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Living expenses and budgeting

Last updated: 27/06/2025 14:25

Learn about the importance of budgeting and how to make your money go further.

Budgeting is a skill that allows us to be in control of our money. In theory it's straightforward but putting it into practice can be tricky, and requires discipline.

Average living expenses

Knowing what funding you have is only half of budgeting. You also need to know how much you will spend as a student.

Our living costs calculator can help show you the average living expenses (calculated from the expenditure of real-life students) depending on your level of study and where you choose to live.

International students: These figures are different from the financial maintenance test that you will be required to pass to obtain your Tier 4 student visa.

Budgeting

Work out what funding you have coming in and what money you have to pay out - simple! It can be helpful to budget in weeks, months or terms. Whatever works best for you is the best way. Make sure you keep checking your bank account so that you're not caught out by a sudden cash crisis.

Student bank accounts

Making the most of the financial products that are available to you while you are a student is just being money-savvy.

Check out Save the Student or Money Saving Expert for useful information on student bank accounts.

International students

Once you’ve arrived in Cardiff and collected your student ID card, you’ll be able to open a UK bank account. Full guidance, including how to get your bank letter and transfer money from abroad, is available on the student intranet.

Single-semester exchange students

If you're staying in Cardiff for six months or less, your options for opening a UK bank account may be limited, as many banks require a longer stay.

Alternatives to consider:

  • basic or international student accounts from banks like HSBC or Lloyds
  • app-based banks such as Monzo, Revolut, or Wise
  • using your home bank account if it supports international use
  • prepaid travel cards for everyday spending

Check for fees and currency conversion charges before choosing a solution.

Making your money go further

Here are some ideas for increasing your income and reducing your expenditure.

You may have already had a part-time job before coming to university, so why not carry that on?

Find out more about working during your studies.

Cardiff University Student ID

In addition to giving you access to university buildings, your student ID card may also entitle you to a student discount in some shops, cinemas and restaurants.

NUS (National Union of Students)

As a student, you’ll have the option to buy a TOTUM card, which gives you access to a wide range of discounts on things like cinema tickets, clothing, and travel. If you’re ever unsure whether a place offers a student discount, just ask - it’s always worth checking!

ISIC (International Student Identity Card)

The ISIC card is available to all full-time students and offers discounts on charter flights, certain types of accommodation, cinema tickets, and entry to art galleries and museums. To get one, you’ll need a passport-sized photo and proof of your full-time student status.

Young Persons Coachcard

Get discounted travel on all National Express coach journeys across the UK. You can purchase the card at National Express coach offices or online via the National Express website.

16-25 Railcard

Enjoy discounted rail travel throughout the UK (subject to terms and conditions). To apply, you’ll need proof of student status, your passport, and a passport-sized photo. The card can be bought at any railway station or through the 16-25 Railcard website.

Get in touch

If you have any questions about living expenses or budgeting, get in touch:

Student Advice and Money