Being able to manage your money and learning to plan for paying rent, utility bills, books, food and other essential costs is important to avoid financial concerns affecting your studies.
Here are some tips to help you with budgeting:
Create a budget
We suggest that you create a budget for each term and terms can vary in length. Take a look at the University Calendar.
Make a list of all your income channels
- Student Finance – remember that student finance is usually paid tostudents in 3 instalments – September, January and after Easter
- NHS Funding – usually paid in monthly installments
- Bursaries
- Scholarships
- Wages
- Savings
- Financial support for family
- Other
Make a list of all your costs
- Rent
- Utility Bills – electricity, gas, Water Rates, TV License etc
- Food
- Course related costs – field trips, lab coats etc
- Socialising
- Subscriptions – gym memberships, dentist, contact lenses etc
- Birthdays and Christmas
- Travel – home for visits or placements
- And any other cost you know you have
Download a simple budget sheet
If you are coming to university straight from school or college, we would advise you to draw up a budget with your parent(s) / guardians as they can help you.
It will also help your family understand your financial situation as a student and if they can help you financially.
Need Help?
If you need help with putting together a budget, or need financial advice on managing your money, please speak to a member of staff in the either via email moneysupport@bangor.ac.uk or telephone 01248 38 3566 / 3637.
You could also access some of the following useful websites:
- Academy of Money Open Learn
- All students have access to the developed by MoneySavingExpert Martin Lewis and the Open University.
- This training opportunity provides up to 12 hours of information and offers certification upon completion.
- Access the
Student bank accounts often provide students with an interest-free overdraft facility. An overdraft means you can borrow money (to a pre-agreed limit) without paying interest. Most banks will need your student finance to be paid into that account to activate a student account.
To check if you are eligible for a student bank account, check with your current bank or shop around as banks may offer you incentives to open a student bank account with them, such as discount cards or vouchers.
Choose a bank account that will suit you and remember to read the T&C’s. Don’t be persuaded by the largest overdraft or discount card.
More information on the different accounts available can be found on or .
For further help and support contact the Money Support Unit moneysupport@bangor.ac.uk