Managing your money while concentrating on your studies can be difficult, and you may find that you're on a tight budget. Below, we've rounded up some handy tips on how to budget and save money where possible.
Always remember there's help at the University if you need it, so do speak to Student Advice if you're struggling financially.
Visit our other funding options page for information about the many funding options available to you as a student at the University of Westminster.
For help with cost of living impact, check out our financial support for students page.
Student discounts
As a student in London, there are many discounts available to you and many websites with tips and information on saving money and finding the best deals.
Here are some of the most useful websites to get you started:
- Totum Card – this internationally recognised student discount card gives you access to hundreds of discounts in the UK and abroad
- Unidays – discounts on a range of items including clothes, food and technology
- Student Beans – student discounts, offers and voucher codes for shopping online and instore
- Student Money Saver – a blog-style website with information about freebies, discounts and exclusive deals
- Save the Student – tips on how to make your money go further and information on a range of deals and discounts
- Young person's railcard – buy your railcard and get 1/3 off rail travel as a student.
- NHS Low Income scheme – some students may be eligible for help with health costs through the NHS Low Income scheme. Eligibility is based on income rather than student status, and the level of support available depends on your weekly income, essential outgoings, and any savings or investments at the time you apply. The scheme can help with the cost of NHS prescriptions, NHS dental treatment, sight tests, glasses and contact lenses, travel costs for NHS treatment, and NHS wigs and fabric supports.
Student Oyster card
As a full-time student, you can apply for a Student Oyster card, which gives you 30% off your travel in London.
If you're a part-time student, you'll usually not be eligible for a Student Oyster Card, unless you meet specific requirements explained on the TfL website.
Note: When filling in your application, do not include the last number on your student card (only include 8 of the 9 numbers on your student card).
If you're unsure whether you're eligible for a discounted oyster card, please chat with our Student Centre Team, or raise an enquiry on Compass.
16–25 Railcard
With the 16–25 Railcard you can save 1/3 on most train fares across Great Britain, it is perfect for commuting, holidays, or weekend trips; available for ages 16–25 and full-time mature students over 25, it costs £35 for 1 year or £80 for 3 years and usually pays for itself after just a few journeys. You can also link this card to your Student Oyster card if you have one.
Free software
The University provides a wide range of free software to support your studies, including Microsoft 365 and Adobe. You can find more information on the IT Services webpage under Free Software.
Part-time work
As well as earning extra money while you study, part-time work gives you the chance to develop valuable transferable skills that will improve your employability.
You can use Zone29 to get tailored advice and find jobs and experiences.
Temporary and part-time jobs on campus
If you're interested in working at the University during your studies, our Talent Bank scheme allows you to apply for a range of paid temporary and part-time work across our campuses and departments.
Find out more about Talent Bank.
Budgeting
It’s important to create a budget in order to keep track of your money. The best place to start is by keeping an eye on what you spend and what you earn in a normal week or month. Start with your income, and then look at your outgoings. Don’t forget your travel, utility bills and mobile phone.
Doing a budget is not about stopping yourself spending money on the things you enjoy. It's more about making sure you have enough money for all areas of your life and seeing if there are more cost-effective ways to live.
When doing a budget, keep these things in mind:
- Be realistic – it’s unlikely you can only spend 10p a day on food
- Be disciplined – don't throw the budget out of the window on day one. You'll find times when you go over or under your budget. But do your best to stick to it, and you'll reap the rewards
- Be kind to yourself – if you spend more that you should at times that's fine. But keep sticking to a budget as much as you can
- Revise your budget – if you've budgeted for something you don’t spend money on, adjust it and use that money for something else
- Know yourself – if you like spontaneous buys, budget for that. Set aside some money each week so that you can use to treat yourself
Online tools like this budget calculator from the Money Helper can help you create a budget plan. There are also a number of budgeting apps available to download onto your smart phone.
If you need help managing your money, budgeting or dealing with debt, the Student Advice team can offer support and guidance.
More money tips
Beyond budgeting, here are some more tips that could help you save money:
- There are several food waste Apps where you can pick up reduced priced food that's still in date and is due to be thrown out by shops and restaurants. You can have a look by downloading Olio, Too Good To Go and Karma
- If you're living with flatmates, cook meals for each other, or pool some money to get shared ingredients
- Think about taking in a tea and coffee from home, rather than buying a hot drink every day
- Freezing bread can make it last longer, and you can use to make toast
- Taking a packed lunch in few times a week can cut down your costs on how much you spend on lunch
- When taking a trip to the supermarket, always make list before you shop so that you get the things you need to buy and don’t get seduced by the offers available as you pass every aisle
- Check out the value brands when food shopping and see if you can notice a difference in taste or flavour. If you can’t, stick with the cheaper option. Look for yellow stickers to see what items are reduced