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Money

money

Money worries can be a real distraction when you’re trying to study, so it's a good idea to plan and manage your finances well.

Here you will find basic advice on budgeting and generally looking after your money.  Start by looking at our course fees.

In addition to your course fees, you will need at least £9,600 per year (£800 per month) to cover the cost of food, accommodation, transport and other basic expenses such as books and other equipment.

Most courses will have core recommended texts available to borrow from the University libraries, but you may want to buy your own textbooks.

Remember:

  • the cost of living rises by about three per cent each year in the UK, and of course, if you bring your family, you’ll need to bring additional funds
  • it is very important that you make sure you have enough money before you arrive in the UK, as there is little, if any, financial help available once you are here.

The International Student Calculator will help you plan and manage your money while you study in the UK and if at any stage, now or in the future, you need additional information and advice, our student services and international team are always on hand and ready to help.

UNIAID also provides an online guide to your finances, including a budget calculator.

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Useful Links

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Enjoy your new life – be practical and resourceful with your money

You will have a lot to think about once you are in the UK – it is a very exciting time.

But everyday life may be very different from your home country, so here is some practical financial advice you should keep in mind while you are a student at MMU.

  • Keep a chart of your income and living costs, so you don’t overspend.
  • Don’t carry large amounts of cash or have your money/cards on display.
  • Try to save up for the things you need. Some banks and shops will charge you a lot to borrow money.
  • Most restaurants, cinemas, bars and attractions in Manchester offer student discounts and you can get many travel discounts, too.
  • For security reasons, never keep your cheque book and bankers card in the same place.
  • Don’t give your bank account or personal code (PIN) number to anyone you don’t know, or even to friends.
  • Banks will NEVER email you to ask for your bank details or passwords. These emails are fraudulent, so don’t, under any circumstances, reply to them.
  • It is safer not to borrow or lend money, even to or from friends.
  • Don’t buy your books too soon. Wait until you arrive in the UK.

If you find yourself in any financial difficulty, speak to the Immigration and Welfare Team for confidential advice.

Scholarships

There are scholarships available that can help you reduce your living, travel and/or study expenses.

Remember that scholarships are awarded a year in advance, so start your research at least 18-months before you plan to start your course.

Insurance

Insure your personal property against loss or theft as soon as you get here. The cost will be £35–100 for £2,000 of cover, depending on where you live.

Watch out for cover exclusions, particularly if you're sharing a flat or house. If in doubt, ask the International Office for advice.

UK currency

  • The currency used in the UK is the pound (£1), often referred to as GBP
  • This is divided into 100 pence, which are often referred to as ‘p – pronounced ‘pea’)
  • Coins in use are 1p, 2p, 5p, 10p, 20p, 50p and 100p (£1)
  • Notes in circulation are £5, £10, £20 and £50.

To give you an idea of how much your home country currency is worth in GBP, try this quick currency converter

You will find other helpful advice and information about money matters elsewhere on this site: