Starting university is one of the most exciting times in your life. It’s a chance to meet new people, learn new things and take your first real steps towards independence. But, with that independence comes a whole new world of responsibility – especially when it comes to money. Student life is famously tight on funds, but don’t worry, there are plenty of ways to stretch your budget and still have a great time.
Create a Budget (And Actually Stick to It)
It might sound obvious, but the first step to managing your money is knowing where it’s going. Sit down with your student loan or income and work out your essential costs. These might include rent, bills, food, travel and course materials. Once those are covered, you can see what’s left for everything else.
There are plenty of free budgeting apps available which can help track spending and categorise your expenses. Even a simple spreadsheet works wonders! Just remember: if you don’t track it, you can’t manage it.
Make the Most of Student Discounts
One of the best perks of being a student is the endless discounts available. From train travel to high street shops, streaming services to software, your student status is like a VIP pass for savings.
Sign up for UNiDAYS, TOTUM, and Student Beans; to access thousands of discounts. Don’t forget to ask in-store too – many places offer discounts but don’t always advertise them. Plenty of restaurants, food spots and entertainment venues also offer special student rates during the week when it’s usually quieter, so it’s always worth asking.
Learn to Cook (Yes, Really)
Eating out and ordering takeaway is convenient, but it’s one of the fastest ways to burn through your budget. Cooking at home can save a surprising amount of money. Start simple: pasta, stir-fries, soups, and one-pot meals are cheap, filling and hard to mess up.
Batch cooking is your best friend, too. Make a big pot of something tasty and freeze portions for later in the week. Buying ingredients in bulk and sharing meals with housemates can also help cut costs.
Second-Hand Isn’t Second Best
Before you head to Amazon for your textbooks or IKEA for your furniture, check if you can find it second-hand. Many universities have book swap groups or noticeboards, and websites like Facebook Marketplace, eBay, and Gumtree are goldmines for affordable essentials nearby.
Charity shops are also brilliant for clothes, kitchenware and even fancy dress costumes for those themed nights out. Not only will you save money, but you’ll also be shopping more sustainably.
Use Your University Resources
Universities are full of resources that can save you money, from free counselling and wellbeing support to careers services and computer labs. Make the most of your library before buying books and explore the free events and workshops often on offer.
If you’re struggling financially, many universities also offer hardship funds, bursaries or budgeting support services. It’s always worth asking what help is available.
Earn a Little Extra
A part-time job can ease financial pressure and add valuable experience to your CV. Look for work that fits around your studies – bars, cafes, restaurants and student ambassador roles are often flexible and fun.
Alternatively, try freelancing or gig work like tutoring, pet sitting, or delivery driving. Just make sure you’re not taking on too much and leaving yourself burnt out.
Budget-Friendly Fun
Having fun at uni doesn’t have to mean spending a fortune. House parties, film nights, bring-a-dish dinners and society events can be great alternatives to pricey nights out.
Many towns and cities offer free or discounted entry to museums, galleries and events for students. Keep an eye on your students’ union calendar and local listings for low-cost entertainment options.
Plan Ahead
It’s easy to get caught up in the day-to-day, but a bit of forward planning can go a long way. If you know you’ve got a big expense coming up, like a trip home or a society event, try to put aside a little money each week in advance.
This also applies to your living situation. Accommodation is usually your biggest bill after tuition fees, so it’s vital to budget for it carefully. Whether you’re in Manchester student accommodation or halls in another city, it’s worth planning your contract dates, utility bills and deposit returns to avoid any nasty surprises. Try to find a place that’s affordable without compromising on comfort or safety – your home should be a space where you can feel secure and relaxed while you study.
Spend Smart, Live Well
University is a time to explore, learn and enjoy yourself – and being careful with money doesn’t mean missing out. With a bit of planning, a dash of creativity, and a willingness to try new things, you can stretch your student budget further than you think.
Remember, everyone is in the same boat, and talking about money with friends can help you all make smarter choices. So be kind to yourself, be smart with your spending, and enjoy the ride. You’ve got this!
