- Course
- MPsych, BSc Advanced Psychology – Year 2
- Talking about
- Cost of living and budgeting
When I started university last year, I didn’t appreciate how it would impact me as a student and how rapidly the prices could change. I’ve had to adapt very quickly over the last 12 months! Here are some of my thoughts on what I’ve learned.
My budget
I’ve found it easier to have two money accounts and have one with money in for food shops, supply shopping etc, and one for ‘extras’ e.g., clothes, cinema, excursions.
| Type of expense | How much I spend |
|---|---|
| Food shopping | £30-£35 per week |
| Household cleaning products and personal hygiene (such as shampoo) | £5 per week |
| Transport (taxi and bus) | £5 per week |
| Additional transport to weekly doctors and physio appointments | £15 per week |
| Social (activities, clubs, bars and pubs) | £10-£20 per week |
| Clothing | £10 per week |
| Treats (such as Starbucks or Caffe Nero coffee, one of my favourite things to buy!) | £10 per week |
| Accommodation (with water, gas, electricity, Wi-Fi and TV licence bills included) | £152 per week (I pay my rent in four big chunks, so the money isn’t taken out of my account weekly). |
Food and household supplies
At the beginning of my first year, I shopped at Morrisons as it was close to my accommodation. However, it soon became quite expensive, so I decided to try online food shopping. I shared the shop with my flatmate, which instantly halved the delivery price. Planning my shopping, finding the best deals, and focusing on the food I actually needed, rather than just picking random items off the shelf, proved to be much more cost effective.
Usually, for every shop I order, I buy cupboard and freezer items that will last 2-3 weeks, and just the fruit and veg I need at the time.
Roughly I would spend £25-£30 each shop and do two shops per month. I top up on fruit and veg during the week, which increases my weekly spend but it doesn’t impact my budget too much. However, sometimes I have to choose pears over berries at the end of the month!
My top tips are to wait until you get to uni before buying cleaning supplies, buy own-brand products which are as good as the expensive ones and get products together as a flat to cut down on the cost. And if your local supermarket has a loyalty card, sign up! Trust me, shops can become a lot cheaper when using loyalty points or offers.
Transport
Most of the time I walk everywhere in Leeds as everything is within an accessible distance. However, I have occasionally taken an Uber when I’ve had to go to places further away. Sharing an Uber with friends means you can share the cost, making it more student friendly!
I haven’t used a bus yet but will undoubtedly have to from now on, as I am living further away from campus and the city centre, and everything continues to get more expensive.
Clothes
Washing clothes can be expensive, so either make sure your load is full, or do laundry with a friend to share the cost. In my first year, the prices for the washing machines in my accommodation increased only a week after I moved in!
Websites such as Vinted give you the chance to sell clothes you don’t wear anymore, books, etc. Equally, if you want to buy an outfit for a night out, you’ll find lots of bargains there.
Finding work
Finding work that is suitable for part-time students can be challenging if you’re looking for term-time work only, plus you have study commitments. However, living so close to the city centre opens up a wider range of job opportunities with the variety of shops, cafes and restaurants. Uni or subject courses frequently send emails about job or volunteering opportunities which may be helpful. For example, there are jobs within the university, such as student ambassador or working in the union.
Whilst the cost of living crisis is a concern for all students, setting a budget and shopping around for deals will help. However, if you find yourself in a challenging financial position, always remember Student Services will be there for you.
Government maintenance loan
Obviously, most people can apply for a maintenance loan which can go towards rent, food shopping, and may provide extra security in knowing you have money to put towards these things or unexpected expenses. It’s important to remember though that this will have to be paid back at some point in the future, once you’re earning enough money!