Budgeting
Managing Your Budget
The costs of student life vary depending on the individual's circumstances. It is vital to live within your means, whatever your situation. Getting into debt can lead to many problems and stresses. While money is often tight, we strongly advise students to try and get the balance right and avoid neglecting their studies for part-time work. If balancing your weekly finances is a problem, call into Student Services for some advice and support.
The following examples show typical expenses for a student living away from home.
Home Stay
Cost of Living (approx. per month/Academic Year) | |
---|---|
Total per month | €665 |
Total for 8 months | €5,320 |
5 day partial board (bed and breakfast, evening meal) | €360 |
Food in University | €140 |
Books/Stationery | €50 |
Entertainment/spending | €65 |
Travel | €50 |
Students Self Catering
Cost of Living (approx. per month/Academic Year) | |
---|---|
Total per month | €740 |
Total for 8 months | €5,920 |
Rent (shared house/flat) | €280 |
Fuel/electricity/food | €300 |
Books/Stationery | €50 |
Entertainment/spending | €65 |
Travel | €45 |
If you are paying or have paid TAX in the current tax year then you can claim relief against actual rent paid (you will need a receipt for this). Careful budgeting is absolutely necessary particularly during the first weeks of term prior to grant payments.
Part-time work while at College
Whilst money is tight for many students, we advise students to be very careful about making too big a commitment to part-time work. Every year some students fail to get this balance right and then struggle to keep up with their studies. Late night work can make studying particularly difficult. It is difficult to recommend a maximum level of part-time work, as the demands of courses can vary as do the abilities of individuals. If you have doubts, talk to someone in a higher year on your course or come and have a chat with a member of the Student Services team.
Useful Links
- Making a budget
- Choosing student accounts
- What to know about loans and overdrafts
- How to manage bills and some tips to reduce everyday costs