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Student finance survival guide

Calculating your income

In order to start organising your finances, you will need to estimate how much money you will have to spend. In order to do this, you will need to read the previous page of this guide and either use the student loan calculator to generate an estimate of you income for the year, or apply for a student loan to find out how much financial assistance you are entitled too.

parents

Some students' parents help their offspring through university financially, other don't, or can't. Whatever your circumstances; you need to figure out whether your student loan and parental help will provide you with enough money to make it through the financial year - to do this you will need to work out the total amount of money you will receive or earn this year, (your income) and the total amount of money that you will spend (your expenditure) and see what the difference is.

calculating your income

Recommended Further Reading

Print off and fill in the download pdf calculating your income document. You can fill this in by week, month or year which ever is easier to calculate, but make sure that you have a 'total' for the year. (To do this simply multiply weekly incomes by 52 and monthly incomes by 12)

Under normal circumstances, I wouldn't count loans and overdrafts as 'income', however for most traditional students, these are an essential source of financial support and as you will probably not have to pay these off until you have finished university they can be considered as income and not expenditure.

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