Managing your money

Take control of your finances. Get support and advice on managing your money whilst studying.

We've put together some useful tips and resources to get you started.

Make your money last all term

If you receive a maintenance loan, this will be paid in three equal instalments, at the start of each term. It can be difficult to manage a lump sum of money across four months.

Here are a few suggestions on how to make your money last until your next instalment:

  • To give yourself a weekly budget, divide each term's income across the number of weeks it needs to last.
  • Set up a second bank account and transfer yourself a weekly or monthly amount so you are not in danger of overspending.
  • Create a budget plan, detailing how much you will spend on each living cost and track your spending as you go.

Create a budget

Here's how to create a budget in three easy steps.

  1. What income do you have? How much is it and when do you receive it?
  2. What expenses do you have? Remember to include small costs as these will add up.
  3. Calculate your budget by removing your expenses from your income.

Remember to track your spending each week or month and update your budget throughout the term.

If you would like any support completing a budget, even before you arrive at NTU, contact our Student Financial Support team.

Use our budget worksheet for an easy way to plan your budget over the whole year.

Download the budget worksheet

Money management workshops

The Student Financial Support team run virtual 30 minute sessions on Wednesdays at 2pm.

The sessions will help you take control of your finances and feel more confident about managing your money.

We'll take a look at how financial stress effects students and why. You'll also pick up some useful resources and find out what support is available while studying at NTU.

Sign up for a workshop

Increase your income

As a student, you might have income from a variety of different sources at different times throughout the year. Be clear on what you will receive and when.

Check you are receiving all the money you are entitled to from your student loan provider and any NTU bursaries.

Benefit entitlement

In some circumstances you may be eligible for more benefits, for example if you have children or a disability.

Check you benefit eligibility using Turn2us. Or book an appointment to speak to one of our Financial Support advisers.

Part time work

Many students choose to work part-time while studying.

Employment will not only boost your income but it will provide valuable experience to put on your CV.

NTU jobshop can help you find a job and assist with the application process.

Sign-up to Unitemps to find opportunities within NTU (e.g. student ambassador) which can fit around your studies.

Tracking your costs

Some of your costs will be fixed and some will be variable. If you are trying to reduce your expenditure, think about what you can realistically change.

It can be difficult to keep track of where your money is going so get into the habit of tracking your spending. At the end of each week or month, make a note of what you have spent money on. Be sure to track even small purchases as these will add up. Having a clear picture of what you have spent money on, will help you to see where you might be able to reduce your costs.

Remember to prioritise your costs, leaving yourself with enough money for essentials such as food.

Money saving tips

We asked our current NTU students for their money saving tips and advice.

  • Meal prep – cooking in bulk and putting portions in the fridge/freezer will not only save you money but also time.
  • Ditch the takeaways and cook with your flatmates instead. Check out these easy student recipes.
  • Take lunch with you to uni and try to avoid those tempting coffees.
  • Be mindful of needs vs wants when shopping.
  • When online shopping, leave clothes in your basket for a couple of days, come back and see if you still ‘need’ that pair of trainers.
  • FOMO (Fear of Missing Out) is real. If you can’t afford it, say so. You won’t be the only one who is living on a budget! Make fun, free plans with friends instead.
  • Check the library before buying books. If you do need to buy a book, always search for a second-hand copy.
  • Use a student discount wherever possible – but don’t get sucked in by unnecessary purchases!

Choosing your next accommodation

You might be tied into a contract now, but think carefully before you get into another.

How much can you realistically afford to spend on rent? Use a budget worksheet to help you work this out.

Check whether your rent will be due monthly or by term. Think about how you are going to pay for this before signing a contract.

If you need any housing advice, our Students Union housing advice service is the place find lots of useful information, you can even book an appointment to speak to one of their specialist advisers.

If you are a care leaver, take a look at the accommodation options support NTU offer over summer and in your second and final year.


Blackbullion is an online learning platform designed to help you get confident about your finances.

As an NTU student you can sign up for free.

Blackbullion has personal finance courses, articles, videos and quizzes, covering:

  • budgeting
  • saving
  • credit cards
  • taxes
  • pensions
  • investments.
Visit Blackbullion and sign up
  • Last updated: 19/10/2020