One of the first things to do when you get to Uni is set up a budget for yourself. You will need to know how much income (money in) you will be getting and also, where your money will be going and how much of it is going there.

Prioritise your spending: housing, food, heating and electricity are the most important things to cover, and once those have been accounted for you can see how much you will be left with.

You can use the budgeting forms below to help you keep track of the outgoing money:

Budgeting Forms


Household Budgets

Household costs can vary greatly from month to month, especially electricity and gas bills. Some accommodation will have bills inclusive of rent; however, some accommodation will require that you pay the bills on top of your rental payments. It is essential that you clarify this at the start of your tenancy, so that you don’t end up paying more, or less, than you should be. 

If your bills are not included in your rent payments, find out from your landlords or letting agents which companies are currently supplying the accommodation, and whether you can shop around for the best deals.

Make a note of how your utility bills are metered. Direct debits are often the cheapest way to pay for your utility bills, whereas pre-payment meters are the most expensive and will often result in overcharging.


Shopping Budgets

To reduce spending on food, try planning what you are going to eat for the entire week before you go shopping. This way, you can make a list of the groceries you will need and therefore are less likely to make impulse buys, which can add up very quickly.

Take a look at the reduced items section, as a lot of the time the only thing wrong with the product might be a fast-approaching sell-by date. You can save a lot of money this way, and still get the same quality of food.