Future-proofing your Finances – NSMW 2026

When people talk about “future-proofing your finances”, it often sounds like some far away advice meant for graduates with full-time jobs, pensions, and disposable income. As students, it’s easy to feel like money is something to properly think about later. In reality, university is where many of our lifelong financial habits are quietly formed, whether we realise it or not! 

As an international student, I’ve had a slightly different experience managing money at university. Since I didn’t receive a maintenance loan, I had to be intentional about budgeting and saving. That said, future-proofing your finances isn’t exactly about how your money comes in, but rather what you do with it once it’s there. Home students receiving student loans can still apply the same principles, particularly when they find large sums arrive at the start of term. There are many ways to future-proof your finances, but today I’ll cover two ways you can start thinking about it.  

Saving and Investing for the future 

One of the biggest misconceptions around money is that you need to be earning a lot before it’s worth saving or investing. In reality, I find that the most important thing you can build at university isn’t wealth, but the habit of paying yourself first. Even putting aside £10–£25 a month creates a mindset shift. For some students, that might come from a part-time job; for others, it might be a small portion of their student loan. Personally, I found that redirecting money I didn’t really notice I was spending (for example, that morning coffee I don’t *really* need) made saving feel achievable rather than restrictive. Over time, it also made me more aware of where my money was actually going and helped me become more intentional with my spending. Sounds like a win to me! 

Learning skills and increasing earning power 

Futureproofing also isn’t just about cutting costs. It’s also about increasing your earning power. University is one of the safest environments to experiment with income, because the stakes are relatively low, and you’re constantly developing new skills. Many students underestimate how valuable what they already know can be. Tutoring a language you already speak, freelancing, or even casual work related to your degree can often pay more per hour than traditional part-time jobs. Turning my own passion for drawing digitally proved to be quite a good source of income when I had time to spare on drawing people’s pets online! I was pleasantly surprised to see that my skills were wanted somewhere, and that I just had to find my audience.  Learning how to manage a source of irregular income taught me lessons about budgeting, discipline, and confidence that I’ll carry far beyond university and into the future. 

Ultimately, future-proofing your finances at university isn’t about being perfect or depriving yourself of enjoyment. Whether you’re a home student receiving student loans or an international student navigating finances independently, the habits you build now can quietly shape your financial confidence for years to come. 

Claire Han 
King’s Student Money Mentor 
Part of Money & Housing Advice 

The King’s Student Money Mentors blog shares our students’ personal experiences and thoughts on money-related topics. Any reference, opinions or recommendations on a particular company/brand are only the views of the student(s) who wrote the blog post. King’s College London, the Money & Housing Advice service and the Money Mentor project do not share the views in the blogs nor endorse any of the companies mentioned. Readers should conduct their own research before using any companies mentioned in our blog posts. 

Understanding Borrowing & Recovering from Debt – NSMW 2026

Being a university student is exciting, but it can also feel like getting thrown in the deep end – you are suddenly tasked with managing your money to pay for bills, groceries and rent, all while keeping on top of your studies! 

Naturally, it’s also daunting to handle student loans and debt. Borrowing money can come in many forms, like using your overdraft, taking out a student loan or using ‘Buy now, pay later’ models. Borrowing as a student is completely normal, but it is very important to learn how it works, especially when you’re trying to recover after a tough financial period. 

Overdrafts 

Some banks offer a larger overdraft than others, which may make them seem like the most obvious choice when selecting a bank. However, it’s important to remember that an overdraft is not free money!  

Unfortunately, it is something that must be paid back to the bank, but they are there to support you. Relying on your overdraft as a means to get by is never recommended, but consciously using it to help you when struggling is precisely why it is there.  

It’s very important to remember that you can be charged interest if you go over your arranged overdraft, so keeping track of your overdraft spending is key. Regularly checking your bank app and noting how much you owe is something I have found particularly helpful. Your overdraft does not have to be paid as soon as you graduate either (most banks will upgrade you to a graduate account, which may also come with an overdraft). Be sure to check what your specific bank terms are, but knowing this can prevent you from rushing to pay back your overdraft, causing you more stress in the process.  

Student Loans 

The use of student loans is very common, however not many people are aware of the process of paying it back. The payment is automatically deducted after a set income threshold is reached. Your income threshold will depend on the student loan plan that you’re on, but you can check on the UK Gov website here. Your repayment will be a percentage over this threshold, so graduating does not necessarily mean you will be paying your debt off. The amount you pay can be seen on your payslip. This means that your loan repayment is dependent on your income, not the amount of loan you owe. On top of this, after 30 years, your student loan gets written off automatically. As such, despite having a seemingly large figure to repay, the payments are small and relative to your income, so strategic planning can help you pay it off.  

Priority vs. non-priority debts 

Did you know that some debts are what’s called ‘priority debts’ while others aren’t? ‘Priority debts’ are things like rent, mortgage, gas, electricity, and council tax. If you have any of these debts, it’s important that you pay them off as soon as possible, as the consequences are very severe, from having your energy supply off or even losing your home. Once these are paid off, you can then focus on any other outstanding debts such as your water bill, credit card debts, or overdrafts. You can find more information and guidance on this at Citizens Advice or Step Change. 

Be smart about debt! 

