Managing Your Money

Budget, Budget, Budget!

Budgeting is a game-changer when it comes to keeping tabs on your money. It means you know exactly what’s coming in and going out of your bank account, and you’ll feel more confident about your spending. A lot of us think budgeting is hard work, but it doesn’t have to be.
Follow these simple steps to take control of your money and find out how much you can spend.

  1. Add up your income for the term. This includes your maintenance loan, any grants or bursaries, support from family, and income from your job.
  2. Take off your regular outgoings. This includes rent, monthly bills, travel costs, and food.
  3. What’s left is yours to spend (or save!) Divide it by the number of weeks or months in the term to find out your weekly or monthly budget.
  4. If you’re spending more than you have coming in, you’ll need to do a little extra work to get things back in balance. Book an appointment with a Student Money Adviser or talk to our Careers team about finding work to earn some extra money.

Check for Discounts

From clothes to tech, food to travel – you can save big just by being a student. But don’t let discounts trick you in to spending more. A 20% discount still means you’re paying 80%, so only buy what you actually need.

Before you check out, check for discounts. TOTUM, Student Beans, and UNiDAYS all offer free memberships, so make sure you’re getting the best deal before you buy anything.

Get Cooking

For most students, food is your second biggest expense after rent. Fortunately, there’s lots of ways to keep the costs down.

Plan out what you want to eat for the week, make a list of ingredients, and stick to your list when you’re shopping to avoid impulse buys.

Check the price per kg/litre. Bigger packs often work out cheaper, especially for long lasting items.

Batch cook and store some leftovers for a later date. You can also take them for lunch, so you’re not tempted to spend on campus. Hot drinks and bottled water add up over time, so take these with you too.

How about a house meal? Split the cost, cook a big meal together, and enjoy a great meal for next to nothing. It’s also a great way to connect with your housemates.

Save on Travel

Depending on where you choose to live, travel can be a big expense.

A 16-25 or 26-30 Railcard gets 1/3 off rail fares, making trips home and your journey to university cheaper.  It costs £30 a year, but sometimes you can find a discount or even grab one for free with certain student bank accounts. Plus, with the average railcard holder saves between £190 and £260 a year, they usually pay for themselves in no time.

Get Some Support

Whether you’re struggling with your finances, need some advice, or just want to make your money go further, our team of friendly Student Money Advisers are here to help. They’ll meet with you to talk through your situation, help you explore your options, and find the best support for your situation.

Booking an appointment is quick and easy through our Student Services Helpdesk.

Dust off your CV

Working while you’re studying will provide extra disposable income and you’ll gain some valuable work experience that you can add to your CV too.

There are plenty of opportunities to earn while you learn at the University of Chester. Our unique UniJob scheme advertises part-time work at the University, so you could get a job on site to fit around your studies. Also, our Employer in the Foyer visits are a great way to connect with local employers while they’re on site, looking for students who want part-time work.

The Careers and Employability team is always on hand to help students find paid workplace experiences, internships and placements, as well as offer support and guidance on anything from advice on your CV to interview skills.