BUDGETING

As an overseas student with limited access to local funding you will need to budget to ensure that you have enough funds throughout your stay in the UK. This is probably the best way of calculating your financial needs and gives you a complete picture of your financial affairs. Most colleges and universities, the NUS and various banks offer an online budget planner which should help you to list and understand your income and expenditure. Budget planners should also be available in paper format from your Student Advice Centre.

You will also have to take into account that your income and expenditure may differ from term time to vacation time. While planning to budget bear in mind that some months can be more expensive than the others e.g. winter, or during vacations when you want to go back home. Your biggest expense will be your fees, followed by rent, food, as well as study and leisure expenses. While budgeting remember to be realistic and not to overestimate your income. Try to look for ways to avoid spending too much money. The tips on saving below and the budget planner at the end of this chapter should help you.

FINANCIAL DIFFICULTIES

If you encounter any unforeseen financial difficulties then contact your International Office, Student Advice Centre or the Citizens Advice Bureau immediately. Most colleges and universities administer a hardship fund or loan for international students. Universities also have a list of local charities that might be able to help you. UKCOSA (www.ukcosa.org.uk) has produced a guide on sources of funding for international students. EEA students, depending upon their situation, might be able to claim some funds from the government.

WHAT WOULD IT COST YOU?

The following are prices of items you may need during your stay here in the UK. These prices are intended as a guide only. Prices vary regionally in the UK and are around 10–15 per cent cheaper in Scotland, Northern Ireland and Northern England. Prices vary locally as well. Remember it is cheaper to buy from supermarkets or local markets than from corner shops.

• Meals:a normal lunch costs about £3.
• Take-awaymeals (Indian, Chinese and other): £6.
• Beer:£5 for eight cans (500 ml each in supermarkets), £2.75 for a pint in a pub, £2.50 for a 300 ml bottle in a club. Some clubs have cheaper student nights.
• Chocolatebar: from 40p.
• Fastfood meal (burgers): £3.50.
• Pizza:from £6.99 for 9″ pizza.
• Canof soft drink: 50p.
• Bottledwater: 60p.
• Coffee/tea/chocolate(a regular cup): £1.50.
• Readymeals: £3.50.
• Busticket: £1.20 upwards depending upon the distance.
• Cigarettes:from £3.80 to £5.10 for a packet of 20.
• Condoms:£2 for a pack of three.
• Haircut: from £10 for men and up to £40 for women.
• Shampoo:£2.50.
• Toothbrush:£1.50.
• Toothpaste(l00g): £2.
• Photographicfilm: £3.50 for 24 pictures.
• Developingcosts for photos: from £3.99.
• Milk:40p for one pint.
• Bread:50p for a loaf.
• Chips(small portion): £1.
• CD:£7-£15.
• DVD:£10-£17.
• Newspapers:60p on weekdays and £1.20 on Saturdays and Sundays at newsagents (and 20p on weekdays at the Students’ Union shop).
• Cinema:£6.50 without student ID, £4.50 with student ID.
• Movierental: £4 per night for new releases and £2.75 for others.
• Petrol:95p a litre.
• Diesel:98p a litre.

Budget planner

The planner below should help calculate your income and expenditure.