Best student budgeting tools
Use one of the many free budgeting tools available.
Student budgeting spreadsheet
Many students have told us that our student budgeting spreadsheet has been a lifesaver for them at uni.This is ideal if you're not big on maths, as the spreadsheet will do everything for you. Simply plug in all of the money you have coming in each month, then log your expenses in the section below.The spreadsheet will then do the calculations for you and track whether you're living within your means each month.You can budget as you go, but it's also a great tool if you're working out whether your finances are going to fit your future spending. For example, if you're planning for the rest of the uni year or calculating if you can afford a holiday during summer.The aim of the game is to keep your balance (the money that's left after you've accounted for spending) in the black. Ideally, you'll have a few quid left over each month to squirrel away or use to treat yourself.If you find you're overspending or it looks as though your budget won't match your expectations, you'll need to find ways to bring it back in line.Download budget sheet »
Student budgeting apps
Technology has made budgeting easier than ever. New banking apps can help you keep a close eye on your finances at the touch of a button.Apps like Starling Bank and Monzowill group all of your purchases into categories (food, entertainment, etc.) and send you real-time push notifications when you're heading over budget in each area.Some of these apps also have savings features that help you to set aside small amounts of money each week, as well as traditional banking functions like overdrafts, in-credit interest and joint accounts.We've reviewed and ranked the best banking appsso you can see which ones would be most suitable for you.Automatic savings apps and bots are also great tools for putting away some money each week, without even having to think about it.
Student budget calculators
There are dozens of free online budget calculators. They tend to be more simplistic than a spreadsheet and harder to save or edit as you go.We've reviewed some of the better budget calculators and tools in our supporting guide.
Why not give these Budget calculators a try:
The standing order trick
This one isn't so much of a tool, but a super easy and useful trick that could help you save hundreds of pounds a year.The idea revolves around the psychology that you'llonly spend what you can easily access.Here's how to do the standing order trick to help with your budgeting:Step One - When you receive your Student Loan (or any other income stream) into your student bank account, transfer it into a separate current or savings account (free to set up).Step Two - Set up a recurring payment (such as a Direct Debit or standing order) each week to transfer your weekly budget into your normal spending account. This is easy to do with internet banking and will gradually feed the money you need into your account, preventing you from going overboard when you first get paid.Step Three - If you ever need more cash during a week, you can simply transfer some more money manually, but at least you'll be thinking about whether you really need it first. Not only does this give you a (sort of) weekly payday, but it helps to break bad spending habits and ensure your money will last until you're next paid.
How to budget as a university student
Sources
Save the Student
Best student budgeting tools
By Save The Student
Save The Student is the UK's leading student money website, helping you budget your money, make sense of student finance, look for part-time jobs, find extra funding and more. Founded in 2007, the website provides free and impartial guides, tools and verified deals to tackle the real-life money problems students face at university.
