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Retirement Planning

Save Money While You Study

Unless you’re extremely lucky, when you’re a student you will always have to watch your budget. Student loans and grants are just enough for the necessities but there’ll always be more tempting opportunities to seize hold of than you rationally know you can afford. Even when you’re living in student accommodation London can be very expensive so here are some tips for making your budget go further and getting more out of student life.

Use the Library

Academic books are expensive. For one thing, they are the work of lots of highly qualified experts who command large fees (and maybe one day you’ll be joining their ranks), and for another academic publishers know they have a captive audience of students who need access to their books to write essays and pass exams.

You can avoid a big bill by making full use of the library: check out reading lists in advance to get hold of the key books before a crowd of students from your course descend. Look outside the university network as well: local libaries might have books you need that are overlooked by other students, and with cheap DVD and audiobook hire, are also a good source for low budget entertainment into the bargain.

Get Insured

Odds are you’re likely to need your phone replaced while you’re studying: mobile phone theft is rampant, sadly, but so are students being careless, drunk, exhausted from pulling library all nighters or a combination of all three. This is a recipe for mobile disaster, with handsets lost, cracked or dropped into toilets on a night out.

Phone insurance can make sure you get a replacement handset without delay or additional expense. You can often find reasonable schemes offered by your provider or your bank. If you have family who are keen to contribute to your university experience, this is one relatively low cost way they can reassure themselves they are keeping you safe and happy while you study.


If you travel a lot it’s worth looking into the discounts and schemes that can save you money. Most bus networks offer a student travel card that works out to be a good deal as long as you know you’ll use it, and railcards require some initial investment but can pay for themselves, especially if you live a long way from where you study.

Remember, if you’re having difficulty with finances while you study, consult your student union who can direct you to resources that can help.

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Erin Thompson

Erin Thompson spent years managing her own blog about budgeting and debt. Because of that, she has great insights not only about managing spending and borrowing but also about running websites profitably. When she's not writing articles for us, she's traveling and looking for new types of wines to try.
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The content on is for informational and educational purposes only. It is not financial advice and we are not certified financial advisors. strives to keep its information accurate and up to date, but it may differ from actual numbers. We may have financial relationships with companies listed on our site. We may receive compensation for the placement of sponsored products or services. We work hard to write authentic and accurate articles.