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Managing your money - top tips

We have put together this information to help you manage your money and work out a budget plan.

1. Spend time planning and preparing a budget

Prepare a plan to help you understand how much you can afford to spend per week and avoid overspending. 

2. Keep track of your spending

Keep a spending diary. This will give you an idea of just how much money you are actually spending and will help you to identify unneccessary spending which could help your budget

3. Maximise your income

Make sure you are in receipt of the full amount of financial support available to you. Find out how the university can help you with your student finance application. Consider a part time job - it will not only boost your income but it's good for your CV too! Check out the Student Union jobs board

4. Reduce your expenditure

  • Avoid purchasing unnecessary items - if you are paying for a service you are not using - cancel it
  • Full-time students are usually exempt from paying council tax, seek advice now if you are currently paying any
  • Arrange your TV licence with your house mates, better still - if you don't watch or record TV as it is being broadcast you probably don't need one, consider a streaming service instead
  • Don't smoke - despite being bad for your health, it is a very expensive habit
  • Stop buying that daily cup of coffee! Did you know that you can pay as little as 10p for a cup of hot water from on campus coffee outlets? Bring your own coffee & just pay for the cup of water if you desperately need that caffiene fix

5. Setup standing orders or direct debits

This can help if you plan to make consistent regular payments - you won't have to worry about missing a date.

6. Watch out for credit cards & short term loans

You will be offered credit cards, store cards and a student overdraft but think carefully before accepting them. If you need to borrow money only use interest-free facilities.

High-street banks are all keen to have your business but don’t be fooled by the free gifts on offer – look at the level of support each bank offers instead.

There is no such thing as a 'Student Friendly' short term loan! You may find short-term loan organisations who market their services sspecifically at students but these should always be avoided. If you need help, contact Student Funding and Financial Support in the first instance

7. Plan ahead

For extra expenditure such as start of term costs, special occasions and birthdays. Include these within your budget & remember to be realistic with the amount that you can afford to spend on gifts

8. Leave your debit/credit card at home 

This will help you visualise the amount of money that you are spending. Physically handing over cash has feels far more 'real' than waving your card in front of that contactless card reader!

Only withdraw the amount of money that you have budgeted for the current week to make sure that you don't overspend

Help on campus

The Student Funding and Financial Support team are based in Hutton Hub  and offer guidance, workshops, drop-in sessions and financial support all year round


Blackbullion is a financial e-learning tool with the aim to provide you with money management skills for life. All University of Hertfordshire students can access the platform for free. 

See the Blackbullion page on Ask Herts for more information. 

Contact Us

Student Funding and Financial Support

Student Finance

Today 09:00 - 16:00
Offering guidance and support to our Student Loans Company (SLC) funded students.
Hutton Hub, College Lane
Today 09:00 - 16:00
Offering financial support to students, such as the Hardship Fund, Blackbullion and Money Management Workshops
Hutton Hub, College Lane