Finance

The University has teamed up with Blackbullion to help students build confidence with money, create a budget, and develop financial skills that can be used during university and beyond.

Budgeting looks different for everyone. Some students are managing money independently for the first time. Some are returning to study with rent, mortgages, children, caring responsibilities, work, travel costs, or existing financial commitments. Here are some SU tips to help you make a plan that fits your life.

1. Start with what money you have coming in

   Write down what money you expect to receive and when. This might include student finance, wages, bursaries, benefits, scholarships, savings, family support, or other income.

   Student finance often arrives in larger payments, while rent, bills, food and travel usually leave your account more regularly. Breaking your money down by month or week can make it easier to manage.

2. Put essentials first

   Before spending on other things, set aside money for essentials. This might include:

   • rent or housing costs
   • bills
   • food
   • travel
   • childcare
   • course costs
   • phone costs
   • insurance
   • debt repayments
   • medication or health costs

   Once you know these are covered, you can see what is left for social plans, hobbies, subscriptions, treats and other flexible spending.

3. Plan for costs that do not happen every week

   Some costs are easy to forget because they only come up now and again. These might include birthdays, religious or cultural celebrations, trips home, placement travel, car repairs, school costs, deposits, graduation costs, replacement equipment, or visa-related costs.

   Putting a small amount aside when you can may help reduce the pressure when these costs come up.

4. Check your travel options

   Travel can take a big part of a student budget, especially if you commute or travel between campuses, placements, work and home.

   Check whether you could save money through:

   • railcards
   • student bus tickets
   • termly or annual travel passes
   • local bus operator tickets
   • walking or cycling for shorter journeys
   • car sharing where safe and practical
   • planning travel around off-peak fares

   For students in Preston, it is worth checking current offers from providers such as Stagecoach and Preston Bus. Always check the current price and terms before buying.

5. Use student discounts carefully

   Student discounts can help, but they only save money if you were already planning to buy the item. Check options such as TOTUM, UNiDAYS, Student Beans, railcards, supermarket loyalty schemes, and local student offers.

6. Review your regular payments

   Small payments can add up quickly. Check your subscriptions, app payments, memberships, storage plans, streaming services, delivery passes and free trials.

   Cancel anything you do not use or no longer need. It is also worth checking whether you are paying monthly for something that would be cheaper annually, or whether a family, household or student plan would work better.

7. Compare bills and contracts

   If you pay for utilities, broadband, insurance, phone contracts or other household costs, compare prices before renewing. Money Saving Expert has useful guidance on areas such as energy, mobiles, broadband, banking and borrowing.

   If you live with other people, agree how bills will be split and paid. Clear arrangements at the start can prevent awkward conversations later.

8. Make food work for your routine

   Food budgets depend on your life. Cooking for one, feeding a family, commuting, working shifts, managing dietary needs, or sharing a kitchen can all change what works.

   You could try:

   • planning a few meals before shopping
   • using frozen or tinned ingredients
   • batch cooking when you have time
   • taking food with you on campus days
   • checking reduced sections
   • sharing basics with housemates where appropriate
   • using supermarket loyalty schemes

   The best food budget is one you can actually keep using.

9. Check what support you can access

   You may be eligible for support that you have not used before. This could include bursaries, scholarships, hardship funds, Disabled Students’ Allowance, childcare support, benefits advice, estranged student support, care-experienced student support, commuter support, or support linked to placements.

   If you are unsure, ask. You do not need to wait until things feel unmanageable.

10. Get advice early if money becomes difficult

    If you are falling behind on rent, bills, overdrafts, credit cards, buy-now-pay-later payments, childcare costs or other debts, get advice as soon as you can.

    You can speak to the University Money Advice and Support team, National Debtline,The Money Advice Service, StepChange, or another trusted free financial advice provider.

    Money worries are common at university. Getting support early usually gives you more options.