Budgeting tips to get you through

Residence Life Leicester

Posted 16 hours ago

Fri 06 Nov, 2026 12:11 AM

Our top tips to help you with the cost of living!

Life as a student can be expensive. Between purchasing your weekly food shop, treating yourself to a coffee between lectures and going out on the weekends, checking your bank balance can feel stressful.

It's completely normal to feel overwhelmed by managing your own money for the first time while trying to actually enjoy your student experience.

To help you manage your money, here are our top tips on saving more and spending less!

1. Create a budget for yourself

We know it sounds obvious, but if you're actually setting yourself a budget, you can remove some of the spending guilt. When your loan and wages come through, prioritise your rent, bills, food shop and travel money and then transfer however much you'd like to your savings. Set an amount of money in your account per month to spend guilt-free.

It's almost like giving yourself an allowance each month. Pick a day each month when you can withdraw your monthly/weekly allowance and spend guilt-free!

2. More cooking, less eating out!

Eating out is brilliant, especially when you've been studying all day. But it's also a danger to your bank balance. Of course, as a treat, it's perfectly fine! But taking the time to learn to cook properly will save you so much money.

If you know you've got a busy week ahead, you can also meal prep one night, portion your food into containers and leave a couple in the fridge and the rest in the freezer. That way, you're saving money and your own energy after a long day.

Cooking meals from scratch is also a lot cheaper than buying ready meals (and a lot healthier). Shop at places like ASDA or ALDI, as they're the cheapest supermarkets around The City and The Village. Branded food is also more expensive than own brands, so it's always best to stick to shop-branded items.

a man and woman cooking food in a kitchen

3. Go through your outgoing bills

Cutting down on what's actually going out of your account each month will save you a lot of money long term. It's a good idea to block out some time in your day and do a bit of life admin. Chances are you'll find a few subscriptions you've forgotten about.

It also helps with things like your phone or SIM contract. It's best to check what comes into the price you're paying, whether it's only data or if you have a package deal. For example, with Vodafone you can get a Spotify subscription, but is it actually worth the price you're paying?

Have a look at Money Saving Expert on their SIM comparison page and general money advice.

4. Charity shopping

Everybody's favourite! If your budget doesn't have enough room for your usual retail therapy, check out charity shops near you. It's the best option when you need to upgrade your wardrobe on a budget.

5. On-campus events

Make the most of our events! Our Residential Life team have lots on offer, and the majority of them are free! For example, you can attend a free sip and paint, crafting and Lego sessions and even free movie and games nights.

We hope you have found these tips useful. We understand that the cost of living is a struggle for a lot of people, especially students. If you are struggling with your finances or it's having an impact on your mental health, we are here to support you.