Managing your money at university

By Erin Malik, August 2025

Hey! I’m Erin, a Law student going into my third year at Lancaster University. Moving away from home and living independently can be extremely daunting, especially when it comes to financing your life alongside your studies. Especially for those on the minimum student loan, university can be a challenging time. However, life at Lancaster is a lot more affordable than many cities, and this blog aims to show you that you can enjoy your time at university, even on a limited budget.

Part-time work

A great way to earn money while at Lancaster is through its flexible and supportive Employment and Recruitment Service (ERS) which allows you to take part-time work in the university. University employment ranges from digital student ambassadors to bar staff and open day representatives. The best part of the ERS is that they completely understand external pressures that students face and, thus, they always aim to adapt to your university timetable and make sure that your degree takes priority!

Budgeting

Once you know your entire income to get you through the year, many students find it beneficial to budget each week so they know how much they can spend in order to avoid going into their dreaded overdraft. Software programmes such as Notion can create a budgeting table where you can easily input your outgoings each week and see how much you have left for other activities. If you know there’s a big event coming up, it’s also easy to track how much you get to save each week for a big splash out!

Food shopping

The most essential way you’ll spend your money at university is buying food. The best way to save money when food shopping is, simply, going to the cheapest supermarket. Aldi is only a 15 minute bus ride away from campus and is super affordable (and good quality!). As well as this, when it comes to your weekly shop, planning ahead on what you’re going to buy and meal prepping can be a great way to save money. Your freezer drawer might just become your best friend! For example, it’s super easy to make a big batch of pasta sauce and then freeze it for a later date.

Student discounts

Student discounts are available all over in Lancaster! Lancaster is a very student-focused city, where many establishments aim to have a cheaper option for students as they understand financial pressures that we can be under! From shops, to restaurants and cafes, apps such as Student Beans and Unidays are essential for students. Even for online shopping, big brands almost always have student discounts. Remember, everything adds up! Saving a few pounds here and there really makes all the difference in the long run.

Saying no!

Finally, it’s so important to remember that you can just say no! If money is especially tight and your friends ask you to do an expensive activity (e.g. go for a meal, day trip, or night out), there’s always the option to just turn it down! All university students understand the financial difficulties we all go through.

Overall, there are so many ways to effectively manage your budget at Lancaster University. Not only does the university provide some excellent scholarships, bursaries, and funding schemes to assist with university life, the cost of living in Lancaster is generally lower than the national average, meaning it’s a perfect place to study and live.