Budgeting

It can be extremely difficult budgeting as a student, as you receive student loan and wages at different times and intervals.

WHY IS IT IMPORTANT TO USE A BUDGET PLANNER?

•  
• Allows you to know how much income you have coming in
• Allows you to know how much money is going out
• Allows you to plan your spending so that you are never left with periods in which you have no money.

HOW TO FILL IN YOUR BUDGET PLANNER

The example below is based on Student A, who is a full time student living away from home, working part-time and in receipt of the full student loan.

Student A's budget is worked out on a weekly basis. However, you may prefer to complete yours on a monthly basis.

We have divided his student loan by the 52 weeks in the year. Student A has £30 each week left over after his essential expenditure is taken care of. He knows that if he spends more than this then he may not be able to pay for the items on the budget planner.

Student A: Budget Planner N.B. Remember this is just a guide and this student has very basic needs. Other students have many more and varied costs. There is all the more reason for a budget planner if you have more complex income and expenditure.

Below is a blank budget planner for you to complete yourself. We have left plenty of spaces for you to add your own categories but you can always design your own planner if you don't like this one. Budget Planner

For more detailed advice on budgeting and planning your finances, collect one of several booklets on the subject, from the Advice and Support Centre.