Students are masters of stretching out their money. The cost of rent, bills, textbooks and nights out are relatively easy to estimate in advance, but there are always some unexpected extras that might send you into the red. If you are wondering how to manage a student budget, then read on for some top tips…


Know what you’re spending

The best student budget advice that we’ve heard is to always keep an eye on your spending. You will probably have some monthly direct debits for things like rent and bills, and your transport to and from lectures should also be fairly regular. But nights out can vary wildly in cost, and then there are those random purchases of clothes and strange fancy-dress outfits that come out of the blue.

Most student bank accounts now are great at keeping you informed of where your balance is, and some will send text alerts to your phone if you go into your overdraft. Many students are perpetually in their free overdrafts, so it’s not necessarily a bad thing, but just make sure you know how much you have, and what is still to come out.


Predict the expensive moments

Freshers’ week has become eye wateringly expensive for many students, and according to UCAS the average spend for the week is at a record high of £421. Preparing yourself for that (either by saving up or making a mental note to avoid it) can ensure you start your university career on the right foot. At the start of each semester, you are likely to be given a list of textbooks needed. Some will be available from the library or online, so make sure you check before buying. For all the rest, this UCAS budget calculator is a great place to start.


Know what’s coming in

If you have student loans, grants, or any kind of sponsorship (lucky you) then make sure you know when these are due into your account and how much each instalment will be. The Maintenance Loan usually arrives in three large lumps throughout the academic year, it’s easy to track by logging into your online SLC account. Once you know when they’re due, you can plan your budget around those moments.


Student discounts

Leeds is a city full of students, and that means it is also full of places that offer student discounts. Most business will want their share of the student pound, and therefore realise that enticing discounts will help them to stand out from all the competition. Apps like Totum, Student Beans and Unidays have regular offers, and you will also get to know which places offer discounts on particular nights.


Get the right bank account

Banks love students, because once you have opened an account with them it is very unlikely that you will ever leave. Because of this there are often numerous offers available, from free travel cards to discounts at shops and businesses. Do your research and pick the right account for you.


For more student advice and to check out the luxury student properties that we currently have available to rent at great prices, browse our website.