Your Guide to Budgeting at University

Discover how you can save some money while studying at university!

Budgeting at university is an important part of student life. Discover our top tips on managing your budget to help get you started.

1. Student budget calculators

Need help creating a budget whilst you're at university? There are some great online budget calculators and budget planners out there that will help you save money and keep track of your finances.

Budget calculators and planners are useful if you want to estimate your costs for the next month, year, or semester. Planning helps you breakdown what you're spending and plan ahead for big expenses.

Calculators can help to identify issues before they arise. For example, they might make you consider getting a part time job or highlight where you could make cutbacks.

2. Create a monthly budget

Concerned about how you'll support your living expenses whilst at university? Budgeting may seem boring, but it's important to create a manageable plan that will help keep your finances on track.

Keeping track of money coming in and where you are spending money is important. Planning ahead and having awareness of what your outgoings will be each month, will ensure you have enough to survive and thrive during your time at university.

Having a budget plan will also help you prepare for any unexpected costs, like smashed phone screens and broken laptops.

3. Save while you study

From cheap takeaways to all-inclusive bills in our accommodation. There are some fantastic benefits to studying with us which will save you lots of money during your time at university.

At the University of Central Lancashire, we’ve got social spaces on campus, affordable meals, fantastic library resources, night bus services, free access to top software and equipment, cheap eye clinic appointments, fun events, and much more! Check out what else you can find while studying here!

Money saving tips

Want some more advice on how you can save money this summer? Try these money saving hacks!

• Shop second-hand! Before you start university, check out places like Facebook Marketplace and charity shops. Discover second-hand home furnishings and kitchenware for a fraction of the original sales price.
• New love for old clothes. Apps like Vinted and Depop are great for buying brand new and second-hand clothes for discounted prices. If you want to make cash whilst you're here, you can also easily sell clothes on the apps.
• Use your student discount! Don't forget, one of the great perks of being a student is having access to amazing student discounts. Before you buy anything research into whether the retailer offers student discount as many places do.
• Buy discounted food. If you're food shopping late at night, check out the reduced food aisle for bargains. If you can't eat it that day, it may be suitable for freezing and will help you save money on future meals.