Blog post

Money matters – how to budget at university

Ewelina Wisniewska gives her top tips on how to budget for university. Find out how to plan ahead, save money and stretch out your student loan.

By Ewelina Wisniewska - 3 July 2017

One of the great things about going to university, especially if you are living away from home for the first time, is your independence.

At the same time, this new-found freedom can be a little overwhelming. This is especially the case at the beginning, when you have your first few weeks of class to focus on.

The good news is that everyone is in the same position, and all your fellow students will have ideas on how you can stretch out your loan.

Plan your budget

Budgeting is important though, so it’s worth spending the time to come up with a plan. After all, you don’t want to miss meals or trips to the cinema because you’ve blown your funds at the start of the semester. Believe me – this does happen!

Like most people, I made a few mistakes when I started managing my own money. Then I started to monitor what money was coming in and out of my account. This helped me to see how much I was spending on food, going out, transport and other necessities. With this information clear on a piece of paper I could decide what I could afford after I had paid all my bills, including my rent. Then it was a case of looking for ways to manage my money to last through the semester.

Money-saving tips

If you’re starting university this year, these are my top four budgeting tips.

Save spare cash

Finally, being at university doesn’t mean not having money. There are ways to factor savings in to your spending and plan how much to save on a weekly or monthly basis. One trick that has been working well for me is putting any spare change under £1 into a glass jar. After two months I managed to save around £150 without even feeling it. I put this money towards travelling to South Korea, Canada and Europe.

About the author

Ewelina Wisniewska
International Tourism Management student

I have just completed my second year of studies on the BA (Hons) International Tourism Management and am pursuing my dream placement with Skills Holidays as a Brand Product Planner where I am responsible for the Laver brand.