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How To Budget As A Student

March 18, 2020

Being a student can be a challenge in itself. Trying to balance studying with everything else in your life can be a struggle. The last thing you want is money trouble. Adding a few new habits to your routine is easy and beneficial to your student budget.

Budget calculator

Working out your budget as a student is paramount. If you regularly overspend, it can land you in trouble. Using a budget calculator will help you to understand your finances in one place. It will take into account your incomings and outgoings, and show you how much money you have spare each month. Set yourself limits and abide by them. Websites, such as The Money Helper, offer a free Budget Planner tool.

Reduce expenses

If your results of the budget calculator show little to no funds at the end of each month, you may want to consider reducing some of your expenses. If you live in shared accommodation, ensure you’re contributing the correct amount and suggest splitting the bills that housemates also use, e.g. your gas, electricity and Netflix account. You may not be able to adjust your compulsory expenses, such as your accommodation or tuition fees, but think about where you can make cuts in your luxuries.

Student discount

Thousands of companies offer student discount – online and in store. Whether you’re shopping, eating in restaurants, or using public transport. Make the most of these discounts as your savings will soon add up, and don’t forget to use them on top of existing deals where possible!


Nearly every store will have deals at some point throughout the year. Some are more often than others, and some are all year round. For example, providing you fit into the criteria, 2 for 1 cinema tickets are available to customers. Keep your eye out for money-saving deals!


Public transport companies are aware of how many students depend on their services, and offer deals such as a discount railcard to save you some money:

  • 16-25 Railcard – ⅓ off train fares.
  • Young Persons Coachcard – ⅓ off coach travel.
  • Student Oyster Photocard – 30% off London travel.
  • yLink Card – ⅓ off bus and rail travel in Northern Ireland.

College/University materials

As if being a student isn’t costly enough, there’s more. Your materials will cost you a small fortune too. Be forward-thinking with how you get them and be realistic. If you need a book for a short time, simply borrow it from a library. If you need a specific book for the duration of your studies, buy it second-hand. Ex-students often sell their old books cheap, so ask around!

‘No spend weekend’

You’re bored, it’s the weekend, and you’re trying to save your money. Great! What can you do this weekend? Click over to our ‘no spend weekend’ tips!

Get a part-time job

It can be a good idea to get a part-time job to boost your income in between your classes and studying. With your extra income, you can either spend money, save money or pay off any outstanding bills that you previously couldn’t afford, e.g any credit cards.

Save the Student

Student money websites, such as Save the Student, will give you the latest advice, tips and discount codes. From student bank accounts to maintenance loans, the student finance website can help you with it all!

Monitor your spending pattern

Look at when you are spending so you can establish a pattern which will help to cut down some of your costs. For example, noticing you spend most of your money while you’re out at weekends may boost you to manage your money. Follow your spending via your social profile with Notty.co.uk and restrict when you go out during these times.