Managing your money

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.

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 ???

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

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

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

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

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

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

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

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 ???

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

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

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

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

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

Other support

• Disabled Students Allowance (DSA)

• Hardship Funds

• Dependence allowance

• Parental contribution

• Part-time employment

• Savings

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

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.

Any question?

Contact:

Tel: 01392 xxxxxx

Xxxxxx@exeter.ac.uk

www.exeter.ac.uk

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