SRUC Financial Support | Cost of living

Planning a budget

We know out students will have a limited income during their stay with us. Preparing a budget is helpful - it tells you how much money you must spend and how much extra you can expect to have after you've paid for the essentials.

If you have trouble balancing your budget, you'll need to work out how to increase your income or decrease your spending.

Some tips when planning your budget:

Be true to yourself about your money habits and try to allow an extra 10% for overspend.
Don't forget to include one-off expenses like birthdays or other holidays.
Remember to include some spending that allows you to socialise or entertain.
Pay with your phone or card using a banking app to track what you're spending. Another good app to track your spending is Plum.
You may find it easier to withdraw cash and use that to budget but be careful that some places may only take card payments.

Some budget planning help sites:

Common expenses

To help you budget, here are some common expenses you may want to account for while studying at SRUC:

At SRUC we offer flexible accommodation at certain campuses to minimise your costs. These costs will change slightly every year so check our SRUC campus accommodation pages for more information including where campus accommodation is available and its costs. You will also be able to find accommodation applications and instructions there.

If you plan to rent accommodation through a private landlord or letting agency, here are some average costs that can help you plan your budget:

Private rental of a 1-bedroom flat

In Edinburgh = £700 - £1,200 per month
In Glasgow = £500 - £800 per month
In Aberdeen = £400 - £600 per month
In Dumfries = £350 - £550 per month
In Fife = £400 - £800 per month
In West Lothian = £600 - £750 per month

Renting a room in a shared accommodation

In Edinburgh = £400 - £600 per month
In Glasgow = £350 - £500 per month
In Aberdeen = £350 - £450 per month
In Dumfries = £500 - £700 per month
In Fife = £350 - £600 per month
In West Lothian = £450 - £550 per month

Depending on your preferences and habits, you should expect to pay between £150 and £250 per month on food.

To minimise this cost, try to cook food at home and avoid takeaways, shop at discount supermarkets, and never go shopping hungry!

There are also loads of recipe apps available to help you cook with what you have in your cupboard already and lots of cheap recipe web resources. Prudent Penny Pincher and BBC Good Food Budget Recipes are two good ones.

If you like eating out or trying new foods, you can also check out the Too Good To Go for cheap food options in your neighbourhood.

Utility expenses (like water, WiFi, and heating) are including in SRUC campus accommodation costs.

If you're renting from a private landlord or letting agent, it's a good idea to budget for £100 to £150 per month to cover these costs.

A city-wide bus travel pass is typically between £40 and £60 per month. Keep in mind though that Scotland offers free bus travel in Scotland to anyone under 22 years old. To take advantage of this, you'll need to request a Young Scot Card.

The average cost of a using your mobile phone in the UK is £15 - £40 per month. This does not include the cost of the phone. It's usually cheaper to use a SIM-only plan versus a contract.

If you're coming to Scotland from outside the UK, make sure your phone is unlocked so that you can choose a prepaid SIM, eSIM, or contract from any network provider in the UK. The UK uses the GSM band which means that unless you're coming from Japan or North or South America, your current mobile phone will likely work in the UK.

Keep in mind that if you want to sign up for a mobile phone contract, you will need photo ID, proof of UK address, and a UK bank account.

In the UK, any household that watches or records TV programmes on any device must first buy a TV licence at a cost of £174.50 per year (or £14.54 per month).

Although not required, you may want to consider purchasing contents insurance.

Contents insurance covers the cost of replacing or repairing your possessions if they're damaged, destroyed, or stolen while they're in your home.

While costs depend on what possessions are being insured and for how long, students in Scotland can expect to pay £5 to £10 per month for basic coverage.

Saving money as a student

Staying in control of your finances is important. Here are top tips for how to save money as a student:

Create and stick to a budget
Look for and use student discounts
Prepare meals at home; avoid takeaways
Utilise your campus or local libraries for books
Take part in fun and inexpensive (or free) activities organised by the SRUC Student's Union (SRUCSA)
Shop at discount supermarkets and charity shops

Student discounts
Remember that many stores and shops across the UK offer student discounts so don't be afraid to ask about one and always remember to bring your student ID card with you when you go shopping! You can also apply for a TOTUM card and check out UNiDAYS for discounts.

Maximising your income

If you discover that you need to increase your income in order to meet your budget, one option may be to check our funding pages for student funding or grants that you may be entitled to.

Part-time work is a great way to subsidise your income. Our job listing pages for students offer a number of possibilities. You can also contact our Careers Services team to help you find, prepare, and apply for a number of jobs particularly suited to the skills and talents of SRUC students.

Please do get in touch if you have concerns over managing your money. If you would like to talk to someone, please visit SRUC Funding Support on Moodle for information and key contacts.

International student considerations

If you're coming from outside the UK to study with us, there are some additional things you should consider regarding your finances:

Arriving in the UK
Try not to bring too much cash with you when arriving in the UK. Instead, pay your tuition fees by bank transfer before arriving and carry a credit or debit card with you when you travel. If you bring more than £10,000 or the equivalent in other currencies into the UK, you must declare it at Customs when you arrive. Remember though to bring enough cash in British currency to cover food, travel, accommodation, and possible emergency costs for the first few days.

Opening a bank account
To open a bank account in the UK, you will likely need your passport, your visa, proof of UK address, and a letter from SRUC confirming your student status. We're not able to recommend specific banks to students but it's a good idea to use a bank with a branch near your campus or your address.

Scams and frauds
Some criminals specifically target international students by telephoning them or emailing them and pretending to be from UKVI or the Home Office. They demand money (calling it a "fine" for a non-existent immigration problem) and claim that if you don't pay them quickly your visa will be cancelled. Always remember that the Home Office will NEVER contact you to ask for money or your personal details.

Here's how to spot and report a scam

As an international student, be particularly careful of money laundering fraudsters that ask to put money in your bank account so that you can transfer it to another, keeping some of the cash for yourself. If you do this, you could a what is called a "money mule" and are committing a crime.

Learn more about common scams and frauds in the UK on the Police Scotland website.

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Cost of living

Planning a budget

Common expenses

Accommodation

Food

Utilities

Transportation

Mobile phone

TV licence

Contents insurance