Budgeting for Students: Cost of Living in Lincoln

Starting university can be very liberating. For the first time in your life, you're in charge. You decide what to do with each day, when to wake up, what to eat, what to do with your spare time, and perhaps most importantly, how to handle your finances. 

Having to contend with numerous costs and expenses can be daunting, especially while trying to tuck away a little something for holidays or bigger purchases. But it doesn't have to be painful; with some careful spending and a bit of budgeting, you can keep yourself financially secure at Uni without sacrificing fun or creature comforts.

Accommodation in Lincoln

All-inclusive bills and expenses

All-inclusive accommodation might seem pricey, but with general expenses like power, WiFi, and food covered, it can end up saving you a lot of money and hassle.

Lincoln

While a single bus fare into Uni may not seem like a lot, transport costs can stack up over time. Finding accommodation within walking distance of campus can be a big saver.

Budgeting Tip: With all the excitement of moving into a new space, buying decorations and other room upgrades is tempting. Try to resist this temptation and be intentional about what you purchase. With many of our rooms already fully kitted-out, there’s really no need to splash out on anything. Ask yourself - do I need it right now, and if so, is it worth it?

Feeding the foodie in you

Groceries

Depending on what you like to eat, a weekly shop might set you back anywhere from £25-£60. Find the cheapest supermarket near you and use loyalty schemes where possible – these offer small, incremental savings that add up in the long run.

Eating out

There are some great restaurants around for students in Lincoln. But eating out all the time just isn't sustainable if you're trying to save. Budget £10-20 for meals out during the week.

Budgeting Tip: Learn a few easy recipes and invest in air-tight containers. Cooking at home is a lot cheaper than eating out. 

Socialising

Nights Out

The odd social night out can be a fun way to meet new people, but at £5-10 per drink, it can quickly put a dent in your pocket. 

Be sure to eat at home before you leave and switch to free tap water early in the night. Also, avoid buying rounds with larger groups – this is an easy way to get locked into buying (and drinking) more than you want to.

Societies & Sports Clubs

Societies and clubs are an incredible way to meet new faces and find new hobbies, but don't go overboard – your studies should always come first, and membership fees can be up to £40 per year. 

Budgeting Tip: Always be on the lookout for student discounts. You'd be surprised how many businesses and clubs around Lincoln offer them.

Getting Around Lincoln

Bus Pass

Riding the bus is a cheap and easy way to get around Lincoln. Check with your Uni to see if they offer grants or discounts for public transportation.

Bike

If you're up for it, cycling is a great, active way to get around Lincoln while saving money. Just a single, one-time purchase, and you're set for free local travel.

Budgeting Tip: It costs nothing to walk, and with so much to see and do in Lincoln, it's a great way to explore the city. 

Decoding the Textbook Dilemma

New Books

New textbooks don't come cheap – you could be looking to pay upwards of £50 for a single copy. We suggest picking up a used copy or finding a more affordable version online.

Second-Hand Books

Every year, hundreds of students in Lincoln end up with textbooks they no longer need. Take advantage of this and hit up social media and community message boards for a bargain.

eBooks

You can find textbooks online for a fraction of the price of a hard copy. This is your best option if you are okay with a bit of additional blue light. 

Budgeting Tip: Finished your course? Dust off the textbooks and sell them to pay for the next round of course materials. 

Other Key Expenses

• Printing & Photocopying - These add up over time.
• Laundry -  If you're not taking it home, budget for £4-£6 per wash/dry.
• Gym Membership - If you're into fitness, memberships start at about £15/month.

And there you go, future Lincoln graduates. With a sprinkle of planning and a dash of financial wisdom, you'll navigate student life like a pro without missing out on any fun. Enjoy your financial freedom.