Managing your money
Have a look at what our students have to say about managing money – they’ve all been there so you can learn from their top tips (and mistakes)!
In this step, we’ll break the key components of finance and budgeting down to help you understand how it all works, and pick up some top tips!
Top budgeting tips
Here are some of our top tips for making your money go further at university:
- Set yourself a (realistic) budget and keep a record of money coming in and going out.
- Pay for your essentials such as accommodation and food first so you know how much you have to left to spend on optional extras, socialising and luxuries.
- Withdraw cash for the week so that you know exactly how much you have to spend and are not tempted to overdo it.
- Get a student travel card so you can save on rail fares for trips away.
- Buy second-hand textbooks if appropriate (ensuring they are the correct version for your course) and check which books and equipment for your course are essential.
- Get a student card and make the most of discounts available in shops and restaurants.
- Cook from scratch, in bulk or with housemates, so you can spread costs and keep takeaways as a treat.
- Consider a part-time job if you are able to balance it alongside your course.
- Remember that your loan is paid in 3 installments but will need to see you through the holidays as well as term time.
- Buy a bike or walk wherever you can rather than using public transport.
- Make sure you meet all student finance application deadlines to ensure you give yourself the best chance of receiving your funding in time for the start of term.
More advice from students
Read some of our student blogs on ways to manage your money:
What do I do if I get into difficulty?
If you do find yourself encountering unexpected financial problems when you are at university then don’t keep it to yourself. Your university’s Student Support team will be able to provide you with advice and guidance to help you navigate the situation and may have funding that you are able to apply for in such circumstances.
Have you got any further tips for making your money stretch further? We’d love to hear them in the Comments.
Next Steps to University: From Choosing A Course to Your First Assessment
Next Steps to University: From Choosing A Course to Your First Assessment
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