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PostPosted: Sun Sep 04, 2011 9:28 am 
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Joined: Tue Apr 28, 2009 9:00 am
Posts: 53
Location: South Manchester
This is our first experience of university and sorting out finances.
He has the basic loan, no grants or anything else.
We plan to make up the shortfall in his accommodation costs, but how much would you give a week for food etc ?
What other things did you pay for apart from food ?
Thanks


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PostPosted: Sun Sep 04, 2011 12:03 pm 
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Joined: Thu Dec 18, 2008 10:12 am
Posts: 3758
Location: Berkshire
We made the decision to pay the accommodation fees for our son, and leave him to spend his loan on living costs, this has worked quite well, and he has managed to live off his loan, just about. It is a very expensive decision, but better than having to fork out unknown amounts at all sorts of times, with the benefit of him having an understanding of budgeting etc. That is the theory anyway. He's going into his final year now, and I think has managed fairly well.


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PostPosted: Sun Sep 04, 2011 1:22 pm 
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Joined: Thu Nov 08, 2007 9:57 pm
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Last edited by Belinda on Sat Nov 03, 2012 6:46 pm, edited 1 time in total.

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PostPosted: Sun Sep 04, 2011 8:13 pm 
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Joined: Tue Apr 28, 2009 9:00 am
Posts: 53
Location: South Manchester
That's very useful. Thank you.
Had forgotten about all the expenses in fresher's week too.


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PostPosted: Mon Sep 19, 2011 4:14 pm 
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Joined: Tue Mar 04, 2008 2:28 pm
Posts: 2354
Agree with above - with both DCs we have paid accommodation and they have used loan to cover living expenses. With eldest (who was at Cambridge) we topped up with about £500 pa - not due to excessive expenditure but additional costs due to lifestyle resulting from combination of his course, sporting interests and the way his college charged for food/facilities.

Imagine it is different in London due to much higher costs (DC has bursury for his PG study in London & is still needing extra for tube fares)

Both had a rough budget to start with & had to keep records (with varying success) during term so we could review together at Christmas.

Def. good idea to give them a lump sum to start the first year - ours used their own savings for this but I guess it depends on family circumstances how it works out.


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PostPosted: Mon Sep 19, 2011 4:22 pm 
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Joined: Mon Jun 18, 2007 2:32 pm
Posts: 6963
Location: East Kent
I have also got a Sainsbury's "Meal Ticket". I can put money on the card from my end and he can spend it with his half.

I aim to make sure there is about £30 on it for emergency food in addition to his budget ( not too much that it is tempting to spend it on beer and fags...). We did a shop together yesterday and he OK for essentials.


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PostPosted: Mon Sep 19, 2011 5:09 pm 
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Joined: Thu Mar 09, 2006 6:09 pm
Posts: 379
Location: groombridge, e.sussex
Although we have a couple of years to go this topic is v interesting, especially when planning finance etc. Our weekly bill at home should be slashed which will be great!

Yoyo, I'd seen the card in Sainsburys and thought it a great idea, as long as a store nearby. Do other supermarkets do the same? DH said it would all be spent on "beer and fags" so is there a way of restricting spending on "extras"? Probably not, otherwise Sainsburys would loose out!!


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PostPosted: Mon Sep 19, 2011 5:39 pm 
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Joined: Mon Jun 18, 2007 2:32 pm
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Location: East Kent
I'm not sure if other supermarkets do it, the Sainsbury's is a bit farther away than the others so it has to be an emergency! I suppose you could limit it to a small amount, just enough for bread, milk and beans!


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PostPosted: Mon Sep 19, 2011 5:51 pm 
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Joined: Thu Mar 09, 2006 6:09 pm
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Location: groombridge, e.sussex
That's all he'll need any way!!


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PostPosted: Mon Sep 19, 2011 6:16 pm 
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Joined: Wed May 09, 2007 2:09 pm
Posts: 875
Location: Solihull, West Midlands
DS2 has just informed me that the nearest food outlet to his shared flat next year is M&S.......


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