鈥淎t the 黑料吃瓜网, we take great pride in providing a quality, supportive learning environment for our students.鈥�
Professor George E Holmes DL | President & Vice Chancellor
鈥�...tutors are very supportive and you鈥檙e not just a student ID number, at this university you are an individual with a name.鈥�
Ellisse Vernon | BSc (Hons) Adult Nursing
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The cost-of-living crisis is affecting millions of people across the country! The recent price rises and high inflation has resulted in many reconsidering their university plans.
However, you can 'bite back' with good planning and budgeting.
We have put together advice and tips on how to successfully move in the right direction, sussing the discounts and squeezing more from your budget.
Continue reading to find out how to save that dosh!
There is a lot to consider when managing your money, from tuition fees and housing to food, course materials and your social life. Student funding may seem like a lot when it lands in your bank account, but it is designed to last for one semester (typically 16 weeks). To make sure this money lasts, you will need to plan and budget.
Most students have to live on a limited income while at university, so it鈥檚 essential that you are prepared by getting your finances in order before you arrive, and making a realistic spending plan at the beginning of each year. With many students wishing they鈥檇 learnt more about personal finance and money management before they graduated.
Budgeting is the only method that puts you in control of your spending. It is an essential life skill and can help you develop good money habits by encouraging you to think about your spending in a practical way. Budgeting can also be used to save money. You might want to budget to help provide for an unpaid placement or a summer holiday abroad as a treat for passing your year!
Budgeting your time, energy and money will help to prevent money worries and help you get the most out of your student experience.
It鈥檚 really important to draw up and keep to a realistic budget. If you, don鈥檛 you could get confused over how much money you have coming in and going out. It鈥檚 important to work out your budget before you start your studies to make sure you have enough money to live on.
If you are receiving the maintenance from Student Finance your student loan will come in three instalments.
Please apply for Student Finance as soon as possible, you do not need to have a place secured at university before applying. Late applications can result in a delay in receiving these payments.
Planning your budget will help you ensure that your payments cover all the essentials, such as rent, food and other expenses.
Plan your budget in 3 simple steps:
1. Figure out your income: Add up your maintenance loan, any bursaries you receive, money from family members if they send you money regularly and any regular income you get from any employment.
2. Identify the essentials: Put aside the money you need for essentials like rent and utility bills (if in private accommodation). You鈥檒l also want to consider food and travel costs, plus any essential committed spending, e.g.: Mobile phone bill.
3. Calculate what鈥檚 left over: Divide what you have left by the number of weeks the money will need to last. This will be the money you have to leftover to save, spend socialising or buying non-essential items.
To help you plan your budget please use the , you can tailor this to your spending habits and provide you an insight into what鈥檚 to come.
We also partner with who allow applicants/offer holders to access their platform before they enrol.
You can register with a personal email address before enrolling and change your account to a student account after you have enrolled and received your university email address.
Blackbullion has a number of resources on there that will help you to 鈥淧repare for Uni鈥� this includes videos on: Money management, budgeting, student lifestyle and costs, accommodation, money tips and many more!
Alongside academic essentials (course specific items) you may have to purchase, there will be other things you should remember to include that you might not have thought about.
For example, you might want to consider the following:
You will also need to consider the cost of securing your accommodation for the next academic year, as you may need to pay a deposit to letting agencies in the spring/summer terms to ensure that you have somewhere to live next year.
All students need a bank account of their own. For your own safety, do not keep large amounts of money in your bag or in your accommodation and pay any large sums of money into a bank account as soon as you can.
If you have not opened a bank account before you arrive at University, it should be the first thing you do once you are settled in. There are many banks in Bolton town centre and the surrounding Greater Manchester area.
Choose your carefully. Many banks offer perks such as free rail cards, vouchers or cheap cinema tickets. Make sure you do your research to find the best deal. A free overdraft is useful but only as a backup or else you鈥檙e just getting into debt.
Look for hidden charges in the small print.
When shopping online, be sure to look for student discount offers.
These are often found through providers such as聽, which has 3 membership options (TOTUM lite is free), but there are free options too such as 补苍诲听.
*Make sure you ask in-store as well but remember that discounts and special offers are often only there to persuade you to part with your cash.
If you use public transport, look at investing in a or . If you鈥檙e using public transport everyday then this can save you loads. Even better, cycle or walk whenever possible. You will get fit and help the environment as well 鈥� The University also operates a free mini bus for students to get across campus (Orlando Village Halls of Residence, Senate House, Greater Manchester Business School & Queens Campus).
If you do get into financial difficulty, it鈥檚 important to ask for help. Debts will only grow if you ignore them and a bad credit rating can cause you problems later.
Contact a member of our Student Funding Team for further information or to book a one- to-one appointment if you need further help.
Telephone: 01204 903497
Email: studentfunding@bolton.ac.uk
Location: Student Centre
Timings: Tuesday & Thursday 10am-12pm
In certain circumstances you may also be eligible for help from the 黑料吃瓜网 Student Support Fund.
Or you can seek confidential support by contacting or the
It鈥檚 important to note that worries about money can have an impact on your mental health. The 黑料吃瓜网 have staff in our Life Lounge who can support you.
黑料吃瓜网 enrolled students who reside in the UK can access: Wellbeing practitioners, Mental Health Advisors, Counsellors and Cognitive Behavioural Therapist. These staff with your permission will also work with our Student Funding Advisors to support you with any such challenges. /student-life/student-support/life-lounge/
Ideas:
Student Funding: studentfunding@bolton.ac.uk or Telephone 01204 903497
Student Advisors: studentadvisors@bolton.ac.uk or Telephone 01204 903733
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