Here’s our list of top tips to keeping control of money at University and sticking to a student budget.

When that first student loan payment hits your bank account suddenly everything changes but unfortunately it’s not free cash to splash out with.

Actually make a budget

Obvs. You can’t stick to a budget if you’ve not got one planned. See our student budget guide HERE to get started.

Make your budget realistic

Don’t give yourself a fiver to live on each week. Account for the fact that you will go out a lot and probably will waste cash on far more drinks then you remember, and of course you will have to eat!

Get all the grants, bursaries and scholarships you can

Money may not make you happy but it does make life easier, and as a student the more FREE money you can get the better. Research possible grants, bursaries, scholarships and sponsorships that may be available to you at your chosen University.

Keep your budget up to date

Your budget shouldn’t stay static. Keep it updated with the latest costs you’re paying, especially if bills vary (e.g. gas, electric, etc.) and how much money you may have coming in, such as part time working hours. It’ll leave you with a much better idea of where you actually stand.

Keep track of your spending

On that note, regularly check to see what you’re spending cash on, especially week to week living expenses like shopping. Calculate if you’ll have enough money to cover you until any future payments and if not, CUT BACK NOW!

Cut costs where possible

Make as many savings as you can, even if you don’t need to right away as it’ll help free up more cash down the line if there is any unexpected problems.

Try looking for cheap student books rather than new ones, shop at budget supermarkets and cook student recipes yourself.

Grab all the freebies you can

If it’s free, take it, even if you don’t need it. Even if it’s just a pen, it’s one you won’t have to buy in future. You can also get loads of free stuff online, from food to toiletries so you don’t have to spend money at all.

> Here’s how to get free stuff without being scammed

Plan ahead

While some costs may come out of the blue you should plan as much as you can, such as saving for Christmas, birthdays or just your car’s MOT.

Say no

Learn how to say no if you can’t afford it. Everyone’s finances are different and while others may have cash to splash (or at least seem to) you should avoid letting others drag you into debt.

Don’t forget those bills others do

When budgeting there may well be bills and expenses that you forget that many others do. Things like prescriptions (once over 18), contents insurance coats, TV license fee, rent deposit and agency fees may all crop up.

Cut out expensive habits

Whether it’s smoking or going to the gym, you can save lots of cash by just stopping one or two expensive habits that in reality you don’t need in your life, or at least can get elsewhere for free or cheaper.

> 7 surprisingly expensive habits you need to stop

Save any extra cash

Put any extra cash you have into savings, best bet is the highest interest Cash ISA you can find, with no penalties for withdrawals. While you probably won’t be able to save loads, it’ll provide a safety net and a fun for a rainy day.

Don’t panic if it all goes wrong

If you do run into money problems then do NOT go rushing to grab credit cards and AVOID pay day loan services at all costs. Contact family or ask friends for help and turn to your University, they’ll be able to offer advice and give access to a hardship fund to help you if things are that bad.