How to manage your money at university

As another year of A level and BTEC results flood in across the country, thousands of students will soon be preparing to head off to university.

This is likely to be "your first time striking out on your own", said OneFamily, and while there are plenty of lessons to be learned in lecture halls, "one of the most important" things to grasp is "how to manage your money".

It can be an overwhelming experience, and that makes it "easy to lose track of your spending", but careful thought and planning can help with your finances and enable you to truly "get the most out of your time".

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Set a budget

The best way to manage your finances at university is to "work out exactly where your money's going", said Equifax. Essentially, this means calculating how much is "going into your account", including student loans, grants and savings. This will then need to be weighed up against "everything you'll need to spend money on", like rent and bills, food and drink, and items needed for you to study.

Once you've highlighted your expenses, "brace yourself", said Save the Student, as you'll need to "break them down into a weekly budget". This can be done by calculating total income for a term at university minus essential outgoings. Then, simply "divide the number you're left with by the number of weeks in a term" to calculate how much you have per week.

As a concept, budgeting may seem "pretty boring", but there are "loads of benefits" to having a clear idea of income and expenses – mainly that you can safely "continue to spend money on the things you need and enjoy".

Open a student bank account

A major "perk" of studying at university is having access to a student bank account, said Ucas. Many of the accounts on offer will "boast fancy extras to catch your eye", such as discount travel, cut-price cinema tickets and gift cards.

"Don't be swayed by these alone though." While certain offers, like a travelcard, "could save you a small fortune", students should think about the offers they will "actually use".

One eye-catching new offer is from Santander Edge, which is offering a "guaranteed 0% overdraft each year" and a free four-year railcard, said MoneySavingExpert. A competitor is the Lloyds Student Current Account, offering a "decent overdraft" alongside "free perks" including £100 cash and up to £90 of Deliveroo vouchers.

Find a university job

With "expensive" tuition fees and "hefty" student debt, many students will "unsurprisingly" be looking for a part-time job to partially alleviate the "financial burden" of university, said Prospects.

Some jobs are available on campus, such as helping in the library or university bar, and vacancies will arise "throughout the year". Other opportunities could be found outside of campus to give "a taste of working life".

But while a part-time job could be a "crucial source of income", it is also a way to "meet new people and develop some transferable skills", said Morrisby. A "bonus" is to find work "relevant for your future career plans", but "any kind of work" is likely to be useful in personal development.

Find discounts

As a student, "you should be able to save money on almost everything", but "research" is vital, said the Complete University Guide.

For example, food shopping will be a regular task, but students should always "check for coupons and offers" as "apps or loyalty cards" are common.

A good place to start is with a student discount card – such as Unidays or Student Beans – that will offer deals on "everything from food and clothing to beauty products and travel", said OneFamily. And never "be afraid" to ask if a shop has a student discount "when you get to the till".

You can "shop smart" with these discounts, but they shouldn't be used as a "reason to spend money on things that you don't really need", said MoneyHelper.

Check if you can get help

There are "various sources of funding" available to university students – both undergraduate and postgraduate – so "make sure you are accessing everything you are entitled to receive", said University College London.

The cost of tuition – £9,535 for the 2025/26 academic year – is covered by the Student Loans Company. Maintenance loans are one of the most common forms of support, designed to "cover your living costs", said MoneyHelper, but how much a person is entitled to depends on where they live and the location of their university.

"Other means-tested grants and funding options" may also be available, so it is worth visiting the official student finance websites for England, Scotland, Wales and Northern Ireland for further information.