Online Resources

Managing Your Money

Managing your money is one of the most important things you will learn as a student.  It is important to monitor your spending in order to ensure that you have enough money for essentials like rent and food, and to prevent overspending.

You can use the Money Advice online Student Budgeting Spreadsheet to help you see whether you need to cut your spending on non-essential items and/or increase your income. 

If, when you have completed your budget calculation, you find that you have a surplus of money then you could save some for unexpected expenses (such as car repairs, trips). You may find it helpful to open a second bank account to make it easier to separate your money into living expenses and savings.

If however, the calculation shows that you have a shortfall then you will need to examine your budgeting and see whether you can reduce some of your spending, or increase your income - see Boosting Your Income.

You can also find example templates below to help you balance your budget, log your spending and organise household bills with your housemates:: 

Budget Sheet

Use a Budget Sheet to see where you need to cut your spending on non-essential items and whether you need to increase your income. It is a good idea to divide income and expenditure into monthly amounts for easy comparison.

Spending Log

Use this Spending Log to record and monitor your spending and to help you identify any spending pattern that you would like to change.

Sharing Household Bills

Keep a record of household bills and payments to help you and your housemates organise and pay your household bills, in a way that is fair to everyone involved.