Financial
planning tips 

Before creating a budget, it is important to identify and categorise your expenses. Typical student expenses include:

• Annual Tuition fees – Paid in full in advance or in instalments
• Accommodation – Rent, utility bills, and internet costs
• Food and groceries – Daily or weekly food shopping expenses
• Transportation – Public transport, fuel, or cycling costs
• Books and study materials – Course-related expenses
• Personal and leisure expenses – Social activities, clothing, sport and entertainment

A well-planned budget helps you track income and expenses to prevent overspending. Follow these steps to create a simple and effective student budget:

1. Calculate your income – Include salary, loans, bursaries, and financial support from parents or government sources
2. List your essential expenses – Prioritise rent, food, transportation, tuition fees, and study materials
3. Allocate funds for savings – Setting aside even a small amount each month can be helpful in emergencies
4. Track spending – Use a budgeting app or spreadsheet to monitor where your money goes
5. Books and study materials – Course-related expenses
6. Adjust as needed – Regularly review your budget to ensure it aligns with your needs

Budgeting apps like MoneyLover, Cleo, HyperJar can help manage expenses.

1. Seek financial support
   • Research available scholarships or bursaries offered by universities or external organisations.
   • ION Bursaries
   • The Scholarship Hub
   • Turn2us
   • Apply for student loans if necessary and understand the repayment terms.
   • Consider part-time work to supplement your income while balancing your studies.
2. Cut unnecessary costs
   • Take advantage of student discounts on transport, food, and entertainment.
   • Cook meals at home instead of eating out frequently.
   • Buy second-hand textbooks or access books from the online library to save on study materials.
   • More details on discount codes and book purchases can be found in the annual Reading Lists (available in the online learning environment under “Reading and Resources” or via the Admissions Team for prospective students).
3. Plan for emergencies
   • Have an emergency fund for unexpected expenses such as medical bills or urgent travel needs.
   • Consider getting student insurance for valuable items like laptops or smartphones.
4. Manage debt responsibly
   • Many banks offer student-friendly accounts with benefits like free overdrafts.
   • Avoid high-interest borrowing and use credit cards only when necessary.
   • Make timely repayments on loans and debts to avoid extra charges.

By following these financial planning strategies, you can ensure a stable financial foundation throughout your studies. Take control of your finances early, make informed decisions, and seek financial support where available to enjoy a fulfilling student experience.