Managing your money

You’ll need to have an accurate prediction of your average living costs to start planning your student finances. This will include budgeting for your accommodation, groceries, bills and daily spending. 

Although living costs will vary depending on your lifestyle, we’ve compiled some average living costs to give you an idea of what your monthly expenses might look like.

If you're an international student, you should ensure you have enough funds to cover your tuition fees and living costs for the duration of your course before applying for a visa. If you can't provide an official letter from a sponsor stating they will cover all of your fees and living costs, you must be able to prove you have access to sufficient funds yourself. For more information, please visit the UKCISA website. 

Average costs

The table below shows a breakdown of weekly essential costs. These will vary depending on individual circumstances. Other variable costs that aren't included in the table, but that you might want to consider include: travel, socialising, dining out and clothing.  

Undergraduate students should calculate their academic year costs over a 42-week period. Postgraduate students should calculate their total expenditure over approximately 52 weeks. 

Table of average living costs

Description	Private House	Self-Catered Halls	Meal Plan Halls
Rent	£108	£177*	£237*
Bills	£40	Included	Included
Food	£50	£50	Up to ten meals per week included
Personal Care (e.g. Toiletries)	£15	£15	£15
Internet/Mobile	£10	£8 (Wi-Fi included)	£8 (Wi-Fi included)
Course Costs	£18 - £30	£18 - £30	£18 - £30
Weekly Total	£241 - £253	£268 - £280	£278 - £290

*Average cost of accommodation for 2025/26

Accommodation forms a large proportion of your budget. The University provides a variety of accommodation to meet the needs of our students. More information about the facilities and services included within University-owned accommodation can be found on Living's contracts, inventories and facilities page.

If you choose Student Living Plus – the University’s catered accommodation – you’ll have £66 (£68 from September 2025) to spend each week at food outlets on campus. You’ll also benefit from 10% off food and drink at most outlets, excluding alcohol. 

Full-time registered students are exempt from paying Council Tax. 

In addition to any costs associated with your course or programme of study, there are other costs that you’re likely to incur as a student.

• Printing: To print or photocopy, you must have sufficient credit. Find out how to use our print, scan and photocopying services. Remember to only print or photocopy when you need it, and try to reduce your use as much as you can. 

• Binding: In most cases, coursework and assessments can be submitted online but some students may be required to submit work in a printed format. You can get your work bound by visiting facilities on campus such as Rymans at the University Centre.  

• Books: You can access a range of resources, including most core books, journals and electronic resources required for your module, by visiting the Main Library or browsing our collections on FindIt@Bham. However, you may be required to or prefer to buy your own copy of key textbooks. 

• PCs and Laptops: You can log on to a PC at various locations on campus, alternatively, you can borrow a laptop in the Main Library, from lockers in the Wolfson Room. You may also find it useful to have your own PC, laptop or tablet that you can use around campus and at home. Find the best deals on laptops. 

• Stationery: Whether you prefer to use a laptop or you like to keep it traditional with a physical diary and sticky notes, it's a good idea to have notepads, pens, pencils, and highlighters on hand for jotting down your lecture notes. You might want to explore online retailers such as Amazon, Paperchase, The Works, or Ryman for potential discounts on stationery items.

• Graduation: There are costs if you'd like to hire a gown for your Degree Congregation. Find out more. 

• TV: If you want to watch TV whilst at University, you'll need a TV license which pays for all BBC services, from TV channels to weather forecasts and more. When living in shared student accommodation, the chances are you’ll only need one license for the entire accommodation if you have a joint tenancy agreement. If you have a separate tenancy agreement or you live on your own, you may need your own TV license. Learn more. 

Most students receive their funding in large instalments, normally at the start of every term. So once a payment has been received, it usually has to last quite a while (typically until the start of the following term) before another payment comes through. This is why budgeting is so important. 

First, you'll want to establish your total income. This might be a combination of your student loan, any scholarships that you receive, contributions from family members or sponsors and wages from part-time work. You can learn more about all of these sources of income through our funding pages. 

Once you know how much you have coming in, you'll need to work out how much money you're likely to have left over after you've covered the essentials like rent, utilities and food. This will give you an idea of how much you can put aside for socialising and life's little luxuries. Check out the Guild of Students Budget Planner to help you do this.

Our top tips

1. Establish your total income available (from loans, scholarships, part-time work, etc.)
2. Work out your essential outgoings, such as rent, bills and food.
3. Factor in non-essential items that are important to you and one-off costs for special occasions.
4. Be honest about your spending habits. Do you get a lot of takeaways, is going out important to you, do you spend a lot on clothes? Are these behaviours ones you can change or do you need to budget for them?
5. Track and scrutinise your spending patterns. What can you cut or find cheaper? Can you earn some extra cash?
6. Create a budget and stick to it. Don’t be dispirited if you go over budget – recognise how you can get back on track.

What can I do if I have gone over budget? 

• Reflect on your spending - try and identify patterns in your spending that may have contributed to you going over budget. Did you impulsively buy things unnecessarily or that you could have gotten cheaper?
• Reflect on your budget - you may need to adjust your budget. Often, people start out with a budget that is too restrictive. Try and be as realistic as possible.
• Get back on track in the immediate future - it may be that you have to slightly underspend in the next week or month to accommodate for going over budget previously. As long as you’re aware of this, you can find ways to get back on track!
• Get back on track in the long term - if you have assessed your spending and cannot cut down anything else, you may need to think about additional sources of income. You may also want to think about creating an Emergency Fund in which you save a little each week or month. This will act as a safety net for periods where you find you have slightly overspent.

