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How to budget

Leeds Trinity University > Student finance > How to budget

​​​​​​Here is a step-by-step guide to calculating 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​

An example total income based on a household income of £30,000 and the student living away from the parental home would be:



​Maintenance Support​£8,076
​8 hours of part-time work a week​£41 per week, £1,681 across 41 weeks
​Academic year total​£9,757
​Budget for each week (41 weeks) ​​£237

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 2018/19) will help you to make an outline of things to include:​

​Ess​ential expenditure ​Private renting weekly amount ​Self-catering halls weekly amount
​Accommodation​£78 (bills not included)​£125 (en-suite)
​Utility bills including telephone​£23​£5
​TV License/contents insurance​£6​£3
​Travel​£20​£7
​Food and household goods​£38​£38
​Essential clothes and laundry​£10​£10
​Essential books and study-related costs​£10​£10
​Weekly total​£185​£198
​Total week incoming​£237​£237

Surplus from total weekly income minus total expenditure

​+ £52 per week

​+ £39 per week

 

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