Managing Your Money

Going to university may be the first time you’ve ever really had to budget for all of your own living expenses. Worrying about money isn’t going to help you enjoy student life, so follow our top tips and avoid any problems:

Get all the support you can

Have you made sure you’re getting all that you are entitled to from Student Finance?  Double check this on the student finance site

Prioritise and budget

There are some things you’ve simply got to pay regular set amounts for—like accommodation, utility bills, etc. Give these top priority and pay them first and on time. Then work out where your other big expenses will be; travel, food and materials, for example, and set yourself a weekly budget—then stick to it!  'Save the Student' budget calculators and spreadsheets could help you.

Discounts & benefits

Wherever you can, take advantage of frequent-user discounts and benefits (railcards, bus passes, supermarket loyalty cards, etc). Shop around for those great ‘buy one, get one free’ deals. Remember to flash your NUS card as often as possible—and what about the NUS Totum Card? It gets you discounts off books, student insurance, clothes, sports stuff, CDs, travel, computer gear, gigs, eating out… in the UK and abroad.

Be insured!

It’s easy to overlook insurance—but hard to cope without it when something goes wrong. You may think you’re covered by your parents’ household policy, but they often have limitations and exclusions when it comes to students’ possessions. Without a good policy, how would replace your phone, your laptop, your TV? Remember—insurers may not pay out if you’ve been careless, so take great care with security, and keep doors and windows locked.