Living costs and budgeting

Cost of living support for current students

Your living expenses will depend on a variety of things, including your accommodation choices and your lifestyle. We’ve provided some helpful advice on how to manage your money, including budgeting top tips and the additional support available here at BU.

There is also additional information if you are planning on bringing your family with you to Bournemouth, or are joining BU from Nigeria to help you prepare for your studies.

Cost of living support

We are aware how the cost of living is increasingly a concern for prospective students considering whether to go to university or not. We are committed to supporting our students throughout the current climate. See all the ways we and our Students’ Union (SUBU) are supporting our students financially, including the SUBU Community Kitchen, Soup-er Mondays and warm spaces on campus to relax and study.

Living costs

Setting up a budget is all well and good, but it can be difficult to plan properly before you’ve arrived at university and worked out how much everything costs each week or month.

The information below is designed as a guide to your living expenses at university. You will be able to calculate your own personal budget once you know your outgoings. Please note that the table below is accurate for the 2024-25 academic year.

Expenditure	Per month	Per year	Notes
Rent (if you are living in university accommodation, this is paid in one instalment each term)		£6,024 to £8,092	Average rent for a standard room on a 42-week tenancy. Private rented accommodation tenancy agreements are usually 11 months. You can compare BU accommodation prices for 2024/25 entry in our accommodation price guide (pdf 46kb).
Bills (gas, electric, water, sewerage and internet)	£0 (university accommodation) £64 (non-university accommodation)	£0 (university accommodation) £768 (non-university accommodation)	All of these bills are included in the cost of your rent if you are living in halls of residence/Unilet accommodation. Otherwise, expect to pay around £64 per month.
Local bus travel	£0 (university accommodation) £25 (non-university accommodation)	£0 (university accommodation) £295 (non-university accommodation)	An annual bus pass is included in your rent if you are living in halls of residence/Unilet accommodation. Otherwise, it costs £295 for unlimited travel on specified BU and morebus routes for 90 days.
Groceries	£133	£1,596	These figures are based on the Student Money Survey 2023. This figure will vary depending on the person and personal basic living costs.
Laundry costs	£13.60 to £23.60*	£163.20 to £283.20*	Launderette facilities in halls of residence are coin/card operated. Unilet houses are fitted with washing machines, so this is included in the rent. *Based on using the washing machine and drying machine once per week.
Insurance for personal possessions	Included in your rent with university accommodaton	Included in your rent with university accommodaton	Insurance is inclusive with the cost of rent if you live in BU university accommodation. If you live outside of BU university accommodation, the price of insurance will vary dependant on the provider you choose.
TV licence		£169.50	You can also pay for your TV licence in weekly, monthly or quarterly instalments. Check whether you need one at the TV Licensing website.
Course materials	£18 to £53	£210 to £630	For example, core textbooks, photocopying, stationery and other consumables.
Going out	£69		These figures are based on the Student Money Survey 2023 on the Save the Student website.
Takeaways and eating out	£66		These figures are based on the Student Money Survey 2023 on the Save the Student website.

These figures are based on a 12-month period and have been gathered from a range of sources.

You may find one of the following online calculators can help you work out your budget:

Start-up costs

Don’t forget that there are certain things you’ll need to buy when you start university, as these won’t be provided by your accommodation. They include:

Bedding (sheets, pillows, duvets)
Towels and tea towels
Cups, bowls and plates
Cutlery
Cooking utensils and saucepans.

You may just want to bring the bare minimum of kitchen equipment, cutlery and crockery when you start university, as you and your housemates may decide to buy some of the essentials together and split the cost.

Budgeting tips

The basics

Going to university for the first time is an exciting experience, but it can also be a challenge when you have to balance your studies with managing your money and taking care of everyday tasks. If you’ve never had to worry about managing your money before, this can be one of the hardest things to get right. So, we’ve put together a guide to help you budget effectively while you’re at university.

Step one is work out what your budget actually is. You may want to calculate this on a monthly basis or, if you’re receiving a student loan each semester, it might make more sense to calculate it on a term-by-term basis.

Either way, you need to begin by working out your income. This can include money you receive in the form of loans, grants, scholarships or bursaries, any help you get from your family and any money you earn in a part-time job. Add all of this together to get your overall income.

Step two is calculating your expenditure. Write a list of everything you have to spend money on each month or semester. Include your rent, utility bills, phone bill, internet bill, TV licence, insurance for your personal possessions, travel costs and the amount you spend on food. If you’re not sure how much all of this will be, take a look at our living expenses guide above, or ask your family or friends who are already at university to help you work out your rough expenditure.

