rent is £400 per minute for a box (hence the extra loan etc)

For round here, £400 per month would would be a bit steep if you were living in a house share. The most (except halls) I've known round here is £320 a month and that was for a super luxury atic room in a ultra modern house. I did have to shop around for a price this low, but I do that with anything where money is concerned!

Good luck with uni!

Money_saving_Martyn

redrabbit29 wrote:

In Uni, I worked 20 hours a week throughout the 3 years. I lived 200 miles from home and lived away even during the summer (when I worked full time) and during christmas (when I worked full time). I only ever visited during easter, and once in the summer for about 3 days.

I lived solely on the money I earned from working, from the student loan, and from my interest-free overdraft.

I had no credit cards, and no loans. Plus my mum/dad didn't contributed anything financially to my studies.

A man/women after my own heart! I visited home for 2 days over xmas, then spent another 2 days with my OH at her parents before returning to work 35ish hours for a few weeks.

I do have a credit card but no balance on it - I've got the Morgan Stanley cashback card :money: and earned £30 off it now just for spending what i need to over the last year or so (incl a few big things like a holiday and car insurance last year when I had a car!) I wouldn't recommend getting a Ccard unless you're hyper financially disciplined.

djhworld

Oldernotwiser wrote:

Surely if you were living at home you'd be working and paying for your keep rather than being subsidised by your parents?

£100 a month is what they want to contribute to make sure I'm eating well every week (£25 a week).

Perhaps if I was older and had a proper job, things would be different, I'd be more then happy to pay my keep if I was earning a stable wage.

I also think it's something to do with the fact that I'm the only academic in my family, I live in a family of 6, I'm the youngest and the only one to go to University. The rest have moved out and are in full time employment.

Sure you could argue that I'm old enough to get a part time job, but at the current workload I'm receiving, I don't want to risk my own education just for a few measly hours at some fast food joint serving ungrateful customers and coming home coated in a thin film of chip fat.

Everything else I have to pay for on my own, which inadvertently means taking out the full student loan and tuition fee loan to support me in my education. No one in my friendship circle has a job either.

The only friends I know who have a job are the ones back at home, who are living at home.

and for the record I pay £320 p/month in rent

studentmusician

One piece of advice for anyone who thinks about becoming a student is DO NOT OWN A CAR! Under any circumstances. They are a huge drain on finance, and really just a hassle, which will stress you out. I reckon I've spent £3000 of money on my car, which I worked out I dont need after running it for 6 months. Universitys always have good transport links so I'd stick with that.

Money_saving_Martyn

djhworld wrote:

Sure you could argue that I'm old enough to get a part time job, but at the current workload I'm receiving, I don't want to risk my own education just for a few measly hours at some fast food joint serving ungrateful customers and coming home coated in a thin film of chip fat.

Undergratuate degrees work out as 39 hours full time, if you go by the contact time (in lectures) and add the expected private study. Which subject are you doing? I'm yet to know anyone that actually spends 39 hours per week on their degree.

It's also worth baring in mind that a degree alone will rarely get you your dream job, as the next candidate will have some sort of expereince. Although a few hours in a fast food restaurant seems pointless, I know many people that have become supervisors and all sorts. It's all about the customer contact skills etc etc. There are far more jobs out there than just at the big M!! I wouldn't be seen dead in that place, employee or customer!!