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How to budget

Leeds Trinity University > Student finance > How to budget
Here is a basic example of how to calculate your expected income over the academic year. This is based on a 41-week academic year, including the Christmas and Easter vacations, for three year undergraduate honours courses. 

Calculate your total income​

Based on a household income of £30,000 and a non-final year student living away from the parental home:

​Maintenance Support​£8,303
​8 hours of part-time work a week​£49.20 per week (£2,017 across 41 weeks)
​Academic year total​£10,320
​Budget for each week (41 weeks) ​​£251

Calculate your essential expenditure

Try to be realistic and as accurate as possible when you think through your weekly expenditure figures. You can adjust your figures as the situation changes.

The below example of a basic student budget (based on figures from 2019/20) will help you to make an outline of things to include:​

​Ess​ential expenditure ​Private renting weekly amount ​Self-catering halls weekly amount
​Accommodation​£82 (bills not included)​£129 (en-suite)
​Utility bills including telephone​£25​£5
​TV License/contents insurance​£7​£4
​Travel​£21​£7
​Food and household goods​£38​£38
​Essential clothes and laundry​£10​£10
​Essential books and study-related costs​£10​£10
​Weekly total​£193​£203
​Total week incoming​£251​£251

Surplus from total weekly income minus total expenditure

​+ £58 per week

​+ £48 per week

For information on useful spreadsheets and apps to help you budget visit www.moneysavingexpert.com/students/student-budgeting-planner and tips on managing, saving and making money visit www.savethestudent.org/takeaway.

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Follow advice and opportun​ities on the Leeds Trinity Student Money Advice Facebook group. ​