Personal Finance 101: A Student’s Guide to Managing Money in the UK
Moving to the UK for university is exciting. But with that freedom comes something less exciting: managing your own money. Between rent, travel, groceries, and the occasional coffee (or five), budgeting can feel overwhelming—especially if this is your first time living away from home.
The good news? You don’t need to be a finance expert to manage your money well. You just need a plan, a few smart habits, and the right tools.
Let’s break it down!
1. Understand Your Budget: Know What’s Coming In and Going Out
Start by writing down (or using an app for) three key numbers:
- Income: Student loan, allowance from home, part-time job
- Fixed costs: Rent, transport, phone bill, subscriptions
- Flexible costs: Food, nights out, clothes, weekend trips
Tip: Bank accounts like Monzo, Revolut, and Wise automatically track your spending by category, so you can see where your money’s really going.
At GoBritanya, your rent already includes bills, Wi-Fi, and utilities, so that’s one less thing to stress about—making it easier to manage your finances predictably.
2. Save on Groceries (Without Eating Instant Noodles Every Night)
Cooking for yourself is one of the easiest ways to save money, and it doesn’t have to be boring.
- Shop smart: Get a Tesco Club Card or Sainsbury’s Nectar Card for grocery discounts
- Meal prep: Cook in bulk and freeze portions
- Join up: Share groceries with flatmates to split costs and avoid waste
Apps like Too Good To Go let you buy unsold food from restaurants and cafés at the end of the day for a fraction of the price.
3. Master Student Discounts Everywhere
Your student ID is your golden ticket! You can get 10–30% off at hundreds of places:
- UNiDAYS / Student Beans: Online discounts for clothing, tech, and food
- 16–25 Railcard: 1/3 off train travel across the UK
- Student Cinema Deals: Vue, Odeon, and Curzon offer cheaper weekday tickets
- Cafés & Restaurants: Many offer small student discounts
4. Learn to Spot Hidden Costs
Even when you’re careful, small expenses can sneak up:
- Late-night food delivery
- Monthly subscriptions (Netflix, Spotify, etc.)
- Transport: Ubers instead of buses
Fix it: Once a month, open your bank app and cancel anything you don’t use. Small savings make a big difference over time.
5. Part-Time Jobs Can Help (But Know the Rules)
If you’re an international student on a visa, you can usually work up to 20 hours per week during term time.
Popular student-friendly jobs include:
- Barista, bartender, retail assistant
- University ambassador roles
- Tutoring
- GoBritanya Student Ambassador
6. Build Healthy Money Habits Early
- Save a little each month, even £20 builds up
- Avoid overdrafts or credit cards unless absolutely necessary
- Set “spend-free” days each week to reset your budget
7. Enjoy Student Life, Just Smartly
You don’t have to say no to everything—it’s about balance.
Plan your nights out, use free campus events, and join GoBritanya’s community pop-ups where snacks and drinks are on us.
Some of your best UK memories will come from moments that don’t cost a thing: movie nights in the lounge, walks along the Thames, or Sunday dinners with friends.
Final Thought
Managing your money as a student doesn’t mean you have to cut out fun. As long as you make smart choices that give you more freedom—not less.
At GoBritanya, we’re here to make your life easier—from all-inclusive living to community events that bring priceless value to your student experience.
You focus on studying and exploring, and we’ll handle the rest.
