Starting uni is a huge milestone - new friends, new freedom - and for many of us, our first real budget. Between rent, the food shop, textbooks, and the occasional cheeky night out, money can disappear fast. But don’t worry, we’ve got you.
Here’s a quick guide to staying on top of your finances at Swansea and making your money stretch a little further.
Why Budgeting Matters (Especially Now)
The cost of living is no joke. In 2024, the average UK student spent £1,100 per month, and nearly three-quarters reported struggling to keep up with costs (Save the Student).
What does this mean? Well, you’re not alone, and you don’t need to figure it out solo. A good budget doesn’t just help you survive uni - it helps you to enjoy it.
Step One: Know Your Income & Costs
Start by writing down:
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Your income (student loan, part-time job, bank of mum and dad)
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Fixed costs (rent, bills, transport)
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Flexible costs (food, nights out, shopping)
There are free tools to make this easy. Try the UCAS Budget Calculator or MoneyHelper Student Budgeting Tips.
Swansea tip: Look into Swansea University's Money@CampusLife team - they offer budgeting sessions and hardship support if you’re struggling
Step Two: Smart Spending Without FOMO
It’s easy to overspend during Freshers’ Week. But once your overdraft starts looking more “uh-oh” than “oh well,” it’s time to be smart.
Try:
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Meal prepping instead of constant takeaways
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Splitwise to track group spending with housemates
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Too Good To Go for discounted food from Swansea cafes
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Grabbing student discounts with apps like UNiDAYS, Student Beans & Totum
Bonus: Get a student railcard if you’re heading home - it’ll save you 1/3 off train fares
Step Three: Use the Right Tools
Money can feel overwhelming, but the right tools make a difference. Here are a few worth downloading:
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Emma: links your accounts and tracks subscriptions you’ve forgotten about
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Monzo or Starling: digital banks with spending categories, instant balance updates
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Snoop: tracks your spending and finds better deals for bills
Real Talk: What Students Struggle With
Here’s what most first years say are their biggest challenges:
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Forgetting how quickly rent, utilities & course costs add up
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Impulse spending after loan day
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Feeling awkward talking about money
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Not knowing what help is out there
Don’t sit in silence - your SU is here to support you.
Financial Health = Mental Health
Stressing about money? You're not the only one.
Over 54% of students say financial pressure affects their mental health. It can impact sleep, grades, and relationships.
Your Students' Union Advice and Support Centre offer confidential chats if you need someone to talk to.
Your Next Step
Budgeting might not sound exciting, but here’s the truth: it’s freedom. It means knowing what you can afford, avoiding nasty surprises, and saying “yes” to the things that actually matter.
Start now. Even a simple spreadsheet or free app can make all the difference.