A budget is less about restriction and more about knowing where your money goes so you can make choices on purpose.
Start with fixed costs
List what you must pay every month: rent, bills, phone, travel passes and subscriptions. Whatever remains is your flexible money.
Use weekly limits for flexible spending
Monthly budgets are hard to feel. Divide food and social spending into weekly amounts, which are easier to track and adjust.
Plan for irregular costs
- Textbooks and printing.
- Travel home or trips during holidays.
- Winter heating bills, which can be noticeably higher.
A small buffer each month prevents a single surprise from becoming a crisis.
If money becomes a serious worry, talk to your university's student support or money advice team early.
Written by
Fardin Fahad is a London-based entrepreneur, writer and the founder of Studycation, a UK education consultancy that helps international students with education, careers and building a life in the UK.
About Fardin