The Aspire Guide - Flipbook - Page 24
Creating Your Own Budget
Breaking down your costs into weekly spend can really help you to budget carefully and ensure that
your money lasts you through to the end of the year.
Imagine you are a student living away from home at University of Leeds. You are living in student
accommodation and your rent is £146 per week. This includes bills, but is self-catered, which means
you’ll have to do your own cooking. You have a part-time job in the SU, where you do one shift a week
(around 6 hours) at £8.21 per hour. Your budget for your time spent at university (which is 39 weeks a
year on average) might look something like this:
INCOME
Yearly (39 weeks)
Monthly
Weekly
Maintenance Loan*
£8,130
£833.80
£208.45
Grant/bursary/scholarship
£4,000
£410
£102.50
Job
£2,561.52
£284.61
£65.68
Family/gifts
£390
£40
£10
TOTAL:
£15,081.52
£1,568.41
£376.63
OUTGOINGS
Yearly (39 weeks)
Monthly
Weekly
Rent
£5,811
£584
£146
Groceries
£975
£100
£25
Takeaways & eating out
£975
£100
£25
Going out
£1,365
£140
£35
Transport
£585
£60
£15
Household bills**
£0
£0
£0
Mobile phone
£273
£28
£7
Clothes & shopping
£390
£40
£10
Health & wellbeing
£137
£14
£4
Holidays & events
£304
£31
£8
Gifts & charity
£195
£20
£5
Savings/Emergency fund
£1,950
£200
£50
Other
£390
£40
£10
TOTAL:
£13,350
£1,357
£340
*Maintenance Loan based on Household Income of £36,350.
**Not all accommodation costs will include bills so make sure you check this!
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