managing your money. aims & objectives by the end of this session you will have an understanding...
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Managing your money
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Aims & Objectives
By the end of this session you will have an understanding of…
• The types of things that students spend their money on.
• The cost of living.
• What financial support is available to you as a student.
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What do students spend their money on?
Potential Expenditure – First Year:
Accommodation
Books and Equipment
Food and Drink
Clubs, Societies and Sports
Clothing
TV licence
Travel home
Toiletries and haircuts
Telephone and internet
Social Life
Housing/Damage Deposit for next year
TOTAL ???
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Accommodation
LIVING AT HOME No rent to pay but limited
freedom. £30 pw
SELF CATERED UNI FLAT Meet new people but you buy your own food.
£123 pw
SHARED HOUSE Living with friends and total freedom but you pay
rent & bills to pay.£85 pw
CATERED HALLS Luxury facilities with all
bills and most food included.£180 pw
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Books & Equipment
CORE TEXTS ONLYOnly buy what you will read and buy second
hand. £6 pw
PHOTCOPY WHAT YOU NEEDDon’t spend money on whole books - but will you have all
the text? £5pw
BUY EVERY BOOK ON READING LIST
No need for library - but will you read them all?
£85 pw
ONLY BORROW FROM LIBRARY
Loan for free - but will they have a copy of your book?
£0 pw
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Food
HOME COOKINGCheap groceries, eat
healthier but you need to shop regularly.
£30 pw
RESTAURANTS Luxurious and no washing up but your friends may not be
able to afford to eat with you.
£140 pw
TAKE-AWAY MEALSTasty meals and no need to
cook but not healthy if eaten everyday.
£85 pw
READY MADE MEALSQuick and easy and cheaper
than eating out but not healthy if eaten everyday.
£180 pw
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Clothing
HIGH STREETLatest fashions and
student discounts make it not too expensive.
£30 pw
CLOTHES SWAPSwap with friends to create
a free wardrobe but may not always be to taste.
£0 pw
HIGH END HIGH STREET You will be the cool cat
on campus but it will cost a lot to maintain the image!
£50 pw
BUY SECOND HANDA unique look as you can
create your own style. Very cheap option.
£10 pw
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Travel
TAXI Doesn’t require
walking/public transport but it is not cheap!
£35 pw
PUBLIC TRANSPORTCheap and you get a student
discount but can be overcrowded and smelly.
£12 pw
OWN CARImpresses your friends as you have complete freedom but it
is an expensive option. £50 pw
WALKINGNo cost at all and keeps you
fit and healthy but takes time/effort.
£0 pw
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Telephone
SIM ONLYFree texts and minutes
and a fixed term contract but no new phone.
£5 pw
PAY AS YOU GO Monetary control but you may
not have credit in times of need and there’s an upfront cost for the handset.
£5 pw
NO PHONENo bills to pay but you’re unable to contact people
easily. £0 pw
ALL INCLUSIVE CONTRACTUnlimited use and a state of the art phone but fixed term
and expensive contract. £15 pw
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Social Life
STUDENT ACTIVITIES Student discounts and you get to try something
new! £35 pw
DON’T GO OUT Saves lots of money but it’s
not much fun and your friends may get bored.
£0 pw
THREE NIGHTS OUT A WEEKGood social life with
different things to do - but can you afford it?
£50 pw
PARTY ANIMAL Lots of fun and you make lots of new friends but you
have no time for work!£100 pw
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What do students spend their money on?
Potential Expenditure – First Year:
Accommodation
Books and Equipment
Food and Drink
Clubs, Societies and Sports
Clothing
TV licence
Travel home
Toiletries and haircuts
Telephone and internet
Social Life
Housing/Damage Deposit for next year
TOTAL ???
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Weekly living costs
Potential Expenditure per week – First Year student living in catered accommodation (2014/15)
Accommodation £167.90
Books and Equipment £9.37
Food and Drink £20
Clubs, Societies and Sports £8.43
Clothing £8.43
TV licence £3
Travel home £4.68
Toiletries and haircuts £4.68
Telephone and internet £8.43
Social Life £35
Housing/Damage Deposit for next year £11.56
TOTAL £281.48
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Sources of Income: Government
Type of funding
Maintenance loan
Amount Repayable Non-repayable
Means tested
Non-means tested
Full value up to
£9,000Tuition fee loan
Up to£8,200
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Support for living costs
Household Income
Maintenance loan
£25,000 or less £8,200£30,000 £7,612£35,000 £7,023£40,000 £6,434£50,000 £5,256£60,000 £4,078£62,180 £3,821
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Sources of Income:
Type of funding Repayable Non-repayable
Means tested
Non-means tested
Fee waivers and bursaries
Scholarships for academic excellence
Scholarships for music and sport
Scholarships for specific schemes
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University support
Support Household income Bursary amount
Access to Exeter bursaries*<£16,000 £2,000 for year 1
£1,500 for subsequent years
£16,001 - £25,000 £1,000 for year 1£1000 for subsequent years
Care leavers will receive a full fee waiver for all years of study and support for additional accommodation costs
*available for 2015/16 entry
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Other support
• Disabled Students Allowance (DSA)
• Hardship Funds
• Dependence allowance
• Parental contribution
• Part-time employment
• Savings
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Expenditure Vs Income
The trick is to get the balance right so that your expenditure
(money out) isn’t greater than your Income (money in).
INCOMEEXPENDITURE
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To sum up
You should all now…
• Be aware of the types of things that students spend their
money on.
• The cost of living.
• Know what financial support is available to you as a student.
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Any question?
Contact:
Tel: 01392 xxxxxx
www.exeter.ac.uk
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