Budgeting as a Student

Your time at University should be enjoyable and rewarding, and it is important that this is not affected by unnecessary financial worries.  

It is never too early to start planning your finances. The first step is to organise your funding - for further information please click here. 

Plan your budget before you arrive

We would recommend that all students create a personal budget before arriving so you can manage your money right from the start.

1. First find out how much you might be entitled to from Student Finance England by using their calculator https://www.gov.uk/student-finance-calculator .

Remember your maintenance loan from Student Finance will only be awarded to you once you have completed enrolment, a few weeks after your course has started.  So you will need some money to last until your first instalment is paid.  

2. Once you know what your income is you also need to work out what your outgoings might be from accommodation to food, mobile phone contract to utility bills and much more besides.

We recommend you use one of these online student calculator to see how your money is going to add up:

Beginner’s guide to managing your money


Supporting yourself financially at University  

The maintenance loan from Student Finance England is unlikely to cover all your living expenses so you may need to think about how you or your family can financially support your time at university and ways to boost your income:

  • Part time work – you can sign up to Unitemps, the University's recruitment service for students, before you arrive to help you find a job in and around the University.
  •  External Funding  - take a look at these websites for further funding opportunities
  •  Way2Pay - once here think about downloading the Way2Pay App, a cashless and secure payment system for food and drink using your smartcard. You or your family can upload funds from any smartphone, tablet or PC to help you budget. 

Student banking

The Money Advice Service offers a wide range of guidance on student and graduate bank accounts, we would suggest you check what the bank is offering you and ensure it meets your requirements before opening an account.

Getting Support

If you would like to discuss your financial situation further or need any advice, please get in touch with the Student Support and Wellbeing Advisers: T: 01227 922 675 or email studentwellbeing@canterbury.ac.uk



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Last edited: 15/12/2018 00:58:00