Welcome to issue #4 of the Miss Lolly newsletter.

It’s time for a twist, but still on theme. University life and finance to be precise—a new chapter for parents (emotional!) and children (freedom!) as they fly the nest.

University Life, Are You Ready For The Financial And Emotional Rollercoaster

With university just around the corner, it’s time to get yourself ready for this thrilling (and yes, sometimes costly) adventure. From savvy saving tips for tuition to practical advice on helping your children feel at home in their new surroundings, we’re here to ensure you’re fully prepared for this exciting journey. Let’s make this transition as smooth—and as enjoyable—as possible!

If you went to university, you’re about to go through the same ups and downs that your parents, grandparents and even great-grandparents experienced. So where do we start, their new Home Sweet Home, tuition fees, equipment, or the infamous student social life?

Planning For Your Child’s University Fees

When do you start, where do you start, and how much will a university education cost? As they say on University Challenge, here’s your starter for 10 (cheeky, who shouted, “that’s one for the older readers”?). 🙋‍♂️

🔍 Set a goal—As tempting as it may be to think of a number and double it, this is the business end of the process. It’s time to research universities and courses to get a clearer picture of what lies ahead—and additional costs!

For example, the average rent is £126 per week; however, students in London can expect to pay £182 a week. More examples of costs can be found here.

🐦 The early bird gets the worm – The earlier you start saving, the bigger the pot could be when they need it most. This handy calculator can help you to see the impact of starting early.

💰 Open a savings account – Whether it’s a Junior ISA or you choose to keep the money in your name and use your ISA, it’s time to start putting funds aside. And hey, if you close your eyes, you won’t even see it leaving your account!

🎓 Scholarships and grants – Now’s not the time to be proud. If your child qualifies for scholarships, bursaries, or grants, grab them! These can significantly reduce your out-of-pocket costs. Here’s a useful summary of what is available.

✂️ Cut unnecessary expenses – Are your monthly subscriptions adding up? It’s time to trim any unnecessary financial excess and redirect those funds to something more important. Did you know the average household wastes £4,575 per annum?

This isn’t the time to spin the roulette wheel, invest wisely!

Keep It In The Family

We love keeping things light in this newsletter, but we also know that watching your children spread their wings and head off to university is anything but light.

It’s a milestone filled with pride, excitement, and a fair share of challenges—not just for you but for grandparents and great-grandparents.

If family members would like to discuss gifting tax efficiency and what is affordable, then there are 10 Financial Diagnosis Sessions available for October.

We can schedule a chat to explore the best ways they can provide support—after all, many grandparents cherish the chance to help their grandchildren, who are often the apple of their eye.

With the right physical, emotional, and financial support, there’s no limit to what they can achieve.

By planning ahead, we can
💰 Maximise savings
📉 Minimise taxes
🛡 Ensure financial stability for your family

Let’s work together to ensure your family is financially prepared for this exciting new chapter.

Get Your Child Ready for University: Our Essential Guide

We’ve considered the rollercoaster ride of university fees—so, what’s next? Let’s dive into the nitty-gritty of student life: your child spreading their wings, gaining valuable life experience, and of course, handling the fun and practical sides of this new chapter.

1. The John Lewis Guide to Everything You Need for University
Yes, you read that right—John Lewis has put together the ultimate checklist for students heading to university. From bedding essentials and clean sheets to stocking the fridge, laptops, tablets, and more, they’ve got everything you need to make their new space feel like home.

2. Nosh for Students: A Fun Student Cookbook
Author Joy May has guided over half a million students with her must-have cookbook. Inspired when her son went to university clueless about cooking, this book (now in its sixth edition) is a must-have for students who might otherwise survive on toasties and Mars bars.

3. The IKEA First House Bundle
University life has evolved, and so have the essentials. IKEA’s got you covered with their simple, yet comprehensive, uni-essentials bundle. Think of it as everything your child needs for their first place—plus a little more.

4. Papier.com – Stylish Notebooks to Capture Your University Years
What better way to document your child’s university adventures than with a chic notebook? Get 10% off your first order, 25% off the second, and a special 10% student discount. With such a wide selection, these notebooks are bound to become their go-to—but parents, don’t expect to see them again once they’ve been bought!

5. Myunidays.com – The Ultimate Discount Platform for Students
This is your one-stop-shop for student discounts on food & drink, fashion, tech, beauty, lifestyle, and more. Check out the blog for cinema deals, top university picks, and the ominously titled “Freshers’ Survival Guide”—because who said university isn’t a matter of life and death?

As they say in the trade, there’s no shortage of other department stores, books, furniture shops, notebooks, and student discount platforms out there—but we think you’ll agree, this lineup is a pretty fantastic start!

Bonus Financial Tips for Parents
In this final section, let’s dive into some bonus financial tips for parents who want to help their children soar—while being ready to step in when they might stumble along the way.

🎉 Plan Ahead for Graduation Day
Don’t let graduation sneak up on you! It’s a milestone that’s exciting for everyone—parents, grandparents, and friends alike. Start planning early for those all-important graduation outfits, photos, and celebrations. Trust us, the big day will be here before you know it!

🏦 Consider Contributing to Their Pension Fund We know it might sound a bit premature, but contributing to your child’s pension fund could be one of the best long-term gifts you can give them. Did you know that even newborns can have £2,880 per annum paid into their pension, and the government will top it up to £3,600!
A little bit saved over time can grow into a significant nest egg, giving them a strong financial foundation as they start their careers.

💸 Set Up an Emergency Fund
Let’s face it—university life isn’t just about hitting the books. Sometimes, it’s about hitting the local takeaway a bit too often! Whether it’s a blown budget or an unexpected expense, an emergency fund can be a lifesaver when your child needs a little extra support between “paydays.”

🏠 Help with Living Costs 
Rent, groceries, utilities—these can all add up very quickly. By pitching in, you can help ensure your child can focus on their studies (and maybe enjoy a few “well earned” nights out) without constantly worrying about money.

💷 Play a Game of Snap with Savings 
Why not make saving fun? Set up a savings match account where you match every pound your child saves. A regular savings account could offer the best returns for this kind of plan.

It’s a great way to encourage good financial habits—but don’t forget to keep an eye on that bank card. Don’t let it out of your sight!

🚂 Cover their Travel Costs University might mean your child is flying the nest, but you’ll still want them home for the holidays! Covering travel costs ensures they can make it back for non-term time, giving you more precious moments together—even if it means saying goodbye all over again.

What about chipping in for a student rail card and saving up to a third on travel costs?

Nobody looks forward to their children flying the nest, leaving for pastures new, especially if it is miles away at university. But the least you can do is to start making plans, slip them a bit of spending money and make sure they know where you are. Clean bedding, a hot meal and a few pounds in their pocket, they will be back to see you every weekend they can, rest assured.

If you have any questions about the newsletter content or need further advice, feel free to contact us. We’re here to help!

Speak soon,