How to Budget as a Student (Without Missing Out on Nights Out)

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University is expensive – tuition, rent, food, books, and of course, social life. Budgeting might sound boring, but it’s the best way to make your money stretch without feeling like you’re missing out. Here’s how to build a realistic student budget that still leaves room for fun.

1. Know Your Income

Start with what you actually have coming in each term or month:

Student loan payments Part-time job wages Help from family (if any) Grants, bursaries, or scholarships

Break this down into a monthly amount so you know what you’re working with.

2. Track Your Essential Costs

Your must-pays come first. Typical student essentials include:

Rent & utilities Food & groceries Travel (bus, train, petrol if you drive) Course costs (books, printing, equipment) Phone bill

Add these up – this is your baseline.

3. Create a Fun Money Pot

Don’t cut out nights out, coffees, or society fees completely – just set a limit.

Give yourself a set weekly “fun” budget. Take it out in cash or put it in a separate account to stop overspending. If you don’t spend it all, roll it over for a bigger night the next week.

4. Use Student Discounts Everywhere

Your student card (and apps like UNiDAYS or Totum) can save you £££ on food, clothes, subscriptions, and travel. Before buying anything, check if there’s a discount code.

5. Budgeting Tools That Actually Help

Monzo / Starling – separate pots for rent, food, and nights out. YNAB (You Need A Budget) – good if you want full control. Google Sheets – free, simple, customisable.

6. Balance Work & Study

If you take a part-time job, be realistic – even 8–10 hours a week can cover food or social life. Just don’t overwork yourself to the point it affects your studies.

Final Tips

Be realistic – don’t set a budget so strict you can’t stick to it. Review it monthly and adjust. Remember: you don’t have to give up fun, just plan for it.

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