Financially, being a student can be pretty tricky. Money comes in and out at different times, and the last thing you want to do is pay attention to it. But it doesn’t have to be tricky, just follow these simple rules for keeping your finances healthy throughout university.


Get a part-time job

While you’re a student, it’s usually advised that you work in employment for no more than 16 hours a week, so that it doesn’t interfere with your studies. But even 16 hours a week at minimum wage is a little over £100 that you wouldn’t otherwise have. This could pay for your food and a couple of nights out, with a little bit to spare too, and you’ve got the experience to put on your CV.

Keep in touch with your bank

You will want to ensure that you’re getting the best deal you can from your bank account and that you’re not paying any unnecessary fees. Make sure you have a student account with whichever bank you choose, as they tend to be a lot more forgiving on overdraft fees. Click here for the Natwest contact details and contact them today to check you’re getting the best deal.

Use your discounts

To guarantee student custom, many companies offer fairly substantial student discounts, as long as you can show your student card. So when you’re next out shopping, make sure you ask for this at the checkout.

Keep an eye on your income tax

If you do have a part-time job, make sure you’re not paying over the odds on your tax contributions. Yes, you’ll be entitled to the repayment, but it can take a couple of years, so it’s worth making sure you’re on the correct tax code right away.

Stay out of your overdraft

An overdraft isn’t free money, as much as it might initially appear. If you have to dip into it occasionally, make sure you pay it off completely at the end of the month. Your credit score will be affected long term if you make too much use of it, as this technically constitutes being lent money by your bank.

Be aware of your money

Keep up to date with your finances by checking your balance at least weekly. Make sure you keep a calendar or diary of any outgoings you may have, including mobile phone bills, rent, utilities, or any other direct debits and standing orders. You don’t want to be caught out by not having enough in your account. It’s useful to keep a small amount of money in a savings account that can be used to pay bills when your current account looks a bit meagre.


You might not be earning much (or anything) more than your student loan, but it’s important that you put some of it away. When your loan comes in, don’t get excited and spend it all on a huge blowout, as you’ll soon come to regret it. Keep some of it back for trips, bills, and even Christmas gifts. It’s important that you live within your means, which is hard to do when money only comes into your account every four months. So keep it safe in a savings account, earn a bit of interest on it, and deposit small amounts into your current account on a monthly basis.

Good luck!

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