Student budget calculator

<h1 style="text-align: left;">Student budget calculator</h1>

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<p>Whether it&rsquo;s rent and bills or groceries and nights out, you&rsquo;ve got all sorts of costs to juggle day after day.</p>
<p>But you don&rsquo;t need to be a financial expert to keep everything on track&hellip;</p>

<p>Our student budget calculator can help you stay on top of your finances, so you don&rsquo;t run out of money before your next payment.</p>

<h2>Get started with the student budget calculator</h2>

<p>Check out our <a href="https://www.moneywellness.com/debt-advice/types-of-debt/student-help" rel="follow">student hub</a> for tips, guides and advice to help you navigate uni life, including:</p>

UK student loans: everything you need to know

7 ways to stay on top of your finances at university

Why budgeting really matters at uni

<h2>Related guides</h2>

<h1>Help for students</h1>
<p>For many students, moving away to university is their first experience of managing their own finances.</p>
<p>To avoid getting into financial difficulty, it&rsquo;s important to know how to budget and be aware of the type of money issues you may encounter as a student.</p>

Shortcuts

<p>You may be covering your living costs with:</p>
<ul>
<li>a <a href="https://www.moneywellness.com/debt-advice/types-of-debt/student-debt/maintenance-loan">maintenance loan</a></li>
<li>money from your parents</li>
<li>wages from a job</li>
<li>scholarships or grants</li>
<li>a combination of these</li>
</ul>
<p>Wherever your money&rsquo;s coming from, it&rsquo;s a good idea to&nbsp;<a href="https://www.moneywellness.com/tools/budget-planner">create a budget</a> and check it regularly.</p>

<h3>If your income doesn&rsquo;t cover your expenses</h3>
<p>A lot of students have to live on a very tight budget, so this is a common problem. If you&rsquo;re in this position:</p>
<ul>
<li>consider whether you can increase your income e.g. by taking on part-time work</li>
<li>identify any areas you could make cutbacks e.g. sharing meal costs with housemates</li>
<li>check you&rsquo;re making the most of student offers e.g. student railcard and NUS discounts</li>
<li>get advice from your student union</li>
<li>visit Save the Student</li>
</ul>

<p>As an undergraduate, you may well get a <a href="https://www.moneywellness.com/debt-advice/types-of-debt/student-debt/student-loans">student loan</a> each year but you won&rsquo;t need to pay this back until you&rsquo;re earning above a certain amount.</p>
<p>When it comes to other forms of credit, you should only ever borrow what you need and what you can afford to pay back.</p>
<p>If you need to borrow while you&rsquo;re studying, an overdraft on a student bank account may be one of the better options.</p>
<p>You won&rsquo;t usually be charged to use a student overdraft. But you will have to repay everything you spend eventually.</p>

<p>Overdraft limits on student accounts are typically between &pound;500 and &pound;3,250.</p>
<p>Sometimes these limits are increased each academic year, either automatically or by applying to your bank.</p>
<p>At the end of your course, your student bank account is likely to be changed to a graduate account. This usually means your overdraft will remain interest-free for at least another year, giving you time to pay it off before charges are applied.</p>

<h2>Is it a good idea to borrow as a student?</h2>

Managing money in a shared property

<p>If you&rsquo;re living in shared accommodation, make sure everyone is paying their fair share of the bills.</p>
<p>It&rsquo;s also important to make sure bills are paid on time. Late payments could damage your <a href="https://www.moneywellness.com/debt-advice/how-can-i-improve-my-credit-score">credit rating</a> and make it harder to borrow in the future.</p>

Dealing with debt while you’re studying

<p>If you&rsquo;ve borrowed money and are struggling to pay it back, <a href="https://www.moneywellness.com/debt-advice">get debt advice</a> as soon as possible. Burying your head in the sand will only make matters worse.</p>

<h2>Latest news and tips for students</h2>
<p><a href="https://www.moneywellness.com/blog/help-for-students" rel="follow">View all of our latest student news posts</a></p>

<h2>Further help and information for students</h2>

Student finance and debt

Debt Advice

Types of debt

Daniel Woodhouse

Financial Promotions Manager

<p>For many students, moving away to university is their first experience of managing their own finances.<br>To avoid getting into financial difficulty, it&rsquo;s important to know how to budget and be aware of the type of money issues you may encounter as a student.</p>