Beat Financial and Employment Stress | Stress Awareness Week

Beat Financial and Employment Stress | Stress Awareness Week

Emma Palmer

Students are often characterised by large overdrafts and counting the pennies, but that doesn’t always have to be the case. This blog will give you some advice on how to begin managing your money and where to seek support.



It’s important to create a budget and stick to it. This can be as simple as limiting yourself to £70 a week, however when you have bills coming out and student loan coming in it can be difficult to keep track of what’s going where. Try creating a table of where your money goes, and from there set a budget. Include:

How much is coming in:

  • Student loan
  • Salary
  • Extras from family

How much is going out:

  • Rent & bills
  • Phone bill
  • Travel expenses

What can you cut out:

  • Branded items
  • Unnecessary items such as alcohol, clothes etc
  • Takeaways (time to use the saucepans…)

Create a budget for each week:

  • After deducting outgoing costs from incoming finances, you can form a weekly budget.
  • Use this for calculating how much you need for food, fuel, and other weekly essentials
  • Any extra can be split into money to save and money to spend. Necessities 


Financial Help

Overdrafts are a wonderful way to ensure you don’t run out of money after the rent is deducted from your account, however it’s worth checking a few bits before diving into it:

  • Check how much you have – some are £2000, some are £500
  • Do you need to pay interest on it?
  • How long do you have to pay it back?
  • Can you apply for more should you need?

This is similar to what applies to credit cards, and it is important that if you use either you fully understand what it involves and any repayments you need to make.

Universities sometimes offer scholarships, bursaries or financial assistance, which can be found on the website, and, should you need them, can help reduce some financial burden whilst also offering advice and support too!


Student Discounts

Most shops, online and offline, will offer student discounts, and getting hold of a student card will save you many pounds over the years. UNiDAYS and Student Beans are two that you can sign up for, along with TOTUM (formally NUS Extra) [although you do need to pay for this one…]. Keep your eyes peeled for coupons from supermarkets and high-street shops too – people often leave them at the self-service checkout in Morrisons…


Job Prospects

At the moment, jobs are few and far between, HOWEVER, the careers team can help boost your CV and polish up those interview skills too. LaunchPad (careers) are online, and can help you find part-time and postgraduate jobs as well! Remember, any income is income, and it won’t be forever!


At the end of the day, your time at university is short, and so it’s important to not get too hung up on financial worries if you can help it. Put some money aside each week or month for yourself, whether that’s for a coffee, a new top or a video game. It’s important you look after yourself and take time to figure out what’s going on.


Useful Contacts

Funding Advice team



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