Important budgeting tips before moving into student accommodation

Important budgeting tips before moving into student accommodation

30/04/2024 by

Kate

No matter whether you choose to live in halls of residence or prefer to live off-campus, some students may not be used to managing their own finances and meal plans. With this in mind, here are some useful tips on what to budget for.

Having chosen your accommodation, the first thing is to work out how you will manage your costs. It’s possible to get energy, water, and broadband bills included for student accommodation in Chester, but if this isn’t the case, you and your housemates will need to agree how you’ll pay the utility bills.

Even with utility bills included in the rent, there will likely be other monthly costs. For example, even if you don’t have a television in the house, you are legally obliged to have a TV License if you stream broadcast television or watch catch-up on BBC iPlayer. You may also want to consider getting contents insurance if you have any expensive equipment or other items. As you’ll likely want a mobile phone, you should also factor in the monthly cost of this.

Next, set yourself a budget for your food. Preparing food at home is generally the cheapest option, but some university venues or local spots may offer good value meals when you’re too busy to cook. Finally, work out your travel costs for getting to lectures and tutorials. If you live fairly close to campus, you may prefer to walk or cycle, but otherwise, you’ll need to consider how much you will be spending on public transport.

Written By

Kate

Kate