Step three is deduct your expenditure from your income, and you’ll know how much spare cash you’ll have each month or term. Use the Student Budget Calculator if you want a bit of help.

Plan ahead

There will be certain times of the year when you need to meet one-off expenses, such as buying books for your course, or even splashing out on Christmas presents! Part of budgeting is allowing for these expenses and planning ahead for them. By setting aside a bit of money each month, you’ll have what you need available when the time comes, rather than having to find a large lump sum in one go.

It’s also sensible to set aside a bit of additional money each month as an emergency fund. That way, if you do have something unexpected to pay for you’ll (hopefully) have at least some of the cash you need to cover it.

Account for hidden costs

When negotiating long term contracts like bills and gym memberships, make sure to factor into account hidden costs (such as signing up fees, router chargers etc), and consider these points on rent and hidden costs if you are moving into private accommodation at the start of next academic year. If you are in halls this will tend to be included, but do remember to check if your accommodation has insurance or if you are covered by your parents’ policy.

Similarly, do ask for help if you are unsure what exemptions you are eligible for (such as tax rebates), and make sure to ask about cashback opportunities if you are not fully using a service (for example, students paying for a tv licence can have a partial refund for the months you are back home).

Top tips for saving money

You can make your money go much further if you just do a bit of research and shop around. Here are some of our top tips for making your cash go a little bit further:

Take advantage of student discounts with a TOTUM card. This can give you discounts in shops and online, save you money at the cinema and even mean you get reduced price entry into various UK attractions.
Make the most of loyalty cards. Many retailers, particularly supermarkets, offer loyalty cards where you receive points for shopping with them, which you can then spend in-store
Get a 16-25 railcard. This will give you ⅓ off rail travel, which can save you a considerable amount if you regularly take the train
Apply for a National Express Young Persons Coachcard: £15 a year (plus £3 p&p) for a ⅓ off coach fares
Don’t buy course materials before you arrive. Many students will sell their used textbooks to new students - or you may find them on online auction sites. Our BU Students’ Union has a second-hand bookshop too
Take advantage of our UNIBUS service, which runs between campuses as well as elsewhere in Bournemouth. If you’re living in halls of residence or Unilet shared housing in your first year, it will be included in the cost of your rent
Students aged 16-18 don't have to pay for prescriptions, and once you hit 19 you can apply to the NHS Low Income Scheme. If your application is accepted, you can get free prescriptions. The same process applies to dental treatment and sight tests
Avoid impulse buys in the supermarket by making a shopping list – and sticking to it. Cook in bulk and freeze. This way nothing gets wasted, it works out a lot cheaper and you always have a back-up plan when the cupboards are bare! Make packed lunches for cheaper meals on the go. Do grocery shopping in the evening when food is often discounted
Shop around for the cheapest energy tariffs, phone contracts and accommodation. The MoneySavingExpert has some great tips to help you get the best deals on your household bills
Being sociable doesn't have to be expensive – think nights in with housemates, free events at BU's Students' Union or two-for-one cinema nights
Set yourself mini-budgets. This might sound like overkill, but if you set yourself a monthly allowance for food, going out, clothes shopping etc, you’re less likely to overspend and will find it easier to keep on top of your money.

Useful apps to track spending

Yolt: uses open banking to show you an overview of your finances. You can set and track budgets for 21 categories, including things like travel, groceries and housing
Money Dashboard: displays your spending in colourful charts and graphs, so you can see where your money’s gone at a glance
Cleo: this AI guide can answer questions about your finances. The app works through Facebook Messenger and lets you pay friends, set spending goals and alerts
Monzo: you can use the app to track different types of expenses, keep an eye on daily spending, put money aside and anticipate upcoming costs

MoneySavingExpert also has lots of finance tips and tools, as well as information about the latest student deals and discounts.

Student vlogger Emily shares some tips to help you stay in control of your finances

Financial support available at BU

If you experience financial difficulties once you’re at university, the AskBU and SUBU Advice teams can help you find solutions to your problems. There are various types of financial support funding available from BU for UK students who are struggling financially; including the BU Financial Support Fund, Small Emergency Grant, Emergency Loan, and the Placement and Professional Opportunities Fund. You can find out more about what’s available on the Financial Support page, including external and postgraduate funding guidance.

You can also check out our financial wellbeing pages for more advice and guidance on managing your finances, so that you can get the best out of your money and find ways to make it go further.