Why budget?
As a student it is important to give some thought to your finances to ensure your limited income goes as far as possible. When you receive your first loan instalment it may seem like a small fortune, but remember you have to make this last until you receive your next instalment in January. To make sure you don’t run into financial difficulties you need to know how to plan and stick to a budget.

How to budget
To budget correctly you need to calculate your guaranteed income over the academic year along with your essential expenditure. Try to be as realistic and accurate as possible when you are recording your expenditure.

The NUS website provides details of the average student’s income and expenditure.

Use MSN’s cost of living calculator to look more closely at your finances. If your income exceeds your expenditure you should survive financially while you are a student. However, if the cost of living calculator indicates a deficit (if your balance is a minus) you will need to consider how to either increase your income or reduce your expenditure.

All the institutions in York have trained staff who can help with budgeting or offer advice on any financial difficulties you may be experiencing. Their contact details can be accessed through the links.

Askham Bryan College budgeting help

University of York budgeting help

York College budgeting help

York St John University budgeting help