If you're away from home for the first time it can be a daunting experience, and if you receive payments from a student loan it can be tempting to spend the whole lot at once. Or maybe you've left a job and are now trying to live on a student loan (perhaps with children to support). Whatever situation applies to you, you probably need to make a little money go a long way.
Key things you need to know about budgeting on a low income:
Take a closer look at our guidance below on online budgeting, money-saving tips and debt.
There are several websites where you can put in details about your income and expenditure. An online calculator then works out the difference. Change a few figures and see the impact of spending more or less on different things or the result if you gave up a part-time job.
If you are an undergraduate student funded by SAAS, Student Finance England/Wales or Northern Ireland, take a look at our own budgeting calculator. It's on the Student Money Advice pages on Canvas.
Other sites include:
Also – you can take the Money Saving IQ test here to assess your money-saving skills and analyse your strengths and weaknesses to boost your consumer power.
What to do next:
It’s YOUR money; don’t settle for less, plan for more.
Write it down
Eat well for less
Some useful sites
Anyone can fall into debt from time to time, however it is important that you don’t bury your head in the sand and ignore the debt. There are some easy practical steps you can take to avoid debt.
Trying to avoid debt