0800 043 5133

Student budgeting

When you start University it is a very exciting experience; probably one of the most memorable times of your life. However, depending on your circumstances, it can be a tough time financially too. We have highlighted some of the main points to surviving financially during your student years, so your experience can be as enjoyable as possible from a financial perspective. You can make university a time where you learn a lot of life and financial skills and still have a lot of fun, whilst getting your further education too.

Fill in the form on this page or call freephone 0800 043 5133 for free & confidential advice on your debts.

Get debt advice


Student Loan

Firstly, if you are fortunate enough not to need a Student Loan or feel you can manage with out one, then don't get one. You'll be glad of it in the long run, when you don't have thousands of pounds to pay back. You can still follow the tips below on how to make your money stretch. If you do need a Student Loan, the first thing you need to do is tell yourself

"I need this money to last me for the full university year".

It could be one of your main sources of income for the year, so you might want to hold off on spending uneccessarily! A good way towork your student loan is to draft up a list of how many weeks/months there are between each installment. Then divide each instalment between the number of weeks or months. This will show a breakdown of exactly how much money you have to budget on from your student loan.


It is difficult to curb your spending when you're a student. You have potentially more freedom, a social life, education stuff to pay for, transport, rent, food, not to mention drink, clothes etc...

  • Student discounts - Take advantage of these wherever you can. Try and buy items out of necessity though and take advantage of the discounts on offer.
  • Budget buy food - There are so many budget-buy food shops, especially in student populated areas, where you can live a healthy balanced diet on a very low budget. Wherever possible, get creative in the kitchen and cook your own meals. Save the take aways and eating out as a treat as this can save you money.
  • Transport - Do you live near uni? If so, you'll save a fortune on transport costs by walking or cycling. Cycling and walking can be a great way to fit in excercise, which can help you feel and focus better whilst saving you money. If you live slightly further, look into the best budget passes for public transport in your area or car share.

Part time Work

  • Getting a job or Part-time work during your University years, can add skills and experience, teaching you responsibility and how to juggle several tasks, never mind providing you with additional weekly/monthly income.
  • Be mindful not to let work overtake your studies though. It can be easy to give priority to the need for the extra money... but this can leave you tired, neglecting your studies, stress etc...

Summer Work

  • If you feel like you cannot dedicate the time to part-time during your studies, perhaps a summer job will be a better idea. You could consider finding full-time work throughout the summer holiday period when you are on a break from uni. This can be a great time to work and save some money to tide you over during term time.

Bank Account

  • Getting a Bank account when you become a student can be to your advantage. Some banks offer attractive cashback offers and deals. So, be sure to go for the one that will benefit you the most financially. 0% or low interest overdrafts can be beneficial for a student in some cases too. If you take out an overdraft, be sure to get the best deal possible and remember that you might have to pay it back at some point, so might want to be mindful of the amount you apply tro your account.

Are you struggling with debts?

  • Whether you are a student or a graduate, if you are struggling and need help with debt, contact our debt advisers now on 0800 043 5133.

    We offer confidential, no obligation Debt Advice!

Need help with your debts?

If you need some help and advice on how to deal with unaffordable debts, click the button below and fill in our contact form. One of our advisors will then contact you to discuss your options.

I need advice