Encouraging students to take control of their finances

Published on 5, March, 2025

This National Student Money Week, the University of Sunderland is helping support students build financial resilience.

Running from Monday 3 March to Friday 7 March 2025, National Student Money Week (NSMW) is an annual campaign to help raise awareness about the financial support, advice and resources available to students. This year’s theme is Survive and Thrive: Building financial resilience. 

Money worries can be a major source of stress for students, but there are lots of ways to make the most of your budget. One of our students, Ayodele Tobi Isamotu shared his thoughts on the best ways to balance your budget at university.

Tobi said: “I was looking for a budget-friendly university in an inexpensive city. Compared to other cities in the UK, Sunderland was an ideal location.

“With its relatively cheap accommodation, affordable shops and great local scenery, Sunderland was the perfect setting for a pocket-friendly lifestyle.

“I manage my budget by choosing my expenses wisely. This means I compare the prices and go for products with the best quality at the lowest price. I try to take advantage of sale offers and discounts whenever I can.

“Travel discounts help save a lot of money in my weekly commute to my classes and my part-time job. I try to really consider my choices with my budget, then save a certain percentage every month before spending.”

We asked some more of our students to share their top tips.

Budgeting

‘I have two separate bank accounts; a ‘bills account’ for direct debits and bills, and a ‘spends account’ for everything else. It makes it easier to keep track of how much money you have for fun while keeping your priority costs covered.’

Budgeting can be one of the most effective ways of saving money. Students can get support with managing their money from the University’s Student Financial Guidance team, including help in using student budgeting tools such as PANDA, an easy to use tool we developed exclusively for our students.

Student discounts

‘There are so many discount apps available and they all have great deals. TOTUM, Student Money Saver, UniDays, and Student Beans have loads of discounts on things like clothes, eating out and the cinema. Get them all and use them!’

Cheap Travel

‘There are loads of discounted travel options available, which means you can explore Sunderland and the rest of the north-east without a car. There are so many places you can get to on public transport, like amazing beaches in Roker or Tynemouth, other cities that are close by like Durham and Newcastle, or even a day out in York or Edinburgh.’

Look into a POP Blue Card for the Metro or the Student Season ticket, if you’re going further afield invest in a 16-25 railcard which costs £30 a year and will save students a third off rail fares.

Food and Drink

‘It’s easy to waste money on Food, especially if you’re not used to cooking for yourself. A weekly meal plan helps me buy what I need for proper meals. Bringing your lunch a couple of times a week can save so much and my reusable cup gets me a discount at coffee shops.’

The University of Sunderland has launched a Cost of Living Hub, which brings together help and guidance from student support teams, the Students’ Union, and students themselves. It covers budgeting and saving tips, sustainability advice and where to find student discounts.

>

The Student Financial Guidance team provides help with everything from advice on student loans and budgeting to support for those struggling.

The team offer 1-to-1 sessions to help students manage their money effectively, including,

• Applying for student finance from the UK Government.
• Understanding how course changes (such as Leave of Absence) impact funding.
• How student loans affect Universal Credit or other state benefits.
• Identifying financial support available for students in hardship.

Adrian Herbert, from the Student Financial Guidance Team at the University, said: “National Student Money Week is a time for us to think about our finances and to ask for support if needed.

“We in the Student Financial Guidance team are the University’s experts on all things finance, and we are here year-round to offer confidential advice, guidance and support to our students on any money-related matters.

“Students can contact us on 0191 515 2284 or drop us an email at studentfinancialguidance@sunderland.ac.uk . We also have a wealth of information, tips and advice on our section of the University website sj.sunderland.ac.uk/studentfinancialguidance/.”

Find out more about budgeting for university here:  https://www.sunderland.ac.uk/fees-funding-support/financial-support/