As a visitor to the UK, you will be keen to start planning how you will spend your time here. One of the most important steps is to work out your living costs. Many things may be different to what you are used to at home. Our next sections look at various expenditure you will need to consider and are packed with advice and guidance.
Before we consider what you might spend your money on, let us take a moment to approach how you currently approach spending. This will help you to better plan and to know what bad habits you already have. Take the quiz below to find out more:
IMPORTANT POINTS TO NOTE
While that was just a bit of fun, it does have a serious side. Your approach to spending can really affect how much money you have overall.
While you are in the UK; you are responsible for your own financial well-being, as your parents and usual support networks are not as available. What would you do in a financial emergency?
Planning a budget will help, as it will allow you to put money aside for unforeseen events. Common examples are:
A fall in exchange rates affecting your sponsorship money
Your family or sponsor having a change in circumstances; affecting how much money they can send to you
Political issues in your home country affecting your bank account
Being prepared is the single best way to future-proof your trip here. There are also lots of support networks within the university to support you, should something unexpected happen.
It can be empowering and rewarding to be in charge of your own money. Watch this video of students discussing their independence and how great they find being responsible:
So now that you are excited and positive about being more responsible; let's look at some costs.