Smart Budgeting Tips for International Students in the UK
Moving to the UK for your studies is exciting, but managing your money can be a challenge—especially if you're living away from home for the first time. A good budget will help you avoid stress and enjoy your time as a student. Here are some simple tips to help you manage your money wisely:
1. Track Your Spending
Before you can plan your budget, you need to know where your money is going. Use a budgeting app or a simple notebook to write down all your expenses. Divide your spending into essential costs (rent, food, transport, and bills) and non-essential costs (entertainment, shopping, and eating out). This will help you prioritise necessary expenses and cut back where needed. You can also use budgeting spreadsheets to keep track of your spending. For more budgeting tools and tips, check out the Money Saving Expert Student Budgeting Planner.
2. Set a Weekly Allowance
Instead of spending all your money at the start of the month, break it down into a weekly budget. This way, you won’t run out of money before the end of the month. Keep some extra savings for emergencies.
3. Take Advantage of Student Discounts
Being a student in the UK comes with many benefits! Always check for student discounts on transport, shopping, restaurants, and entertainment. Websites like UNiDAYS and Student Beans offer great deals for students. Some banks also offer special student accounts with perks like free railcards, so it’s worth comparing options before opening an account.
4. Cook at Home and Meal Prep
Eating out can be expensive. Save money by cooking at home and preparing your meals in advance. Buying groceries in bulk and planning your meals for the week can help you stick to your budget. Many supermarkets offer Club Card or Loyalty Card that gives you discounts, special deals, and rewards—signing up for these can help you save even more. Also, look for supermarket own-brand products, which are often cheaper than big-name brands but just as good.
5. Use Public Transport Wisely
Taxis and Ubers can be costly. Get a Student Travel Card or a Railcard for discounts on buses and trains. Walking and cycling are also great ways to save money while staying active. If you travel frequently, consider monthly or termly travel passes, which can be more cost-effective.
6. Find Affordable Accommodation
Rent is one of the biggest expenses for students. Consider shared housing or university accommodation to save money. Always compare prices and check for bills included in the rent to avoid hidden costs. Websites like SpareRoom can help you find shared accommodation options at reasonable prices. If you’re living in a rented house, keep an eye on utility bills and consider splitting costs with housemates using bill-sharing apps.
7. Look for Part-Time Jobs
If your visa allows it, a part-time job can help you cover expenses and gain work experience. Universities often have job boards, and many employers offer flexible hours for students. You can also check GIG, the app to find flexible shift work. It offers part-time and full-time hours with the freedom to choose where and how you work.
Budgeting as an international student doesn’t have to be difficult. With a little planning and smart spending, you can make your money last and still enjoy student life in the UK. Start small, be consistent, and make adjustments as needed.
