How to money manage: a student's guide

Student life is hard! One day you’ll feel like Leo DiCaprio in The Wolf of Wall Street and the next you’ll be feeling like Cinderella- before she finds a rich husband. Yes, the iPhone X looks incred, and yes, the new season Topshop launch looks beautiful- but we need to have some self-control.

So, where do you start? We’re here to tell you.




Whether you’re lucky enough to have a part-time job or you rely on the Bank of Mum and Dad, you need to manage your gains and losses.

Make a list of the total amount of money you will receive that month (assuming you won’t call in ‘sick’ or sack of doing the dishes for yet another week), and subtract all of your necessities- this does not include McMuffins, people!

You should be considering things like bus/train fares, textbooks, petrol money, and any direct debits that you’ve signed up for; like a gym membership, Spotify, or extra iCloud storage so you can have space for all the cute pics of your dog.



Whether it’s an item you really want to buy, or the amount of zero’s you want to see in your bank, setting a goal is very important. It will help keep you motivated, and help you to make decisions about whether you really need those new shoes or not (the answer is normally no, sorry).



Getting into a routine of saving your hard-earned cash is hard, but once you get into it you will thank yourself. Whether you can afford to save £5 a month or £5 a week, every little helps. It’s a nice feeling to see all the money stashed away knowing that you’ve be disciplined enough to keep it there this whole time- it’s one of the first steps to becoming an… adult (*shivers*).

If you know that you’re really bad at saving money, give it to someone else! Tell your mum/dad/sister/grandma/uncle/dog/uncle’s dog to put it away and not let you touch it- under ANY circumstances.



Really, this should be rule No.1- but we can’t all get what we want. So after you’ve done all the hard stuff, treat yourself. Budget a little for new clothes, video games and Nando’s- but be tight on yourself, no matter how good the creamy mash is. Depending on your monthly income, this could be anywhere from £10 to £100, but don’t just spend the money because you can. The worst thing to do after payday is go and splurge, because at the end of the month you will hate yourself for it.


Not quite sure if you're good or bad at saving? We can help! Take our quick quiz to find out if you're better at splashing or stashing the cash! Click below. 

Emily Baulf