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LLB student Marjaan shares their top tips for managing your money at university and staying aware of your finances while still enjoying all that university life has to offer.   

For many of us, starting university marks the beginning of our financial independence. It can be tricky to get the hang of, but if you start planning early and get ahead, you’ll be an expert at managing your money.  

To get you started, here are a few tips on how to budget the right way and make the most of your student experience.  

Tip 1: Start tracking your finances and build a budget 

The best thing to do when starting to budget is to make an Excel spreadsheet to track all your incoming and outgoing payments. This includes your loans, salary, bills, and general spending. Tracking your finances will help you figure out whether you need to make any changes to your spending habits. 

Once you have a record of your cash flow, you can use ChatGPT to help you make a budget based on your spending goals and allowance. This useful guide outlines how to get started with creating your very own budget using the AI software. 

Tip 2: Supporting your income with a part-time job 

Student Finance England offers both Tuition Fees and Maintenance Loans to eligible students. While this money may help to support you during your studies, you may also need to get a part-time job to top up your financial reserves.  

 
Having a part-time job is very common at university. In fact, a BBC study from 2023 showed that 55% of students work part-time during university. Working part-time is a great way to get some extra income while providing you with valuable skills to add to your CV. 

Most universities offer part-time roles that allow you to work on campus and are flexible around your studies. At SOAS, we offer Student Ambassador roles that allow students to represent the university at open days and other events, and ambassadors can easily sign up for opportunities that fit around their timetables.  

SOAS’s Careers Service regularly advertises available part-time jobs and offers a range of career support.

Other part-time roles to consider applying for include retail, hospitality, or tutoring. SOAS’s Careers Service regularly advertises available part-time jobs and offers a range of career support, including guidance on CVs and applications, interview coaching, career planning, and skills development. 

Tip 3: Sign up for student perks 

As a student, you have access to a large range of student retail discounts available on Student Beans and UNiDAYS. You can also register for a 16-25 or 26-30 Railcard and apply it to your Oyster card to receive instant discounts on London Underground transport. 

Many companies provide discounts and perks for students or people under 25, so make sure to do your research and get those savings. 

Tip 4: Make the most of SOAS support services 

SOAS provides various financial advice services to help students manage their money. If you're struggling, you can reach out to the Student Advice Service for free and confidential financial advice, whether you’re an applicant or a current student. 

We also offer an array of scholarships, bursaries and awards, including hardship funds, to those experiencing financial difficulties or who require monetary assistance.  

Budgeting can be tough, but you can access a range of financial support provided by SOAS, so please reach out and ask for help if you need it. By using the resources available and following these budgeting tips, you can make the most of your time at SOAS without stretching your finances. 

Header image credit: Insung Yoon via Unsplash.