First, you need to decide on the period of time that you are budgeting for. It might be easier to manage a monthly budget to start with, but if you only receive income once a semester, then this time frame may be more applicable to you.

Calculate how much money you receive in this time period. This may include, but is not limited to:

• Student Finance
• Income from family members
• Paid work
• Sponsorship, bursaries or additional funding

Next, you need to estimate how much money you tend to spend on essentials. ‘Essentials’ might include:

• Rent or mortgage
• Household bills - water, gas, electricity - and what about wifi or your TV Licence
• Living costs - food, mobile phone contract
• Studying - do you need any equipment or resources to help you?
• Travel - commuting costs to University or a part-time job? travelling home?
• Leisure - gym membership? date night?

Calculate your net income – this is the amount you have left over when your bills are paid. To do this, deduct your essential outgoings from your income and find out how much disposable income you may have left over. This money is not earmarked for your essential outgoings, and can be put towards extracurricular activities, savings, or perhaps those trainers you have your eye on.

If you find that you are spending more than you have coming in, you may need to work out where you can cut back. If you are unable to cut back the University may be able to offer you some financial support. You can find out more about this here.

• Check out the University’s guidance to help you plan your budget.
• If you’re struggling, Citizen’s Advice has a budgeting tool to help you work out your costs which might be worth a look!
• Use the Money Wellness budgeting tool and guidance here. They also offer free debt advice if you find yourself in financial difficulties.
• You can complete a benefits check through Citizen’s Advice to see if your are eligible for any financial support.

The University’s Advice and Money team have lots of useful resources to help you manage your money.

• Maximising your money
• Planning your spending
• Cutting costs

Late payment of bills could incur additional charges.

Failure to pay bills altogether could resort in legal action against you, bankruptcy, or having your heating and electricity cut off if you haven’t paid your energy bills.

If you receive a late payment letter, do not ignore it. This could affect your credit score and incur additional charges which could escalate your problem. If you have received a late payment letter and you are unsure on what to do, please contact Student Advice.

It is always good to ensure that your contact details are up to date on your bank accounts. Your bank accounts may send you updates about their policies, interest rates and your accounts via the post. It is good to be aware of these changes, and the effect they may have on you.

If you are aware of changes, but are unsure about how they will impact you, it may be possible for you to drop into your local bank branch, or to book an appointment to discuss any changes or concerns in person.

Remember, it can sometimes take a few days for a payment to clear from your account so you need to make sure you have sufficient funds until the money has been taken from your account. This can include larger payments like your Student Loan if you are self-funded, or rental payments.

After working out your budget, you know how much money you have left over for non-essential purchases. It’s good to have an upper-limit on the money that you are willing and able to spend with this net income, to prevent you from overspending or struggling later in the term.

If you’re surrounded by things that you no longer want or need, you could try to sell them. There are plenty of internet platforms that you can use to sell your items. If you’re in need of cash, this might be an easy activity to make some extra money.

The University has a Money Support Fund which offers financial assistance to students. Please see the top of this webpage for further information.

If you are self-financing or sponsored (not Student Loan) and will not be able to make payment by this final deadline you should complete the request an adjustment to tuition fee payment form before contacting the Tuition fee team. The form must be completed before any request for an adjustment will be considered. If you are unable to pay your fees you should contact the Tuition Fee team immediately.

More information can be found here.

If you are eligible to receive UK student funding and this is not being paid or you have not yet applied the Student Advice and Money Team can help you.

If you are facing issues with your Student Loan, you should contact your Student Loans Company as soon as possible.

You can also seek guidance from the University’s Student Advice and Money Team . You can contact the team through your Student Connect Portal, or via email at studentconnect@cardiff.ac.uk.

More information can be found here.

The University has a Money Support Fund which offers financial assistance to students. Please see the top of this webpage for further information.

If you are liable for the rent for more than one tenancy, please contact Student Advice as we may be able to advise you on your options.