Here at Let Pads, we are Preston’s leading student accommodation providers. And we understand that one of the most challenging aspects of student life and independent living can be budgeting. This is something you may not have had to do before, and with student loans granted in chunks throughout the year, some students can struggle with making this stretch. As a result, we have produced these simple tips for effective budgeting.

What are the considerations for effective budgeting for students?

There are a number of important considerations that students need to take into account when establishing a budget. These include:

  • Student accommodation- probably the most expensive outgoing cost you will have is the cost of accommodation. This is often paid monthly, or in four installments throughout the year, after each student loan payment. As a result, you will need to choose an accommodation type that you can afford, and often choosing a property that has bills included in the cost, can be more beneficial, as this prevents any hidden costs from eating into your budget. Here at Let Pads, all of our properties have bills and WiFi included.
  • Food- the next most important consideration is your food budget. While it’s easy to simply eat takeaways multiple times a week, or even every day, this is not a healthy lifestyle choice. And it’s also not healthy for your bank account either. You’ll find that it is much cheaper to buy your own ingredients and cook from scratch. You never know, this could be a skill you never knew you had!
  • Transport- finally, you will need to make sure you can afford to get to lectures, and any work experience placements you might have. Whether you can drive, or you need to use public transport, you will need to include this as part of your budget. Here at Let Pads, all of our student accommodation properties are close to the city centre, and close to the university buildings, so you can save money on transport.

Once you have worked out how much money you need a month, you can also set a budget for fun recreational activities and partying, without worrying about running out of money.

For affordable, stylish and well located student accommodation in Preston, get in touch with the team today, here at Let Pads.