How to budget and plan your spending

To make a budget, you need to estimate:  

1. how much money is in your bank account and savings.
2. how much money you will receive in the future, and when. This could include loans, wages, bursaries and payments from family.
3. what your essential costs will be, such as food, bills, accommodation and transport. To estimate your future costs, check the average living costs for students in Bristol.

To create your budget, use our student budget calculator (Office document, 47kB).

Once you have a budget plan, you can work out how much money is left for non-essential items such as clothes, entertainment and hobbies. Prioritising essential costs first helps you avoid stress.

Find out how to lower your living costs. 

Paying bills

Compare prices to see if you can save money on your bills.

Always pay bills on time to avoid missed payments and extra charges. You should open your post, read your emails and deal with bills as soon as you can.  

If you are struggling with debt or missed payments, ask for support as soon as possible.

Saving for emergencies

You should save some money for unexpected costs or emergencies. To do this, put a small amount each month in a savings account if you can.  

Keep your savings separate from your everyday spending money. This way you would not spend it by accident.

You can also get a bank account with an overdraft.

Use bank accounts and apps to manage your money

Choose a student bank account with an app that helps you:  

• track spending and identify patterns
• set savings goals
• categorise payments.

Contact a Student money adviser

If you have a funding, budgeting or money-related question or worry, speak to a Student money adviser .