When your loan comes in at the start of term it will seem as though you've won the lottery, and it's easy to forget that you've got to make that last for the whole term and cover things such as fees, rent, bills, socialising, books, clothes, insurance and food.
The best way to make your money last is to create a budget. You'll need to take into consideration any money/income that you have such as loans, scholarships or bursaries, income from a job, help from parents or savings, and then work out all of your outgoings.
This Budget Calculator from UCAS is a useful way to work all of this out. You can use the estimated costs below to help you, however your individual lifestyle and spending habits will have a big impact on how much you spend each month.
Costs per month
- Accommodation: £325 - £915* (depending on choice)
- Food: £120 - 160
- Toiletries: £20
- Telephone: £20 - 40
- Travel: £50
- TV licence: £12
- Sports/societies: £50
- Laundry: £20
- Books/equipment: £40
- Insurance: £12
- Clothes/shoes: £40
Basic costs per month total: approximately £709.00 - £1359.00
* Prices correct as of July 2015
For catered accommodation add approximately another £200 per month onto the total.
If you need to apply for a visa, you must show evidence that you have enough money to support yourself and any dependents in the UK (see UK Visas and Immigration Website for details). Please note that the living expenses stated by the UK Visas and Immigration are an absolute minimum for visa application purposes.
It is difficult to predict exactly how much money you will need as every student is different, but the information on this page is intended to give you some guidance based on a single person living in self-catered University of Leicester accommodation. These costs do not include entertainment/socialising as this is an individual expense, but you should research these costs yourself and decide how much you think you will need.
Expenses will be significantly higher if you are accompanied by a dependant family member, use a mobile phone extensively, socialise a lot, smoke or buy a car. You may also be able to delete some of these basic costs, if you are confident that you won’t need to budget for them e.g. if you do not intend to play sports or join a society.
This International Student Calculator may be useful to help with this.