Other budgeting resources

There are lots of free budgeting apps that may be able to help, including:

• mint - a comprehensive budget that categorises your spending showing where cutting back might be possible
• goodbudget - includes a 'share budgets' feature - useful if you're in a house share
• Money Lover - brilliant for those who like charts, statistics and graphs

Save the Student provides some handy tips for saving money, together with a broad range of useful online tools and calculators to help you make the most of your finances. 

If you’re living in University accommodation, adding Student Living Plus – our catered accommodation option – to your room is a great way to make budgeting easier. Every week your student ID card will be loaded with money to spend on campus food and drink, so you always know you have money set aside to fuel student life.

Guild Advice

Guild Advice is a free, confidential advice service for UoB students. All of the advisers are trained debt counsellors and are happy to assist anyone who needs help managing their finances.

Student banking

When you start University, you might want to consider opening a student-specific bank account. There are lots of options, each with their own individual offers and benefits. Spend some time comparing offers and be realistic about what will be useful to you before you decide which bank to go with. For example, if you travel by train, a student account offering a Railcard might be a better option. 

Money-saving websites

17 energy-saving tips: Energy bills can add up, especially if you're in shared accommodation. Read Save the Student's tips on keeping costs down.

54 ways to save money on food: Make sure you’re getting the best deals with Save the Student’s guide to saving money on food.

Save money on groceries: the price of your weekly food shop can vary according to where you go and if you shop smartly. Check out HSBC’s tips to get the most out of your shop. 

Tools for managing money: Don’t know where to start? Money Helper has put together a guide compiling tips from staying scam aware to building a savings buffer.  

How to be more sustainable as a student: Reducing your environmental impact doesn’t have to be expensive. Check out International Students’ House’s advice on how to practice sustainability as a student. 

35 best money-saving websites: If you’re searching for some money-saving tools, Save the Student has you covered. Check out their guide to money-saving websites.

UCAS guide to managing money: From online resources to funding, UCAS has compiled a comprehensive guide to managing your finances at university.

Tips from current students

 

Alice

Student Content Shaper

“Charity shopping! I bought a majority of my kitchenware from charity shops and it’s where I get all of my books.”

Ellen

Student Content Shaper

“Use a bank account specifically for students that offers student discounts and deals!”

Ruaidhri

Student Content Shaper

“Open an online bank account and deposit a set weekly allowance form your main bank account into the new one. You can then use that as spending money for the week.”

Student blogs

• It's normal to feel a bit unsure about managing your finances at uni. Student Content Shaper Robin shares the advice he wishes he'd known. Read Robin's blog.
• From cashback websites to cooking on a budget, Student Content Shaper Katrina shares her top five tools to save money. Read Katrina's blog.
• Save the Student's resident money expert Tom Allingham shares how 5 simple ways every student can survive and thrive. Read Tom's blog.
• Working alongside your studies can be a great way to supplement your income. Student Content Shaper Hannah shares her tips for getting a part-time job. Read Hannah's blog.
• Managing your money can take some time to master. Student Content Shaper Mimi shares 5 cost-effective swaps she makes on a daily basis. Read Mimi's blog.

A part-time job can boost your income and help you to gain valuable work experience. Many students discover jobs on-campus, tutoring or by engaging in freelance work. 

It's important to note that in the UK, the current national minimum wage for ages 18-20 is £8.60 per hour, and £11.44 for those aged 21 and over. This will increase to £10 per hour £12.21 respectively in April 2025.*

International students who wish to know if they can work in the UK under their student visa can get advice and guidance from the UKCISA working during your studies in the UK website. 

We recommend that full-time students do not work more than 20 hours a week during term time, so you can maintain a good work-study balance.

*Figures for 2025.  

 

Worklink 

If you’re looking for work that can fit flexibly around your studies, look no further than Worklink, the University's very own recruitment service. 

There are a fantastic range of casual student jobs available in all areas of campus life, from food and drink to research. With Worklink, you’ll find entry-level and specialised jobs, as well as volunteering opportunities and internships.

Worklink always puts you first. No matter your age, you will earn over the National Living Wage per hour and accrue holiday pay for every hour you work. You’ll also never have to work more than 20 hours per week or when your exams are looming, because Worklink recognises that your number one job is to be a student.

The University is a Disability Confident Employer. So, you can rest assured that when you work through Worklink, you will be working for an inclusive employer, committed to helping everyone thrive.  

Find out more and browse current vacancies on Worklink's intranet page.

Guild of Students 

You can find and apply for job opportunities at the Guild of Students. The Guild of Students recruits student staff to be Wellbeing Ambassadors, Event Activators and Community Wardens.

As a student, you can take out loans to help cover your living costs. This includes a Tuition Fee loan and a Maintenance loan. 

• Tuition fee loans: these cover the entire cost of your course and are paid straight to your University. You pay this back once your course has ended and you’re earning above a certain level. 
• Maintenance loans: these can help cover your living costs, for example accommodation and food. You’ll receive your loan in instalments at the start of each term and the amount varies according to your household income, place of study, place of residence, and how long you’re there for. 

Some students may also qualify for extra funding, for example if you’re eligible for certain benefits, disabled, or need to cover childcare costs. See if you’re eligible for extra help and find out about the bursaries, grants and loans at UoB.