Simple strategies that helped me thrive financially

Starting university brought a lot of freedom — new friends, late nights, and my first taste of financial independence. But with that freedom came a wake-up call: managing money is no joke. In my first year, I learned (sometimes the hard way) how to stay on top of my finances. Here are some practical tips and habits that helped me stay on track during my first year.

1. Track your expenses

I used to think budgeting was complicated, but it is really just about knowing what is coming in and what is going out. I started by creating a simple budget, keeping track of regular expenses like food, transport, and nights out. Once I saw where my money was going, I could set limits and avoid spending everything in the first week of the month.

If you find it hard to track manually, there are plenty of free budgeting apps that can help you stay organised. Once I got into the habit, managing money felt a lot less stressful.

2. Food – cut costs without cutting your life

Food turned out to be one of my biggest expenses. I quickly learned that where you shop matters. Instead of grabbing things from the local Co-op or Sainsbury’s all the time, I started visiting budget-friendly supermarkets like Iceland, Aldi, or Lidl. Iceland in particular offers affordable pre-cooked and microwave meals, which are great for saving both time and money.

Eating out in London can be fun, but it adds up fast. If you don't want to miss out on socialising, try cooking meals with your flatmates — it's cheaper, more fun, and a great bonding activity. Also, instead of going to bars or pubs for drinks, pre-gaming (responsibly!) in your halls can be a great alternative.

3. Make smart transport choices

Getting around London can be expensive, but there are plenty of student-friendly options. First, walk whenever possible — it is free, good for your health, and helps you get to know the city better.

If you are taking public transport, invest in a 16–25 Railcard and link it to your Oyster card to get 1/3 off off-peak travel — the savings really add up over the year.

If you prefer cycling, you can find cheap second-hand bikes on platforms like eBay, or consider rental options like Lime and Forest. Lime bikes are widely available and convenient, but make sure to buy minute bundles — paying per minute can get expensive quickly. Forest is generally cheaper than Lime, especially if you subscribe or purchase one of their ride bundles.

4. Use your student status

Being a student comes with a surprising number of perks. Make sure to take advantage of discounts through platforms like UNiDAYS, Student Beans, and Totum. These can get you deals on everything from food and clothes to tech subscriptions.

Some of my favourites include discounted Amazon Prime, student pricing on streaming services, and offers at restaurants and takeaways. Always ask if a place offers a student discount — more often than not, they do.

5. Find part-time work

If you want to increase your income instead of just managing your spending, there are lots of part-time opportunities in London perfect for students. Platforms like LSE Careers, LinkedIn, and Indeed regularly list jobs that fit around a student schedule.

If you are open to hospitality work, many cafes and restaurants post hiring signs in their windows — keep an eye out when you are out and about. I was surprised by how many places are looking for part-time help, especially near campus or in central London.

Money management in your first year does not have to be overwhelming. With a few good habits you can enjoy university life without constantly stressing about your bank balance. It is all about being mindful, not restrictive!