When dealing with debt, it’s especially important not to make rash decisions. In stressful situations, some people feel tempted to borrow large amounts of money quickly to pay off existing debt. This is where loan sharks can become a serious danger. Whilst taking out a lot of money at once seems like a convenient way to pay off existing debt, loan sharks are notorious for causing more distress with their extortionately high interest rates, leaving people in a much worse position than before. Before making big decisions, it may help to make a pros and cons list to ensure your decision will help you out in the long-term. Asking yourself whether a decision will genuinely help you in the long term – rather than just offering short-term relief – can make a huge difference. 

Understanding borrowing is the first step to recovery, allowing you to make informed plans. Recovery from debt can always seem intimidating, so don’t feel afraid to ask for help. There are many available support systems, like King’s Housing & Money Advice Service, to help you with any financial queries. 

Hirra Yasir 
King’s Student Money Mentor 
Part of Money & Housing Advice 

The King’s Student Money Mentors blog shares our students’ personal experiences and thoughts on money-related topics. Any reference, opinions or recommendations on a particular company/brand are only the views of the student(s) who wrote the blog post. King’s College London, the Money & Housing Advice service and the Money Mentor project do not share the views in the blogs nor endorse any of the companies mentioned. Readers should conduct their own research before using any companies mentioned in our blog posts.  

The Basics of Budgeting – NSMW 2026

One of the biggest challenges of university life – besides all the exams and assignments – is managing money! Getting the chance to study in the centre of London is exciting, but student life here can be costly.  

I’ve personally had a long experience of budgeting, as a student who’s done both a degree where I moved away from home, and another as a commuter student. Each came with different expenses to consider, but as a result, I feel pretty qualified to share each of my experiences and the things I learned along the way!  

When I was studying away from home, my biggest costs to consider were rent, bills, and food, but didn’t have to pay for travel, and I had a student loan to cover these expenses. Meanwhile now, I don’t have to pay for rent, but I do have some hefty travel costs, and I don’t have a maintenance loan, meaning I finance my expenses with part-time jobs. In both cases, I’ve budgeted, which has eliminated any money-related stress while allowing me to put money aside for fun purchases and saving for the future. 

While the thought of budgeting may seem daunting (some of you reading might be imagining the horror of working with complex spreadsheets!), it’s a very straightforward process, and can be rather rewarding! Budgeting allows you to pre-plan and track your spending and potentially see where you could be saving. It really is a key skill that will be useful throughout your entire life, so it’s a great idea to master it now!  

How do I start? 

You can do it however you like – I personally use Microsoft Excel, as it means I can copy and paste monthly layouts, and it can do calculations for you. You can also do it on paper, or some Money Mentors like to use the BlackBullion Money Manager App. 

I personally like to split everything into months, and I make a page for each month, but you can use whatever interval you’d like. Then, I note down my income: for many of you, this will likely be your maintenance loan, or from your part-time job. If you’re on a maintenance loan, it could be useful to divide the amount into intervals, to see how much you can spend each month without overspending. I have one job with regular shifts where I get paid the same amount monthly, and another which is a casual contract, so my income from this can vary each week. In this case, I treat my regular job as my income, and the casual job goes to extra spending, or into savings. 

Once I’ve done that, I look at my mandatory expenses, which for me is my monthly TfL travelcard. For you, it could be your rent and bills. These ‘mandatory expenses’ are costs that must be paid on a regular basis, and the amount can’t be changed. I subtract my travelcard expense from my income, and this gives me the amount that I have available to spend on everything else.  

The next category for me was essentials that can vary in cost – when I was living away from home, I did weekly food shops. But I found that if I planned carefully, I could reduce my spending. Since my local supermarket was a Sainsbury’s, I got myself a nectar card and used it every time I shopped. By the end of my degree, I had enough nectar points to pay for my entire weekly shop for several weeks in a row!  

Once I’d allocated money to all the things I had to pay, the remaining amount could go to ‘fun purchases’ like shopping or day trips. It’s important to remember that you can still minimise your spending here – for example, I buy a Student Art Pass every year, which grants me access to paid museum exhibitions for half the price. (Just visiting one British Museum exhibition already pays off the card!) 

Any other leftover money goes into my savings, and that’s my budgeting process! 

Something important to keep in mind… 

While planning out your spending is helpful, it’s important to still have fun! Sometimes it can be easy to get too wrapped up in frugality and you may end up cutting your spending at a cost to your happiness. Make sure to set aside some money for days out with friends, or shopping and restaurants.  

If you do find that you’re consistently exceeding your budget, and it’s becoming a source of stress, then don’t hesitate to check out the Money Mentor Instagram account or our other blog posts for student deals, tips on saving money, and where to find part time jobs! You can also talk to a Specialist Adviser at the King’s Housing & Money Advice Service.  

Angel Damonsing 
King’s Student Money Mentor 
Part of Money & Housing Advice 

The King’s Student Money Mentors blog shares our students’ personal experiences and thoughts on money-related topics. Any reference, opinions or recommendations on a particular company/brand are only the views of the student(s) who wrote the blog post. King’s College London, the Money & Housing Advice service and the Money Mentor project do not share the views in the blogs nor endorse any of the companies mentioned. Readers should conduct their own research before using any companies mentioned in our blog posts.