Going to university was without doubt one of the most exciting moments in my life. But alongside the excitement came anxiety, and knowing I would suddenly be responsible for my finances was a huge part of that.
Between my rent, meals, beer and travel, I began spending more money than I ever had before, and I quickly developed bad habits (takeaways and new trainers being the main vices) that meant I was broke by the end of every term.
These experiences are common and, unfortunately, Covid-19 has only worsened the situation for many.
I spoke to four students and recent graduates from a range of backgrounds about their money woes and the advice they would offer to young people heading to university.
Alex Tegene – Physiotherapy, Brunel University, London
Take a year out to save and get qualified in the industry (or an adjacent one) you want to work in, so you have job opportunities beyond working in a pub or restaurant while at university. In my gap year I trained as a swimming instructor and a massage therapist, and also got my driving licence. This meant I could take work at uni that paid well enough that I could cover my living expenses while putting aside half my monthly pay.
My biggest tip would be to value your time – be willing to say no to people when they want you to engage in expensive or time-consuming activities. True friends won’t judge you for occasionally prioritising your finances or your course over yet another night out!
Gem Turner – New media, Leeds
In my experience, disabled people have a lot of expenses to deal with, as well as the standard costs of being a student. It meant I had to be even more savvy with money than most of my friends.
The main aspect for me was constantly having to pay for prescriptions, chair repairs and parts, as well as more expensive student accommodation, as it was the most accessible. It meant having to budget a lot and constantly thinking about what was doable.
I would always (and still do) keep a pot ready for unexpected costs – say if my chair broke down – and make sure I can top it up regularly.
My advice for any future disabled student is to find out what services are available as early as possible. And if there’s any help out there that could save you money, such as Disabled Students’ Allowances (DSAs), don’t be shy to ask for help!
Dani Cugini – English, Cambridge
I was really broke at uni, but I had a few sources of income that kept me in food. I was lucky enough to already have a job that would take me back in the holidays, and I picked up odd jobs during term like doing psychological experiments and working May balls. I knew Cambridge had pretty good hardship funds if I’d got into trouble, but I appreciate that not every student is lucky enough to have this option.
My main advice for students about to start is to have the talk with your parents, and have it as soon and as comprehensively as possible. Asking parents for money is crap, and turning into the kid who only calls your parents to ask for money sucks. Set expectations for how much you need and how much they’ll be able to provide really early on.
Abigail Howe – English, Oxford
Both my elder brother and I are disabled (I have postural orthostatic tachycardia syndrome and Ehlers-Danlos syndrome) so I already knew about some of the financial support available to students.
I found DSAs incredibly helpful – they provided items such as lecture recording software (which I had previously looked at buying independently) as well as a chair suitable for my ergonomic needs. Overall this financial support totalled over £3,000.
Keep your spending organised – ideally all on one card – and review it regularly to see if there are any areas where savings can be made simply. I’m a bit of a spreadsheet fiend, and staying organised and aware of how much you’ve got definitely limits the financial damage you can do.
