Managing your money at university can take some getting used to. Whether you’re working out how to make your student finance last, keeping track of your weekly spending or trying to understand your tenancy agreement, there are tools and support available to help.

You don’t need to have everything figured out straight away. A few simple habits can make it easier to keep track of your money and understand what support is available if things become difficult.

Start with a budget

A budget is simply a way of keeping track of the money you have coming in and what you need to spend.

Start by working out your regular income. This could include your student finance, wages from part-time work, scholarships, bursaries or other payments.

Once you know your essential costs, you can see what you have left for everything else. You could then break this down into a weekly amount to make it easier to keep track of your spending.

Keep an eye on your spending

You don’t need to completely cut out the things you enjoy to manage your money. The aim is to understand where your money is going so you can make informed choices.

Try checking your bank account regularly and keeping track of smaller purchases. A coffee here, a takeaway there or a few extra trips to the shops can quickly add up.

You could use a budgeting app, a spreadsheet or a simple notes document on your phone. Find a method that works for you and that you’re likely to keep using.

What if you’re struggling financially?

If you’re worried about money, you don’t have to wait until things become serious before asking for help.

There may be support available through the University, the Students’ Union and external organisations. If you’re struggling to pay for essentials or are worried about keeping up with your rent or bills, getting advice early can help you understand your options.

Renting a home?

If you’re living in private rented accommodation, it’s important to understand your tenancy agreement and your rights and responsibilities as a tenant.

In England, private tenants have rights including the right to live in a property that is safe and in a good state of repair, to have their deposit returned at the end of their tenancy in the appropriate circumstances and to live in their property without unreasonable disturbance.

Know your renters’ rights

The rules around private renting in England changed on 1 May 2026 following the introduction of the Renters’ Rights Act.

Most existing assured shorthold tenancies automatically became assured periodic tenancies on 1 May 2026. New private tenancies agreed from this date are also generally assured periodic tenancies.

Section 21 ‘no fault’ eviction notices can no longer be used for these private rented tenancies. If a landlord wants to recover possession of a property, they must use one of the legal grounds and follow the correct process.

The rules can depend on the type of accommodation you live in. Different rules apply to some students living in halls of residence, lodgers and other types of tenancy.

Understand your deposit

If you rent privately in England, your landlord may need to protect your tenancy deposit using a government-approved tenancy deposit protection scheme.

For assured periodic tenancies, the maximum tenancy deposit is generally five weeks’ rent where the annual rent is below £50,000, or six weeks’ rent where the annual rent is £50,000 or more.

Your landlord or letting agent must keep your deposit safe using a government-approved scheme where the rules require this. If you have a dispute about your deposit at the end of your tenancy, the relevant protection scheme can provide a process for resolving it.

Know who is responsible for repairs

Your landlord is generally responsible for repairs to the structure and exterior of the property, heating and hot water, plumbing and electrical wiring, as well as certain other areas and installations.

If something needs repairing, report it to your landlord or letting agent as soon as possible. Keep a written record of what you reported and when you reported it.

You should continue to pay your rent while waiting for repairs unless you have received specific advice telling you otherwise.

If repairs are not being dealt with, you can seek further advice and, where appropriate, contact your local council about serious hazards or problems with the property.

Budgeting and renting go hand in hand

For many students, rent is one of their biggest regular expenses. When you’re working out your budget, make sure you know exactly how much your rent is and whether bills such as energy, water, internet or council tax are included.

If you live with other people, agree how you’ll split shared costs and keep track of who has paid. Having clear arrangements from the start can help avoid disagreements later.

If you’re worried that you won’t be able to make a rent payment, speak to your landlord or letting agent where appropriate and get independent advice as early as possible.

Make your money go further

Get support from the Students’ Union

You don’t have to work out your finances, accommodation or tenancy rights on your own.

The Students’ Union Advice Centre provides free, confidential and independent advice to students. If you’re unsure about your tenancy, worried about money or simply don’t know where to start, get in touch with the Advice Centre.

They can help you understand your situation, explain your options and point you towards further support where appropriate.

Useful places to get help

Important: Renters’ rights can depend on your type of accommodation and tenancy. The information in this blog is intended as a general guide and should not replace individual advice.