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The Real Budget of a Student
We can all agree that being a student is expensive, but what is the real budget of a student?
We’re suddenly expected to manage our finances, but no one tells us what our real outgoings will look like.
Here we outline all the costs you can expect when moving to student halls. We’re also here to tell you how to manage your income and outgoings over the academic year.
List all your income
At university, your main source of income is usually your student loan, plus any wages from a part-time role.
If you haven’t already secured a part-time job, did you know that Nurtur offers several opportunities? Including student warden and student ambassador positions (drop us an email for more information).
Your first step is to add up your income, including:
- Student loan
- Any grants/bursaries
- Income from a part-time job
- Other expected income, such as from family
Calculate your outgoings
Then remove your essential outgoings:
- Tuition fees
- Accommodation fees
- Household bills like electricity (FYI, these are all included at Nurtur 😉)
- Transport costs (car/train/bus pass)
- Phone bill
- Groceries
This will leave you with a budget that can be spread across each month for things like new clothes, eating out, and socialising.
EXAMPLE BUDGET
Total income over the year: £26,700
- Student loan: £19,000
- Grant: £500
- Part-time work: £6,000 (£500 per month)
- Income from family: £1,200 (£100 per month)
Outgoings:
Total outgoings for the year: £19,230
- Tuition fees: £9,535
- Accommodation fees: £7,395 (based on a studio at Nurtur House, Sheffield)
- Household bills: £0 (it’s all included at Nurtur 😉)
- Transport costs: £200
- Phone bill: £600 (£50 a month)
- Groceries: £1,500 (£100 a month)
Income minus outgoings: £7,470 over the year = £622.50 per month
This gives you £155 a week to spend on eating out, study supplies, socialising, and having fun 😊
So there you have it, the real budget of a student. Ahhhh, we’re pleased that’s sorted.
All information provided in this blog post is not official and is based on examples only.
Page last reviewed: June 2025.