Moving to university can be a really exciting but also a daunting time. It’s hard to know what you’ll need to bring, where you can find what you need, how the transport works, or if you really need to buy all the books on your reading list! Here are some tips for managing your finances that I’ve learnt from my time at Leeds.
My budget
Try to do a rough budget by adding up your student loan, employment money and any other contributions. That is your income. Then deduct your known spending, for example, rent for your accommodation, phone bill, travel. Divide the remainder by the number of weeks it has to last, which may include holidays as well as term-time.
Doing a budget really helped me be aware of how much I should spend per week. This allowed me to be flexible and accommodate spending more, if I knew I was going out for a meal with friends or going on tour with a society.
One thing I hadn’t realised was how expensive the first couple of weeks would be (freshers events, joining societies etc), so it’s a good idea to factor this into your calculation and give yourself a bit extra in the first couple of weeks.
Remember to ask yourself before you buy – do I need it? Can I afford it? Have I checked its cheaper anywhere else?
Here’s a breakdown of the main things I’ve spent per month this academic year (2022-2023)
| Type of expense | How much I spend |
|---|---|
| Rent (including utilities and internet) | £570 per month |
| Groceries | £100 per month |
| Going out | £50 per month |
| Clothes | £20 per month |
| Gym membership | £24 per month |
| Mobile | £15 per month |
| Other including travel | £25 per month |
Household items and moving in
Don’t over buy! It’s so tempting to fall into the trap of buying loads of new kitchen and bedroom items before you move into halls. ‘Uni hauls’ on Youtube made me think I need loads of stuff and I ended up buying kitchen items from Ikea that I haven’t used.
Check what is included in your accommodation first as you don’t want to buy a toaster when you have one included.
It can be handy to split the costs of general use items such as washing up liquid or toilet roll with your flatmates if you share a bathroom.
There are plenty of shops in the city centre where you can buy good value home stuff, such as Primark, H&M and all the supermarkets.
Student discounts
I recommend registering for Unidays and Student Beans to access discount codes. Some stores (such as Boots and Ikea) offer discounts directly to students, so it is worth asking at the till if they offer anything. Remember to ask yourself before you buy – do I need it? Can I afford it? Have I checked its cheaper anywhere else?
Food
It’s tempting to use the student discount to get cheap takeaways, but it can add up and cost lots of money.
Prepare your own lunch – the union has microwaves you can use.
Make a shopping list for your food and stick to it, rather than impulse buying. If you can, prepare food in batches and then freeze portions for later. Also try cooking with your flatmates, it’s not only budget friendly but a great way to socialise!
Or you can grab a bite to eat in the many food outlets in the union such as the Refectory or the Terrace which offer a great selection of hot and cold food. Remember to use the Leeds University Union (LUU) Reward scheme when buying food or drinks in the union.
Sign up for Supermarkets Clubcards. If I have forgotten my lunch, it’s very easy to pop in to Tesco and Co-Op (which are found in and around the campus) to get a meal deal.
Transport
The University campus is a 10 to 15 minute walk from Leeds city centre. There is a good bus network if your halls of residence are a bit further out – use the First Bus app to get student discounted tickets. Cycling is also a really easy way to get around Leeds with lots of cycle storage around the campus. Bike hire is available from the University as well.
If I am going home, I always try to book my train tickets in advance and get a third off using my 16 to 25 railcard (which I got as a perk when opening my student bank account). National Express is a great cheaper option and they have a Young Persons coach card as well.
Finding work
There are plenty of part time jobs in Leeds that can fit around your studies. My work as a student ambassador is really flexible and it is great to meet prospective new students. My friends have part-time jobs at bars, supermarkets and also at the Leeds arena.
Joblink at LUU is a really helpful way of finding part time work as a student. @leedsunicareers supports you finding internships, work placements and graduate jobs.
Buying books
Don’t spend money on buying books on your reading list. The libraries at Leeds will have everything you need. You can often find previous students selling books at a discount – Unidbooks is a great website.
Clubs and Societies
Join clubs and societies as it is a great and cheap way to meet like-minded people. There are so many clubs to choose from. Many of them hold give it a go session in the first few weeks so you can try them out before you sign up.
Support
If you are struggling (financially, socially or academically) do reach out to your parents, tutor, friends if you can. The University and student union have great counselling and resource services, and have financial access funds available.