Money diary: a year 3 home PhD researcher
Explore how this third year PhD researcher living in the city centre applies their “measured and mindful approach” to working and spending.
Money diaries series for postgraduate researchers in science and engineering
We’ve asked three of our researchers to share their experiences with money, work and managing their finances since coming to the university. The goal of these diaries is to destigmatise the conversation around the costs associated with postgraduate research and to provide a space for current and prospective researchers to better understand the different ways in which we manage our relationship with money while researching.
Please note that this is an individual’s account of their personal experience and is intended to be used only as a reference, not as a guide.
I’m a third year PhD researcher in Chemical Engineering at The University of Manchester. I currently live in private accommodation near Deansgate, balancing a fast-paced academic life with little get aways from the crowded city centre. My week involves intense research sessions, supervising undergraduates, weekly group meetings, and occasional outings with friends that keep life interesting—plus a mix of exercise, reading, and a bit of YouTube for relaxation. My relationship with money is measured and mindful—I track every expense to avoid surprises, even if it means keeping some fun away from my social life.
What are your monthly expenses?
- Social: Dinner budget with friends (£80)
- Food: Food preparation and coffee (~£100)
- Home & Utilities: Rent (£700) & Water, gas, and electricity (£50)
- Travel: Home-to-town commuting (£15)
- Others: Gym and subscriptions (£35)
Do you budget your money? If not, what do you do instead?
I plan my week around my student grant and earnings from my student ambassador role. Experience with unexpected costs, like high house deposits and steep bills, taught me that maintaining a dedicated expense diary is a lifesaver. Each month I try to stick to the limits outlined above – with food, I aim to spend £70 on groceries and cooking at home, leaving me with £30 for coffee, snacks and takeaways. In terms of savings, I aim to save around £300 a month while £150 goes to investments. I always leave a little left over for emergencies or extra treats for myself.
Where does your money come from?
My money mostly comes from my student grant and student ambassador work! My student grant provides me with roughly £1,800 per month. I then work about 10 hours a month during the academic year as a student ambassador, campus tour guide etc. This earns me around an extra £130 a month – more during summer when I can work Open Days too.
What I spent last week:
I spent £140.90.
Tap a card to see what was spent each day!
Lovely weather meant I didn't have to take the tram or bus to university.
I headed off with a protein shake (£2.50) for lunch.
Another beautiful day, I lead a tour of the Nancy Rothwell Building (a welcome break from my research) and grabbed a free coffee at Café Nero, courtesy of my energy provider.
Today was extremely busy with a meeting with the chemistry council and a one-to-one session with an undergraduate student.
I was too tired to walk home, so I took the tram (£1.10).
I felt a bit lazy and tired from work yesterday and took the tram to work both in the morning and at night (£1.90). It was also my friend's birthday, so we went out to treat him to dinner and some socialising afterward (£30).
I started off with a morning coffee (£3.70) as I prepared myself for today’s seminar. Treated myself to a nice little lunch with my group members (£10.50).
In the afternoon, I went on a picnic with my friends. We grabbed a few snacks (£5.70), relaxed, and played card games in the park. Later, we enjoyed a Malaysian dinner together (£14.50) and had a small game night.
After church, I went for dim sum with my family (£35) and did some shopping on Sunday afternoon (£36)—my favourite vegetable, broccoli stem, was on discount! HOORAY!
How does your lifestyle fit in with your money management?
My lifestyle fits well with my money management because I plan carefully (or try to) and balance my spending between essential costs and small treats. I maintain a detailed expense diary, which allows me to track everything—from my daily commute and research commitments to social outings and spontaneous coffee breaks. This approach helps me calculate costs and avoid surprises, ensuring that I can enjoy university life without financial stress. By combining a busy academic schedule with a bit of leisure time and socialising, I’ve learned to budget for both work and play. This style has let me comfortably cover my expenses while still having room for enjoyable experiences.
Were there any costs that surprised you began your research?
Unforeseen expenses such as extra travel costs during bad weather or spontaneous social events that arise. I address these by adjusting my diary entries and reducing spending in other areas.
I was surprised by the steep cost of house deposits and bills. Moving to a new private accommodation, where I only pay for electricity, has been a game changer.
“I have a love-hate relationship with my finances. I love watching my bank balance grow and I remain cautious with every expense and try to track them.”
How do you feel about your relationship with money? Does it ever worry you? Does it affect your day-to-day life?
I have a love-hate relationship with my finances. I love watching my bank balance grow and I remain cautious with every expense and try to track them. It can be disheartening to see my income quickly swallowed by rent, but thankfully, my money diary helps me track my monthly costs and plan ahead.
Have you ever accessed University-provided support to help with your finances? Did you find it useful?
Yes, I have. When I first started university, I received emails about workshops organized by the University—these workshops happen every year and have been incredibly helpful. They offer insight into where you're likely to spend your time and give you a clear idea of where your money is going.
If you were to start your research for the first time again tomorrow, what piece of money advice would you give yourself?
My advice would be to keep a dedicated money diary, just as you do with your work. It gives you clear insights into how much money you have left and how much you can save each month—it's a real motivator when you see progress!
Another tip is to plan your meals for the week as much as possible. This way, you can better estimate your weekly spending and enjoy more flexibility for social events with your friends.
Finally, try to set aside a larger amount of savings at the start of university. The first week is filled with exciting events you won’t want to miss. Since these occasions often bring extra expenses, having a financial buffer can make all the difference.
Saving Tips
I also believe it is important to keep an eye on Individual Savings Accounts (ISAs). These often offer a friendly tax-free interest boost, which can help increase your spending budget for the following month. For a selection of easy-access savings accounts, I recommend checking out Money Saving Expert for the latest and trending news on savings accounts and utility changes.
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