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#QMULMoneyTips for final-year home students

Are you a final-year undergraduate home student, about to complete your course? As you are coming towards the end of your studies, it is helpful to try and organise your finances, thinking about the next few months ahead.

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Save the Student has useful guidance about choosing a graduate bank account, including their review of the best graduate accounts this year.

The Advice and Counselling Service has some useful budgeting guidance which you could use to help you plan for the next few months. If you are working, budgeting will be a little more straightforward than when you were studying because where your maintenance loan income was paid termly, wages are usually paid monthly, which is how most bills are charged.

If you are not working and you are concerned about finding a job, once your course has officially ended you can usually claim Universal Credit (UC) online from 1 June 2020. This is to help with your living costs. You can claim whether or not you are liable for rent, but if you are paying rent then you can usually claim a higher amount of UC. Universal Credit is paid monthly in arrears and can take at least five weeks to process. You will need to satisfy any work related requirements that apply to you but these are taking into account the current job situation. There is more information including how to apply on the gov.uk website. The Turn2Us website also has a welfare benefits calculator.

You are not liable to start repaying student loans until at least April 2021, and then only if you are earning a minimum amount of money. There is more information on the gov.uk website.