Sat, 20 Sep 2025

Sat, 20 Sep 2025 Students 'overwhelmed' by managing finances

The average London student spends £1,269 per month on basics like rent and food, data suggests.
Many students in London struggle with managing their finances, with over half a million students facing difficulties balancing their wants and needs. According to a recent survey, an average student in London spends £1,269 per month on basic necessities like rent, bills, and food. Students are also concerned about transportation costs, as the Tube network is one of the most expensive in the world. Some students use budgeting tips such as using Student Oyster Cards, traveling during off-peak hours, or finding part-time jobs to supplement their income. A study by Visa found that 84% of London students feel overwhelmed by managing their money, and many rely on financial assistance from their universities. The University of East London (UEL) provides over £7m in bursaries and hardship funds each year, as well as running financial literacy courses. Many students work part-time jobs to support themselves while studying, with over two-thirds of full-time students now working during term time. Some use apps like Nectar card or Clubcard to accumulate money-saving points, while others look for discounts online or resell items on platforms. Experts recommend that students research the best bank account for them, use websites like Unidays for discounts, and ensure tenancy deposits are protected. By using these budgeting tips and taking advantage of financial assistance programs, students can better manage their finances and reduce stress during their studies.
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