How do I budget and actually stick to it?

If you’d have asked me this question two years ago, I’d have to have said I don’t. That however was not healthy for my bank account or my mental health, being in my overdraft and seeing the money in my savings go down would make me worry about how I’d deal with this in the future. Luckily, I started to do a proper budget and learnt how to stick with it. The most important things to look at is what you have coming in whether that is your student loan, wages from a job or both. Once you have worked out how much you have to spend decide whether you will budget per week or per month, personally I do per week so I don’t spend my months budget straight away and anything I don’t spend in that week I can roll over to the next. Once all this is done, follow these tips to properly budget!


Rent and housing bills: paying rent and bills and paying them on time are the most important things when it comes to money. When money comes in put aside the money or pay your rent straight away. As students your loan will come in three chunks, one per term, and so if your rent and bills are being paid once a month it can be easy to see the money in your account and think you can spend it. Personally, I put it in a separate account so that I don’t feel inclined to spend it and it’s there for me when I need it. Once this is out of the way you can work out how much you have left per month. Of course, when it comes to student loans some people’s will cover a lot less than others so you may need to get a part-time job or get financial assistance from parents to make ends meet. It’s also important to note how much you can afford to spend on your accommodation, especially when it comes to uni halls as the prices can differ greatly. Deciding whether it is worth sacrificing other things for an en-suite bathroom when you could save money with a shared bathroom is something you’ll have to think about.  Also, in halls you are usually lucky enough that the bills are included and so you won’t need to worry about this separately, it will all be one payment of rent and bills. 

Food and other shopping necessities: food of course is the next big thing, when it comes to food there are many options to decide from which will impact how much you should budget for this. Personally, I don’t spend too much on my weekly shop as I go to a budget supermarket but then I also tend to get a takeaway or go out for a meal once or twice a month which I will factor into my food budget. The more high-end you go with your food and the more you buy the higher you should budget for this. The best thing to do when it comes to food is work out what you plan to eat in the week and make a shopping list that way you only buy what you need and save money and food by not buying what you will eventually throw away. I find when I shop without a list, I just grab what I fancy even if I won’t get chance to eat it before the use by date. Also, remember when you go to a supermarket you are not just buying food, factor in money for toiletries, cleaning products, stationary and the like.  This is especially important if you are catered, while you food may be included in rent, there will be other bits you need to pick up at the supermarket that you should include in your budget. 

Hobbies: A big part of university is getting involved with student life; whether that is joining a society, playing for a sports team or going on nights out. The reason I put this high up on the list is for a lot of these things I did not realise how expensive were until I got to uni. With sports teams and societies, you usually have to pay upfront at the start of the year which may feel like a big chunk going out of your pocket which is why I’d recommend a separate fresher’s budget. Your first week or two at uni will most likely be your most expensive and so budgeting a lot more for this is wise. It’s also important to remember that these organisations will have things going on throughout the year whether that’s matches, formals or socials, if this is something you want to be a part of this should be added to your budget.  You don’t want to miss out on going out with your teammates or fellow society members because you can’t afford it. The same goes for nights out, if you know that you want to go out multiple times a week you need to budget this so that you don’t suddenly find yourself in your overdraft. 

Treating yourself: as much as I’d love to tell you to treat yourself as much as you feel like it, this is not easy when on a budget. I found the best way to do this is to set yourself goals, if I can save this much money by this date I will go shopping. This could also work by saying, if in say three weeks it’s still on my mind I’ll treat myself. An example of this was when I wanted to splurge on a matching gym set so I told myself if I go to the gym at least three times a week for the next month I’ll treat myself. Not only did this make me feel like I deserved to treat myself, but it also gave me the peace of mind that I was investing in something I’d actually get use out of. 

Savings and emergency fund: As I said before I chose to budget each week and what I don’t spend rolls over to the next week. However, at the end of each month, I will move whatever money I don’t spend into savings or an emergency fund so that I have money for the future or for an emergency. 


Just remember learning to budget can take time and you won’t change your spending habits overnight. Once you start saving money, the joy that you’ll feel in having money saved will far exceed the short-term gratification of receiving a haul of clothes you probably won’t wear in a month’s time. I will add though, remember you’re going to university to enjoy yourself (and to study of course) so find what works best when it comes to spending. You don’t want to miss out on everything because you want to save all your money but then you may struggle later on if you blow all your money at once.  Balance is key!

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