Money Doctors

The Money Doctor will see you now...

Who are the money doctors?

The Consumer Financial Education Body (CFEB) has developed a HE Financial Capability programme as part of the National Strategy for Financial Capability.

The CFEB has developed the Money Doctors project to help empower students to take control of their finances before they get into difficulty, and provide information and support if things don't go to plan.

There are 90 universities who take part in the Money Doctors scheme, which is 55% of UK Universities.

The Student Funding Office take part in this programme, providing impartial and confidential advice on financial matters tailored to individual student’s needs and money management guidance.

Cash, Beer Tokens, Dosh, Wonga, Bread, Spondoolies …….

Whatever you call it, you’ve got to make it last. The Money Doctors are trained professionals who can help you keep your finances super healthy.

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2011/12 Money Doctors Events

National Student Money Week - 12th to 16th March 2012

Find out more about our exciting series of event for National Student Money Week.

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What advice we can provide

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The Money Doctors Budgeting tool

Have you just received your first instalment of your student loan / grant?

Are you worried how to make it last until you receive your next instalment?

If so, The Money Doctors Budgeting Tool is for you! – It’s free to download!

Students who are in receipt of payments from the Student Loans Company are expected to make their financial support last until the start of the following term. This can appear to be a daunting task as the time between each student loan payment can be up to 15 weeks (and sometimes more depending on your programme of study).

This easy to use spreadsheet has been designed specifically to enable you keep a close eye on your budgeting.

By following four easy steps you will be able to accurately track your spending until your next student loan instalment is due.

The Budgeting Tool will advise you of your weekly available funds and will forewarn you if you are getting close to spending beyond your funds.

By spending within your weekly available funds you should still have money in the bank by the time your next loan / grant instalment arrives.

The Budgeting Tool

Your computer will require Microsoft Excel to run the Money Doctors Budgeting Tool.

When you download the budgeting tool you should be prompted to open or to save the file. Please choose the 'save file' option.

Download the Budgeting Tool (Excel file)

The User Guide

When you download the user guide it will open as PDF file in a new window. You can then save it to your computer.

Download the User Guide (PDF file)

Note: In order to view a PDF you will need Adobe Acrobat Reader Get Acrobat Reader

Feedback

Feedback on the budgeting tool is very welcome; if you would like to comment please complete the feedback form; or if you have queries, then please email Andy Stafford (andy.stafford@bristol.ac.uk) or call him on 0117 331 7842.

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Top money saving tips from National Student Money Week 2011

Finances

• Never withdraw cash from a cash machine that charges

• Always open your post, don’t let bank statements and bills pile up and go unchecked

• Check your credit rating at www.equifax.co.uk or www.experian.co.uk

• Get online banking – this will help you check your spending regularly

• Set yourself a budget and stick to it, see

http://www.bris.ac.uk/studentfunding/moneydoc.html#MDtool

• If you miss a regular direct debit payment, this can affect your credit rating – if you do miss a payment, contact your bank or the relevant company immediately 

• A good credit rating will stand you in good stead after you finish your studies.  A poor credit rating will affect your chances of future credit.  Ask SFO for further information

• Plan ahead for events such as xmas and house deposits

 

Media

Ensure you get the most competitive and appropriate deal for your broadband, TV and phone deals. Check out comparison site Cable to compare the best deals for your media needs, including those packages specially tailored for students that fit the academic year and other more appropriate short term packages.

 

Household

• Customise clothes and accessories and mend your clothes, rather than buying a new outfit see www.startsewing.co.uk

• Check sites such as www.cleaningexpert.co.uk/NaturalCleaningProducts.html for natural and environmentally friendly products

• Make sure your washing machine is full every load so you save on energy bills or the cost of a wash at the launderette

• Don’t obstruct radiators with curtains or furniture

• Use soap instead of shower gel

• Always turn off lights when you leave a room

• A standard shower uses 40% of the water required for a bath

• Don’t leave laptops and mobiles on charge, switch the charger off, it still uses energy

• Investigate energy saving lightbulbs, they’re often free from suppliers

 

Shopping

• Take your NUS card wherever you go and ask if there’s a discount

• Use loyalty cards for those invisible savings and gifts

• Buy own brands wherever possible

• Buy second hand books or go to the library rather than buying new

• Supermarket shop after 7pm and on Sunday afternoons to get bargains

• Buy in bulk with others to save costs

• Drop one brand level in the supermarket and see if you notice the difference

• Shop at charity shops – you never know what you might find!

 

Food

• Make your own lunch at home rather than eating out

• Get into home baking and cooking – challenge yourself to make something new each week

• Never go shopping when you’re hungry

• Make a shopping list and stick to it

• Drop one brand level in the supermarket and see if you notice the difference

• Check online for the latest supermarket offers

• Collect free recipe cards from supermarkets

• Don’t get tempted by supermarket offers – ask yourself ‘do I need it’?

• Take a flask of tea or coffee out with you for the day

• Chop ingredients up smaller to make cooking time quicker

• Plan weekly meals to prevent food wastage

• If you live near University, nip home for lunch

• Boil water for pasta, rice etc in a kettle, then put it in the saucepan already boiling. Use lids to keep heat in

• Only boil as much water as you need in a kettle

 

Lifestyle

• Challenge yourself to spend-free days

• Get your hair cut by a trainee or at the local college

• Check www.moneysavingexpert.com for weekly discount vouchers

• No one can afford to party every night – when you do go out, set yourself a budget and stick to it

• Organise ‘come dine with me’ food nights with friends for fun and money saving!

• Arrange a clothes swap between friends or look out for other clothes swap events in Bristol

• Sign up to www.ecojam.org Bristol freecycle, and the freebie section on gumtree for free bargains

• Enter competitions

• Check out freebies www.freebieholics.co.uk

• Make your own presents – jam, biscuits, fruit vodka, knitted items

 

Travel

• Use the free University buses available

• Walk and cycle, it saves money and keeps you fit

• Always book train tickets in advance to save money – 12 weeks before you wish to travel is the best time to check for cheap trains

• Check www.firstcityline.co.uk for student bus ticket deals in Bristol

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Where are the Money Doctors?

Visit us at the Student Funding Office, Ground Floor, Senate House.

Open Monday – Friday, 9am - 5pm

Tel: 0117 3317972

Email: student-funding@bris.ac.uk

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Useful web sites

The links below take you to web sites which may provide you with additional useful information. The Student Funding Office is not responsible for the content provided by external web sites.

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Calling all parents...help your son or daughter with their finances

Research by the Consumer Financial Education Body (CFEB) shows new students are unaware of some very important money facts and may end up paying unnecessary or unexpected costs.

The CFEB's impartial resources and tools will help you to equip your son or daughter to cope with money matters at university. Taking a few minutes now, will help them to keep track of their money and avoid difficulties further down the line.

And, in today’s climate, this is more important than ever. Click on the link below to take you to the CFEB's Flying Start page.

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