Money Saving Tips for Your First Term at University | Student Guide

Starting university is one of the most exciting milestones in life!

New friends, new city, newfound independence. And for many, this is the first time managing your own money.

The first term can be considerably more expensive with freshers’ week, accommodation deposits, buying textbooks, kitting out your student room, and simply finding your feet. 

Without a plan, it’s easy to burn through your loan or savings before the term is over.

To help you stay on top of your finances, here are some practical money-saving tips for your first term at university.

1. Create a student budget (and actually stick to it)

It sounds boring, but budgeting will be your best friend at uni (and beyond). Start by writing down:

• Your income (student loan, grants, part-time work, family contributions)
• Your fixed costs (rent, utilities, travel passes, insurance)
• Your flexible spending (food, nights out, books, clothes, subscriptions)

Once you know what’s left after essentials, you can decide how much you can realistically spend per week. Using a budgeting app makes it easier to track where your money’s going.

2. Save on student accommodation costs

Rent is usually your biggest expense. Before signing a tenancy, check:

• Does the rent include bills (WiFi, gas, electricity, water and laundry)?
• Will you need to split costs with housemates?
• Are you being asked for large upfront payments?

If you’re an international student or don’t have a UK guarantor, some landlords ask for 6–12 months’ rent upfront. This can be financially overwhelming. Services like Housing Hand can act as your guarantor, meaning you only need to pay rent monthly instead of in one big lump sum.

This alone can free up thousands of pounds in your first term.

3. Shop smart for food

Food costs add up quickly, especially if you’re buying takeaways every night. Cooking at home is cheaper (and healthier), but even supermarket shopping can be expensive without a plan.

• Write a weekly meal plan before you shop.
• Buy supermarket own-brands (they’re usually just as good).

• Look into whether your university or managed halls have food banks – you can help yourself to staples for free!
• Share staples like pasta, rice, milk, and bread with housemates and try to take turns cooking with a friend or housemate. This will help you save money and reduce food waste.
• Batch cook meals and traybakes like curry, pasta bake, or chilli and freeze portions.

4. Take advantage of your student discounts

One of the biggest perks of being a student? Discounts.

• For travel, buy a 16–25 railcard or student bus pass. They’ll pay for themselves within a few journeys.
• Get a TOTUM card or UNiDAYS account for deals on food, fashion, travel, and tech.

• Always carry your student ID because many shops and restaurants give 10–20% off.

5. You don’t have to buy every textbook

Course textbooks are known for being expensive. Before you feel the need to splurge on every single one, check these options:

• Use your university library. Many now have digital versions you can borrow online.

• Some managed halls even have shared bookshelves where you can take a textbook left behind by a previous resident. Just remember to pay it forward when you no longer need the book!

• Buy second-hand from older students or websites like AbeBooks.
• Share with classmates or set up a book swap.
• Check if your tutor can recommend free online alternatives.

6. Manage nights out without missing out

Freshers’ week and the first term are packed with social events. It’s easy to blow half your student loan in one month if you’re not careful.

• Set a weekly “going out” budget and stick to it.
• Pre-drink at home (safely!) before heading out.
• Look out for student nights with cheaper entry and drinks deals.
• Not every meet-up has to involve spending suggested movie nights, games, or cooking together. 

If you live in managed halls, there are usually social events organised for free and plenty of cool social spaces to enjoy as part of your rent without spending a penny more

7. Be smart with your subscriptions

Netflix, Spotify, Amazon Prime, Disney+ … it all adds up. In some managed halls, these kinds of subscriptions are available in the cinema rooms, which saves you money and gives you the chance to meet new people over your love of the same box set.

Otherwise you could try:

• Split family or housemate plans to cut costs.
• Check if your uni offers free software. Most provide Microsoft Office 365 and sometimes Adobe products.
• Don’t forget to cancel any free trials before they auto-renew!

8. Take advantage of freebies

Universities are often full of free opportunities:

• Freshers’ fairs often hand out free pizza, discount codes and vouchers.
• Student societies often host events with complimentary food and drink.
• Your uni may offer free gym classes, counselling, or workshops.

And don’t forget, Housing Hand customers have access to a 24/7 virtual GP and wellbeing support.

9. Consider a part-time job or side hustle

If your schedule allows, a part-time job can make a huge difference. Often, students tend to find that shift work can fit their lifestyle better, such as bar work or retail, but tutoring or working for your university could also be good options.

If you’re not keen on a fixed shift, you could try flexible gigs like delivering food, freelance online work, or reselling clothes/textbooks. Even a few hours a week can cover your groceries.

10. Plan for bills and payments

Missing payments can damage your credit score and cause unnecessary stress.

• Set up direct debits for rent, utilities, and other recurring payments, such as subscriptions.
• Use calendar reminders for due dates.
• Keep an emergency fund! Even £100 saved can help if something unexpected comes up.

And remember, if you’re renting privately, ask about permitted payments (the Tenant Fees Act 2019 banned admin and referencing fees). Knowing your rights helps you avoid unfair charges.

Your first term at university is about new experiences, but money worries can quickly put a dampener on things. With smart planning, smart choices, and the proper support, you can stretch your budget further and still enjoy student life to the full.

From budgeting apps and student discounts to guarantor services that make renting fairer, there are plenty of tools designed to help students thrive financially.

Start small, stick to your weekly limits, and remember, saving money now means fewer worries later in the year. And remember, you can always talk to student services if you need financial support. Housing Hand also provides wellbeing support to all guarantor customers for free via the 247 virtual GP and wellbeing service

Need help with a guarantor so you can pay rent monthly? Apply with Housing Hand today