B - Budget Breakdown

Introduction

Rent

• Student halls might charge an all-in fee that includes rent, electricity, cleaning, and food. Increasingly they are becoming self-catering flats where you do your own cooking and everything is metered.
• If you don't have a washing machine, factor in some extra money for launderette prices.
• If you're bringing a telly don't forget about a licence! (they will catch up with you sooner or later).
• You may be renting from a private landlord. Remember you will have to pay your rent on time each month. This may be done by Direct Debit.

Bills

• If you're in a student house, you may have meters for electricity and gas, or quarterly bills.
• If you are in a private-let you may get bills through the door each month or each quarter (3 months) so remember to budget and plan for upcoming bills.
• Organise a system so that everyone pays their fair share.

Food and other groceries

• This should cover everything from cooking at home, to eating out, snacks, coffees, and toiletries and cleaning products.

Books and equipment

• You don't have to buy everything on the reading list, or get the brand new books, but you will need to get a few useful books and whatever else is on your equipment list.
• Some stuff can be bought cheaper second-hand.
• Wait until the course has started before buying. That way you can work out what you really need.
• Use the library as much as possible to keep costs down.

Stationery and photocopying

• This will include computer disks, paper, folders, photocopies of research papers and chapters in books you don't want to buy.
• Your university department may offer free or subsidised photocopying and equipment, so find out.

Going out

• Factor in enough for a social life, and stuff for sports, clubs and other interests.

Commuting costs

• This covers bus fares, petrol, train tickets, late-night taxis and more.
• Get hold of discount cards and season passes as early as possible.
• Book fares in advance to get the best deals.
• Young Persons Railcard is a cheaper way of getting around the island.

Clothes

• Many stores offer a 10% discount when you can prove you're a student. Remember the golden rule: if you don't ask, you don't get.
• Not all shops advertise their discounts, but once you flash your student ID their generous sides might get the better of them.

Phone and internet

• Keeping in touch can be costly, whether it's paying off your ISP or topping up the credit on your mobile. Shop around for the best deals.

Insurance

• This is well worth having, especially if it's a student deal. Think about how much it would cost to replace everything you own.

Interest and fines

• Try to avoid overdraft charges and late fines at the library or video rental shops. Still, it does happen so remember to budget a bit of money in for mistakes!

A FEW CASE STUDIES .. USE YOUR TEAM!