We know that a lot of you want to stay at CODE in 2020/21 – but saving for the first rent instalment can be difficult. It’s due in July (24th to be exact) and this can often be before your student loan hits.
But did you know, if you start saving in the middle of the New Year you could have £2,000 by the 24th July 2020!
That’s right, if you put away money each week, you’ll have enough to cover your first rent payment plus a little money left over to buy those uni essentials*! This could even add up to a few hundred pounds if you are in a more affordable rooms.
We suggest you pick the same day each week as saving day. The latest you can start following our savings plan is Friday 17th January and you will need to put away the amount shown each week.
Some weeks are a bit higher than others, so bear that in mind – and you can swap weeks if you have other big bills coming up that week.
Can I adjust your savings plan?
If you don’t want to have extra money at the end you might be able afford to skip one or two months – but this depends on your room type and contract. If you want to do that, we suggest working out your own plan in excel.
This plan can also be useful to share with a parent, if you think you can’t save the amount needed and need help from a relative.
And remember, if you have any concerns about payments, you can always talk to the Office. We’ll be happy to help how we can.
Here’s how! Save £2,000 in 27 weeks
| Week 1 | How much to save | Running Total |
| 1. | £20 | £20 |
| 2. | £35 | £55 |
| 3. | £45 | £100 |
| 4. | £100 | £200 |
| 5. | £50 | £250 |
| 6. | £50 | £300 |
| 7. | £75 | £375 |
| 8. | £100 | £475 |
| 9. | £60 | £535 |
| 10. | £55 | £590 |
| 11. | £80 | £670 |
| 12. | £115 | £795 |
| 13. | £45 | £840 |
| 14. | £60 | £900 |
| 15. | £85 | £985 |
| 16. | £115 | £1,100 |
| 17. | £65 | £1,165 |
| 18. | £65 | £1,230 |
| 19. | £90 | £1,320 |
| 20. | £130 | £1,450 |
| 21. | £65 | £1,515 |
| 22. | £70 | £1,585 |
| 23. | £95 | £1,680 |
| 24. | £55 | £1,735 |
| 25. | £50 | £1,785 |
| 26. | £75 | £1,860 |
| 27. | £140 | £2,000 |
*Please note, these calculations are based on a 48 week contract. The amount left over will depend on your exact room type and if bills are or aren’t included.
