Running out of money while at university? Here’s what to do

Photo credit: Unsplash

As reported by the Save the Student’s recent National Student Money Survey, 78% of students experience financial stress.


Many students run out of funds while studying. A new research study has revealed that 11% of students spend most of their student loan within the first two weeks of term and more than 50% spend it all before the term ends.

Here are some steps and solutions that will help you get through your financial difficulties.


  1. Control your spending: You can’t stop spending completely, as you need to pay for the essentials – accommodation, food and bills. But, you can make cutbacks and seek cheaper alternatives. Small changes make big differences. Why not try cooking with your housemates instead of getting takeaways?
  2. Learn new techniques to save money: Make a monthly or weekly budget. This will help to cut out any extra spendings. Consider a part-time job that won’t affect your studies. Retail and freelance work are great options for students as they have flexible working hours. If you already have one, getting extra shifts may help.

    Photo credit: Unsplash


  3. Borrow carefully: You may reach this point to get by, so make your choice wisely. Family or university loans are safe. Good friends can help too. This will ease some of the money worries.
  4. Staying social: There are many events, meet-ups, volunteer opportunities, and sports events you can go to that are free of charge. Having little or no money has a tendency to make you feel isolated and alone, so you should make the effort in finding opportunities to socialise that don’t break the bank. 
  5. Talk to people: Get in touch with the right people to help you cope. If you have a university student money advisor, give them a visit. Ask them about specialist support, budgets and hardship funds. Look for scholarships, grants and bursaries, they are worth checking out. Talk to your personal tutor, keep them informed and updated on your situation as they might be able to advise you. Ask your family for support and advice or talk to Samaritans. Talking about it helps relieves stress.


Don’t let money problems get you down. This can take a serious toll on your mental health. Remember, there are always solutions, and don’t forget to speak to someone.


Words: Duha Ali | Subbing: Sorcha Gilheany

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