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How much money will I need?

Getting used to a new currency and the cost of living in a new country can seem complicated at first, but it is important that you work out your income and a budget for your expenditure before you come to the UK.

If you are coming to the UK on a Tier 4 student visa, as part of your visa application you will need to demonstrate that you have sufficient funds to pay both your course fees and your living costs (Home Office call this Maintenance Requirements).  

Monthly budget

Both the British Council and the National Union of Students (NUS) estimate the cost of living in the UK at around £12,000 per year - although the exact amount will of course vary depending on your own lifestyle. This estimate does not include travel to and from your home country, or your fees.

We suggest using the Which? Student Budget Calculator to get an idea of how much you might spend each month at DMU. As not all students have the same lifestyles, these are approximate guidelines only - and you can adjust the different categories in the Budget Calculator if you think you are likely to spend less (or more) on the different types of expenditure (transport, food shopping and so on).  

How much money should I bring when I first arrive?

You will usually need to have registered on your course before you can open a bank account and it might take a few weeks before this is ready. So it's important to bring enough money with you for the your first few weeks in the UK.

The amount of money you will need to bring may depend on whether or not you have already paid for your accommodation. If you've already paid for your accommodation, we recommend having access to at least £1000, to cover food and other initial expenses. If you have not yet paid for your accommodation, then you may need to have access to more money when you arrive. 

Important: We don't recommend bringing large amounts of cash with you. Instead, we recommend that you bring money in a secure form, such as a pre-paid credit card. Alternatively, try to open an account with a multi-national bank in your home country before you leave the UK, and check with the bank that you will be able to use ATMs (cashpoints) in the UK. It's also a good idea to check how much money you will be charged each time you use the card. We provided more information about this in our section about bank accounts.

Help and advice about money

Once at DMU, you may find that you have to organise your money carefully and you might want further guidance on financial issues. Student Finance and Welfare can advise students on money management, budgeting and on fee payment issues.