When you come to us as a new student at Liverpool Hope you may have never had any experience of money management. Remember you have a limited income and may have to live on your student finance income for the full year if you can’t find work or don't have savings or other money from benefits to rely on.
Single students who get the maximum amount of finance will qualify for £3,497 Maintenance Loan and £2,906 Maintenance Grant and a £500 Hope Bursary-a total income of £6,903 which is £132.75 weekly.
You may go home to your parents between June and September and would not need as much to live on during this period. A good guide is to leave £800-£1000 aside for the summer. This leaves £5,903 for term-time living costs (36 weeks) which is £164 per week approx.
How much you need is a personal matter depending on your individual circumstances. If your parents live far away it will cost you more to travel home.
Go to Student Funds for more budgeting advice or look in Liverpool Hope’s funding guide for undergraduates, ‘Funding at Hope’.