How to manage your money
Pick up some helpful hints on how to keep track of your finances at university
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.
Planning a budget
Your exact costs will depend on your personal situation and lifestyle, but in most cases, you'll need to budget for £1,023 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 be aware that if you are living in private accommodation you may be required to pay an advance of one month for your housing when you arrive in Portsmouth.
Keeping your money safe
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 through your Applicant View. Please check who is providing your halls of residence before sending the payment
- 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
Opening 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.
If you need advice or guidance about managing your money, you can also contact our Student Finance team.