Budgeting and living expenses
How to budget effectively as a student and living costs you need to consider.
On this page
Budgeting and managing your day-to-day living costs are important life skills to learn.
Getting started with this may feel overwhelming, especially if this is the first time you have been entirely responsible for managing your finances. However, there is support available.
Budgeting calculator and planner
Create your budget with our student budget calculator (Office document, 47kB).
Enter the money you have coming in and estimate your outgoings to get an idea of how much money you could have left over.
Our budgeting planner breaks down expenses into the categories that students typically spend money on.
You will have some essential costs, such as accommodation, bills, food, travel and course costs. Other costs are more flexible and include hobbies, entertainment and clothing. With a budget, you will know how much you can afford to spend on these non-essential expenses.
Living costs in Bristol
We spoke to a range of undergraduate and postgraduate students in the 2025/26 academic year to ask them about their cost of living as a student in Bristol.
This revealed that the average monthly spend is:
- £1,401 for undergraduate students
- £1,862 for postgraduate students
A student’s average monthly spend includes:
| Living cost categories | Undergraduate students | Postgraduate students |
|---|---|---|
| Rent/Mortgage (monthly) | £775.78 | £871.47 |
| Electricity, gas and water (monthly) | £40.64 | £74.83 |
| Internet, landline & mobile (monthly) | £16.73 | £24.99 |
| Household shop (monthly) | £173.85 | £271.86 |
| Public transport (monthly) | £34.82 | £34.68 |
| Private transport (annual/one-off purchases) | £90.27 | £181.56 |
| Private transport (monthly) | £14.86 | £21.90 |
| Medical expenses (monthly) | £10.58 | £21.83 |
| Laundromats/dry cleaning (monthly) | £7.69 | £3.54 |
| Home entertainment (monthly) | £12.98 | £27.90 |
| Takeaway food (monthly) | £20.47 | £27.46 |
| Meals out (monthly) | £19.96 | £52.87 |
| Nights out (monthly) | £49.92 | £41 |
| Clothes & personal grooming (monthly) | £28.33 | £45.63 |
| Gym, fitness & wellness (monthly) | £15.24 | £28.98 |
Living costs will vary depending on individual circumstances.
Private renting expenses
- Read our guidance on private renting costs.
- Compare energy prices and save money on your bills with Save the Student.
- Use the Save the Student rent calculator to discover how much monthly rent you can afford.
- Find out how to save money on renting with Save the Student.
Budgeting tips
Save money for special occasions and unexpected costs
Save a little each month to help with special occasions, such as Christmas or birthdays, or unexpected costs like your laptop breaking.
Keep your spending money and savings in separate accounts.
Once you know how much you have to spend each week, you can transfer this money to a separate account from your savings. This will prevent you from accidentally spending the money you need for essential items.
Choose an app-based bank account for help with budgeting
Many app-based bank accounts allow you to set spending goals and categorise your spending.
Read about the best app-based banks for budgeting by Save the Student.
Use online or mobile banking
Manage your finances online to track your spending patterns and monitor your bank balance.
Always open your post and read your emails
Deal with bills and statements straight away. If you miss a regular direct debit payment, this can affect your credit rating. Contact your bank or the relevant company immediately.
Money management resources and support
- Talk to a Money Adviser if you are experiencing money worries or are dealing with debt.
- Read more budgeting tips for students on the Money Saving Expert website.
- Find out about the University's hardship funds for those experiencing financial difficulty.
Money advice drop-in
If you have a funding worry or a question, speak to our Student Money Adviser by having a private call with them.