Cambridge Money Diaries: Week 1
In our first edition of Cambridge Money Diaries, this week’s writer takes us through their weekly expenditure
Welcome to Cambridge Money Diaries. In this column we ask an anonymous student to take us through a week of their expenditure; charting the trials and tribulations of saving and spending all against the backdrop of weekly essays and Wednesday Cindies. This week's writer is a first-year who talks about managing their taxi habit, and their desire to improve their financial efficiency. They're on a maintenance scholarship and a full bursary from the university.
General weekly budget aim: £100 a week
Relationship with money: disorganised /loosely monitor spending
Monthly outgoings:
- FT subscription: £15
- Spotify: £4.99
- Mobile contract: £40
- Amazon Student Prime: £4.99
Thursday 23rd Jan – £381.70
Week 4 begins for me like any typical Cambridge student. I roll out of Cindies at 2am, after I pay £7 for entry. I went with friends from a different college, so I head back to my centre Cambridge college on my own. For me, this means I take a taxi. This comes to £7. I am a bit of an uber/ taxi addict. This would probably be more acceptable if we were not in Cambridge and everything was not under 20 minutes walk away. I must confess that this is actually my third Uber of the night; but technically that was yesterday, so I choose not to include it. I wake up on Thursday around 10am, not too hungover. I am satisfied with that, but not to motivated enough to attend my one lecture, especially as its recorded. I check my emails and the first one I receive is my outstanding balance on my college account, with my rent due. My rent for the term, plus any formals I attended last term, comes to a very small £360 because of the college scholarship I receive. I have a late breakfast, £2.00 pastry from the college canteen and a £1.70 coffee. I head to the SPS library as I am working on an essay today. Later, lunch at the Whale café comes to about £4.00 for a panini and a coffee. In the evening, along with a friend, I head to a law event for free drinks and canapes. This is our dinner for the night.
Friday 24th Jan – £99.90
I attend the college Burns night formal tonight. This costs £22.90. It is also the day of the release of my college’s May Ball tickets. This comes to a total of £75, which is a reduced bursary ticket. Once the formal is over, we go downstairs to the bar, where we have a Ceilidh dance night. I buy myself a vodka and Coke, which come to £2.
Saturday 25th Jan– £5.70
I wake up hungover from the night before and attend a mandatory brunch at my college. This comes to £3.50, while I catch up on college gossip from Friday night. I attempt to study for the rest of the day and eventually decide to make myself dinner using ingredients I bought for my grocery shop this week - I make chicken with couscous. This saves me some money. I buy myself a drink from the vending machine that costs £1, and also a coffee while I study later, for £1.20.
Sunday 26th Jan - £30.21
I tend to treat myself with a takeaway every now and then. However, I spent way too much last term on Deliveroo and Just Eats, so I have limited myself to 6 takeaways this term. I decide that I am celebrating handing my essay in with Pizza Hut. This comes to £21.20. I also browse Amazon and decide to buy a kit of essential oils for my diffuser I received over Christmas as a present. This comes to £9.
Monday the 27th Jan- £39.75
My food account in college is out of money so I top up by £30 which I hope lasts at least seven more days. I skip breakfast but have an early lunch in the Alison Richardson building which comes to £3.50. I also have a supervision at noon. As I wait for my supervision to start, I grab a coffee for £1.25 in the Iris cafe. I also sign up for Rag Blind Date for £5.00.
Tuesday 28th Jan - £10.00
A quiet day. I spend the whole day in the library and spend around £10 on lunch and breakfast outside of college.
Wednesday 29th Jan – £4.00
I have a practice interview in the morning again and then have lunch at the ARB. The veggie main dish costs £4. I spent the rest of the day in the law library, where I study, and hand in an essay at 7 PM. By 7pm, I am starving and I grab a packet of crisps from the vending machine before heading back to college. Once home, I have a tin of soup from my kitchen as I have missed dinner.
Total weekly spend:
General: £136.26
Rent: £360
May ball: £75
General thoughts: I am not too disappointed with this week’s spend, slightly higher than usual because of my takeaway and Amazon purchase, but overall not bad at all. I am very lucky as my scholarship allows me to be quite generous with what I spend on food, but I could definitely save more by just making my own coffee and packed lunches. It is difficult to measure because I do not know what other people spend each week, but I was definitely worse last term as I was ordering things for my new room, multiple takeaways and new clothes. I have definitely cut back this term although it does not seem like it. I hope to become economically efficient each term, a mindset that will hopefully carry me as I move into my post-university life.
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