FINANCE
The Higher Education Statistics Agency (HESA) reports a total of 2,937,155 students enrolled in 2022/23, an increase of 3% from 2021/22. Here is a collection of our top tips for both new and returning students to help you get ready for your new life as a student.
Create a Budget
Budgeting can help you remain on top of your finances, which can be challenging to manage as a student. Make a monthly budget by jotting down all of your normal costs, including rent, household expenditures, phone bills, transportation costs, course equipment or books, socialising, healthcare, and food. In the UK, there are a wide selection of supermarkets that range in price such as Waitrose that is more expensive, while Aldi is more budget friendly.
According to the British Council, you can budget around £1300-£1400 per month in London or £900-£1300 in the rest of the UK to cover your accommodation, bills, groceries, and a range of other living expenses as a student.
Find your Student Accommodation
Before resuming, try to arrange your accommodation. You definitely don't want to show up and have nowhere to stay. The majority of students either live in university accommodation known as "halls of residence " or rent a room from a private landlord. For the first year of your studies, living in a hall of residence is recommended because it saves you the effort of looking for a suitable place elsewhere.
Set up a Student Bank Account
It is advisable to open a bank account if you are studying and living in the UK. This makes paying bills and keeping your money safe easier.
It can take some time to open a bank account and another 10 days for your debit card to arrive. Online banks like Revolut and Monzo are very easy to open, and with minimal documentation required. High street banks like Barclays, NatWest, HSBC, Lloyds, Metro, amongst others are also important to have access to full and advanced banking services.
Get a Student Job
If you want to make money while you're studying, you need to know your options and rights to work in the UK. As a student, you'll be able to work up to 20 hours per week while studying. You can work full-time during the holidays, as well as before and after your course starts. When it comes to employment opportunities, students have many choices. Every institution will periodically post-employment openings on campus. Keep an eye out on-campus for jobs listings that are posted, and make sure to visit the Student Futures and Careers team who can offer advice and support. Recruitment companies including Indeed, Reed, Totaljobs, Jobtoday, Targetjobs, advertise vacancies on their websites.