university budget · 2018. 5. 23. · this budget allows them to 'step into being a uni...
TRANSCRIPT
University Budget
www.mybnk.org [email protected] 020 7377 8770 © MyBnk 2011. MyBnk is a company limited by guarantee number 6215005, and a registered charity number 1123791
A great resource for sixth formers considering university - this budget allows them to 'step into being a uni student' and calculate the costs of their lifestyle.
Time: 20 – 30 minutes Activity
Get students to choose a university scenario:
o Whether they'll be living at home or moving out into university halls / private rented?
o Which city they're considering going to university in – in or outside of London?
They can then research average student living costs. This can be done by researching on-line - often average costs are listed on particular university websites.
Students should then add their own 'take' of how much they'd spend on, e.g. food, socialising, clothes etc.
They can also use the student finance calculator to estimate the loan they would be eligible for, inputting this into their budget.
Finally, students can see how their income compares to their spending – do they have money left over to save, or is there a defecit?
Extension Task:
Students can research what kind of jobs are available at their particular university, and include any potential income from a student job into their budget income.
Students could also research what the minimum wage / tax allowance rules are for young people of university age, to get a better picture of how much they could expect to earn.
This activity is taken from MyBnk’s jampacked 2 hour Uni Dosh programme!
©MyBnk
TOTAL INCOME
Student Loans
Grants/Bursaries/Scholarships
Money from parents
Part i e jo
INCOME
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MY MONTHLY BUDGET
Formal
Commitments
Rent
Uility Bills Water, Ele tri ity, Gas
Pho e, Mo ile, I ter et, Sky
TV Licence
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AMOUNT £
OUTGOINGS
Everyday
Spending
Food
Tra el Bus, Tu e, Trai
Books, Pri i g, Staio ary
Toiletries
Lau derete
Sports, Ho ies, Gy
DVDs, Musi , Ga i g
E tertai e t Ci e a, Clu i g, Co erts
Cigaretes
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Occasional
Costs
Birthdays, Christ as
Clothi g, Shoes, A essories
Meals out, Takea ays
U i ersity Balls, E e ts
Holidays
Beauty, Groo i g
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If you have
a car
Fuel
Insurance
Road Tax
MOT Cerii ate if your ar is o er 3 years old
Ser i i g, Mai te a e allo for e tyres
Parki g, Fi es
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Other
TOTAL EXPENDITURE
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BALANCEAMOUNT £
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Total monthly income:
Total monthly outgoings:
Mo thly surplus/dei it: