Planning your finances

parent helping student

It's a good idea to plan your finances before you start your course. By budgeting what you're likely to spend, you'll be able to successfully manage your money while you're living and studying in Portsmouth. Planning ahead might even make your money go that little bit further.

Your exact costs will depend on your personal situation and lifestyle, but in most cases, you'll need to budget for £1015 per month to cover your living costs, not including your tuition fees.

This should be enough to cover payment for your accommodation, food, clothing, course materials and items, travel and leisure activities.

Please don't bring large amounts of cash with you – instead, you should:‌

  • Make sure that your tuition fees and halls of residence fees are paid in advance by webpay or bank transfer whenever possible
  • Bring a Bank Draft made payable to yourself for your living expenses (but be aware that bank drafts can take 7 working days to clear)
  • Bring £350 cash for the Orientation week and first week of term
  • Bring £350 in traveller's cheques to cover you until you can set up a bank account

When you arrive in the UK, you should also open a bank account. Get some advice from your bank in your home country before leaving for the UK, because they might have a special arrangement with a UK bank. You should also find out if you can use a cash card or ATM card from your home country, while in the UK.

For advice on opening a bank account, including a list of banks, talk to our Global Office when you arrive. If you need advice or guidance about managing your money, you can also contact our Student Finance team.