National Student Money Week Guide 2025: Essential Financial Tips for Students

Student Money Guide: Your Financial Resilience Kit

Managing your money as a student can feel overwhelming, but with the right tools and advice, you can take control of your finances and stress less. Whether you're opening your first bank account, stretching your student loan, or looking for ways to earn some extra income, then this guide has you covered!

Opening A Student Bank Account

If you’re heading off to university, one of the first things you’ll need is a student bank account! Luckily, many banks offer benefits like interest-free overdrafts, railcards, and even cashback, so make sure you shop around. When choosing a bank account, here are some things to consider:

• Overdrafts - Some banks offer higher interest-free overdrafts than others, but remember, this isn’t free money!

• Benefits - Some accounts come with freebies like a 16-25 Railcard or cashback, which can go a long way towards your travel and weekly food shops.

• Accessibility - Make sure your chosen bank has a mobile app for on-the-go access and good customer support.

TOTUM’s top tip: You can compare student bank accounts using an online comparison tool and always read the fine print before signing up - and don't forget to check out our guide on The Best Student Bank Accounts in 2025.

Managing Money As A Student

Uni is usually your first time having financial independence and it's easy to overspend! Remember these key areas to stay on top of your finances:

• Create a budget - List your income (student loan, grants, part-time work) and essential expenses (rent, food, bills) to keep you accountable.

• Use budgeting apps - Apps like Monzo, Revolut, or Yolt can track your spending and even help you set budgets.

• Plan ahead - If possible try and regularly save money for big costs like rent, as this can help you feel less stressed when bills are due.

TOTUM’s top tip: Avoid loans and loan sharks at all costs (except your student loan!), as they charge higher fees that can quickly add up.

Building Financial Resilience As A Student

Financial resilience means being prepared for unexpected costs, so you aren’t left struggling. Here’s how to build a financial safety net on a student budget:

• Start an emergency fund - Even saving a small amount each month can help if you ever find yourself with a surprise bill.

• Take advantage of student discounts - TOTUM+ gives you access to hundreds of discounts, offers & giveaways to help stretch your budget.

• Avoid unnecessary debt - Credit cards and payday loans might seem like quick fixes, but they often lead to long-term debt issues.

TOTUM’s top tip: A little planning and saving, is often all you need to help you feel financially secure as a student.

Balancing Your Student Loan

Making your student loan last the whole term is key! Here are just a few ways to manage a student budget:

• Prioritise your expenses - Remember, rent, bills, and food first. Nights out and shopping second! It can help to split your money, using apps like Monzo, so you can enjoy guilt-free spending.

• Look for student discounts - From supermarket discounts to cashback offers, most places offer student discounts for you to take advantage of!

• Consider splitting payments - If possible, speak to your landlord about paying rent in manageable instalments rather than all at once.

TOTUM’s top tip: If you're struggling, you can always reach out to your uni’s student support services.

Getting A Part-Time Job

A part-time job is a great way to boost your income, gain experience, and meet new people! Here are some things to keep in mind:

• Look for flexible work - Tutoring and remote freelancing can easily fit around your studies if you’re looking for a student side hustle.

• Check your university's job board - Many universities offer student-friendly roles with fair pay.

• Be mindful of your workload - Try not to work more than 15 hours a week to avoid affecting your studies – look for part-time student roles instead.

TOTUM’s top tip: Securing a summer job can be a great way of easing financial stress without a long-term commitment.

Final Thoughts For Students

National Student Money Week is a great time to reflect on your finances and plan for the future! But, remember we're here for you all year round with ideas to stay on top of your budget, student discounts, advice, and much more. Join TOTUM+ today to start saving around £550 per year.

Final Thoughts For Educators

Calling further education staff, student money advisers, and higher education administrators! Make sure you check out NASMA (National Association of Student Money Advisers), a professional membership association that can help you support your students with advice and events around money management.