A guide to managing your money as a working student

A guide to managing your money as a working student

 In Student Life

It’s common for students to find work while studying at university. How much you work will often depend on your course workload and how much money you receive from Student Finance, bursaries, or other income sources.

With tuition fees, rent, and everyday essentials to cover, it’s easy for money to get tight. To help you stay on top of things, here’s a guide to managing your money as a working student.

Create a budget

Having a budget is one of the best ways to stay in control of your money. Start by working out how much you’ve got coming in each month. This could include your wages, maintenance loan, or any extra income from side hustles.

Next, list all your regular expenses, like:

  • Rent and bills
  • University fees or course costs
  • Travel and food
  • Subscriptions or entertainment

Once you’ve got everything down, you’ll be able to see how much is left for savings or spending. If you notice a shortfall, adjust your budget, maybe cut back on non-essentials, or pick up a few extra shifts if your studies allow. For more on student budgeting tips, you can check out this page here.

Look into credit options

Building a credit history while you’re a student can be useful for the future especially when you want to rent a flat, buy a car or apply for a mortgage later on.
If you decide to get a student credit card, always:

  • Spend only what you can afford to repay in full each month
  • Set up a direct debit for your balance to avoid late fees
  • Keep your credit limit low to reduce temptation

A good credit history will help you later on, but missed payments or unpaid balances can do the opposite. You can learn more about student credit options on MoneyHelper or MoneySavingExpert.

Consider a savings account

Even if you can only put away a small amount each month, having a savings account is a great way to start building healthy financial habits.

You could open:

  • A regular savings account for short-term goals (like a summer trip or new laptop), and
  • An emergency fund account for unexpected costs (like car repairs or extra rent).

Compare interest rates: some student-friendly banks offer over 4% AER on savings right now. You can check current offers on sites like MoneySavingExpert.

💡 Just remember: opening too many accounts at once can impact your credit score, so stick to one or two that suit your needs.

Seek advice when needed

If you’re struggling to keep up with your expenses or make your budget balance, don’t hesitate to ask for help.

Start by talking things through with your family or someone you trust. They might be able to offer practical help or simply reassurance while you get things back on track.

Most universities also have student money advisors who can:

  • Help you apply for hardship funds or bursaries
  • Offer budgeting tips and financial guidance
  • Support you with payment plans if you’re behind on tuition fees

You can also find free advice from Citizens Advice or the National Association of Student Money Advisers (NASMA).

👉 Final thoughts: You’re not alone. Most students juggle tight finances, and getting advice early helps. A little planning goes a long way. Keep a budget, save when you can, and ask for help when needed. This will help you stay on top of your money and be better prepared for life after uni.

At Student Employment Services, we specialise in internships, student placements, and graduate jobs across the UK. We connect both students and graduates with large corporations, start-ups and SMEs.

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