Learning how to save money before university and manage your finances as a student can reduce stress and help you feel more prepared ahead of your course starting. We look at ten student budgeting tips to help you save money as you start university.
Written by Grant Longstaff. Published 26 June 2026.
Earn before you start university
One of the best ways to prepare financially for university is to start earning money before you begin your course.
Look for a job over the summer and try to save a little of what you earn. It’s also a handy way to earn some valuable work experience. If you’re moving to a new city for work the experience could help you find alternative employment in your new home.
If you have a job with a national company such as a clothes retailer, restaurant or bar, check if they have a location where you’re studying. It might be possible to stay with a company and fill a position elsewhere which could remove the need to job hunt during your first few weeks.
Even a small savings pot could ease the financial pressure of starting uni.
Build an emergency fund
Unexpected costs are a part of student life. You might need to invest in a new laptop after an incident with a misplaced coffee, need to travel home unexpectedly or pay for a car service. Whatever it is, it helps to have a little pot of cash for these emergencies.
You don't need to save thousands. You do need to live after all. But setting aside a small amount each week can ultimately make a difference. If you can start saving before you begin studying, it’s even better.
Create a realistic budget
Budgeting is an important financial skill for students. Before you start, take some time to calculate your income and expenditure. Take into account your savings, income and any student loans, grants, scholarships or bursaries you’re receiving. Likewise, factor in what your outgoings are; travel, fuel, rent, course equipment, textbooks, mobile phone contract, gym memberships. Whatever you regularly spend money on.
Budgeting doesn’t mean you can’t do anything fun. It can actually help to include money for enjoying yourself, such as activities and days out, within your budget. A realistic budget helps you understand where your money is going, how much you need and highlights places you might be able to make savings.
Compare bank accounts
Consider if it’s worth changing your bank account as many banks run promotions and cash incentives for joining them. With student bank accounts you might also get other benefits like cashback or access to rewards and benefits such as free railcards or mobile phone insurance. Just make sure to thoroughly research the accounts and ensure there aren’t any hidden charges.
Second hand shopping
There is a huge market for second hand goods, and this can be particularly beneficial when you’re a student. Before you buy an expensive, brand new textbook check online to see if you can grab yourself a discounted used copy. Looking for some fancy dress for a student night out? Check Vinted before you splurge on an unnecessary costume.
Whether you’re looking for course materials, clothes, furniture, appliances or electronics it might be worth checking out second hand items first as it can help stretch your budget further and allow you to spend the money on the things you really want to.
Learn to cook
You don’t need to be working towards a Michelin star, but having some cooking skills and easy recipes under your belt can help when it comes to university life. It means you’ll be less reliant on convenient, but costly, food options, such as cafes and takeaways. Preparing your own meals is also healthier and, if you want to get really organised, you could even batch cook and freeze the leftovers.
Use credit cards responsibly
Credit cards can be useful when used responsibly, but they can also create financial problems if they’re not properly managed. It’s always best to discuss credit cards with someone beforehand, such as a family member or friend, as they can help you unpack the details of the agreement and examine the small print.
Take advantage of student discounts
Students can access a wide range of discounts. Many retailers, restaurants, entertainment venues, software providers and transport services offer reduced prices for students. Whilst these discounts can seem small the savings do add up and can make a difference during your time as a student. Make sure to start utilising the discounts as soon as you gain access to your student email address. Why pay more when you don’t have to?
Avoid overspending when you first start university
University is an exciting time and it’s easy to get carried away, particularly in the first few weeks of your course. Whether it’s clothes or kitchen utensils, many students feel pressure to buy new items, when they start university. However, this ties into one of our earlier points about being thrifty.
Before you buy anything, ask yourself if you genuinely need it. If you’re furnishing a room take stuff from home, ask for unwanted items from relatives, utilise the wardrobe you already have. Being economical, especially during the first few weeks, can help preserve your budget for expenses that arise during the rest of the year.
Utilise free software and resources
Before you pay for new subscriptions or applications it’s worth checking if there’s a free alternative or a student version at a reduced rate. Many universities provide students with access to a range of software packages, online learning resources, cloud storage, productivity tools and academic databases as part of their course. Make sure to utilise whatever it is they offer and save where you can.
Developing positive money-management habits before you arrive at university can help you make the most of your course and focus on what matters most throughout your studies.
Take a look at our cost of living hub for budgeting advice, student finance guidance and information about the support available for our students.
