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New to university?

By QMAdvice 05 Sep 2021

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This blog was written by the Advice and Counselling Service at Queen Mary.

That probably means you’re new to budgeting. Either as a student who hasn’t lived away from home or in London before, or perhaps you’re returning to study after working, and you’re not used to managing on a student budget. Watch our short animation about budgeting below to see what the benefits are.

Either way, first things first. Congratulations and welcome to Queen Mary, University of London!

We make it easy for you to a plan a budget with our budgeting resources which help you calculate your total income and how much money you need for living costs. Check out our undergraduate and postgraduate pre-populated spreadsheets, which detail average expenses of living in London for a year.  There’s also a blank spreadsheet you can complete yourself. Not forgetting lots of great money saving tips you can have a look at!

Once you have worked out your budget and checked for any shortfall between your income and expenses, check the funding guides on our Money webpage to see if there’s any income you didn’t know about.

It’s a good idea to open a student bank account, as many banks offer interest-free overdrafts which can be useful extra income. Our Additional Sources of Undergraduate Funding and Postgraduate Funding advice guides explain more about the benefits of having a student account, and if you need help understanding the process, we have helpful guidance about that, too. Savethestudent lists the best student bank accounts and the Money Saving Expert website has a comparison of student accounts.

International students can check out our international money pages as well as the list of Save the Student international accounts.

We also offer dedicated support around budgeting and managing money to students without family contact (estranged) and care-experienced students.

Our guidance explains additional support for students with children and students with disabilities.

If you need one-to-one advice just contact us for support at any time. Our advice is free and confidential. You can contact us if you would like help planning your money for the year, or if you are in financial difficulties. We are here to help.


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