Managing your money at university
Part of the experience of studying at university is learning to live independently and developing important life skills, one of these being learning to manage your own money. We've pulled together our top tips to help your prepare in advance of starting university and some further advice for when you arrive. You can download this as a PDF tip sheet here: Managing your money at university (PDF).
Working during your studies
Many students choose to work during their time at university in order to support their social life or expenses, to gain work experience, or to learn how to handle their own money. You can read our guide on how to find a part-time job at university for more information and tips.
Learning to budget
Learning to budget and manage your own money at university is an important skill and takes time to learn. You can start planning your budget by undertaking some research on accommodation costs, costs of clubs/activities/sports, and any additional course costs such as textbooks or IT equipment.
Save The Student provide useful advice on managing your budget as a student. Think about the format that would work best for you; would you rather use an app or a spreadsheet like the one provided by Money Saving Expert.
Cost of living at university
Some students may feel anxious about the cost of living and managing their money at University. We have lots of information and advice to help you manage your finances.
Read our advice and support on cost of living at university
Applying for student finance
If you are applying for student finance as a home/domestic student, make sure to complete your application before the deadline. Depending on where in the UK you live this will differ, but it is usually mid-to-late May. More information is available on the relevant student finance website:
- https://www.gov.uk/student-finance
- https://www.studentfinancewales.co.uk/
- https://www.saas.gov.uk/
- https://www.studentfinanceni.co.uk/
- https://gov.gg/studentfinance
- https://www.gov.je/Working/SkillsCareersHigherEducation/StudentFinance/Pages/StudentFinance.aspx
Taking out a student bank account
If you are applying for student finance you will need a bank account for the money to be paid in to at the start of term. There are lots of bank accounts designed just for students, each with different additional benefits such as interest fee overdrafts and other incentives.
You can research the different types of accounts available on the Money Saving Expert website to see which best suits you.
Try to be realistic. Shop for things you need first but try not to be too hard on yourself either if you do overspend at points.
Keep track of what you are spending by writing it down. Don’t be afraid to ask your university for help, should you need it.
Ali
Philosophy and Theology
