Money
Many students struggle to make ends meet while at university. For some students gambling, payday loans and match-betting are ways in which people try to get back on top. Unfortunately, this can lead to more trouble than it's worth.
Take a look at this page for the latest financial advice from your SU, ways to stay on top of your money and how to save on campus. You can also find support at the university or around Bristol, especially if financial issues are impacting your wellbeing.
Being in debt can often make us feel like being backed into a corner. If you feel like there is no way out, please speak to the University Wellbeing Services or contact Hopeline247 on 0800 068 4141 (or text: 88247) for emergency support.
General money support
Coming to University means overseeing a lot of new costs and getting to grips with a student loan that needs to last. Learning how to manage your money is an important skill and will set you up for good overall financial wellbeing.
Check out, Save The Student’s Budget Calculator; it helps you manage your money and includes a great template of a typical student’s monthly costs.
The university offers some general money support, through these useful services;
- University money advice services - Help you with managing the costs of living in Bristol and other expenses attached to being a student.
- University hardship funds - If you’re experiencing financial hardship, there are a variety of funds you might be eligible for.
- Careers Service – Isn't just for graduate jobs, they can also support you to find part-time work, alongside your studies.
For other money saving advice and support there are also these options...
- Save the Student - Provides free, impartial advice to students on how to make their money go further.
- Money Helper - Ensure that people in the UK have free access to the guidance they need to make effective financial decisions (including debt advice).
- Money Saving Expert - Aim to provide the best money saving guides, tips, tools and techniques, including specific advice for students.
Student overdrafts
Student overdrafts are short-term, interest-free loans that are just for students to help with living costs while at university. Remember, this is not a grant, you will have to pay it back eventually, sometimes at an additional cost. So, remember to do your research on the details of your overdraft agreement.
Consider things like, how much you can borrow, how long the interest-free period lasts and when you need to start paying it back. The university advice service is here to answer your questions and queries.
It’s advised you don't open multiple student bank accounts for another overdraft. This violates your account(s) T&Cs, meaning banks could cancel your overdraft, shut down your account with immediate effect and demand repayment.
A number linked to your financial history, that shows how reliable you are at paying money back. This could impact your credit score, especially if you've maxed out multiple overdrafts.
PGRs and overdrafts
Going on to a master's or PhD? Your student overdraft could change!
Once you're done with your master's or PhD, your account will switch to a graduate account. This means that student perks such as an interest-free period will end, and your borrowing limit will go down over time.
Payday loans
We all have tough months, and sometimes, you just need a bit of extra help to get through to payday.
A way that students have tried to help with this stress, is by taking out aBut before you consider a payday loan, it’s important to know the risks. These loans often come with very high interest rates which means you could end up paying back far more than you borrowed, and fast. Missing payments can cause you to fall into a cycle of debt and they also go on your credit file. These loans will impact your credit score, even if you pay it back!
If you’re thinking about taking one out, make sure you understand the full cost and explore safer alternatives first.
Need help? The University Money Advice Team is here for you and can offer friendly, free, and confidential support.
Saving money on and around campus
As a student, most of your time is spent on or around campus. Check out these support pages which includes some of the ways we are helping students deal with the cost of living while at university.
From your cheap food spots, sustainable swap shop incentives and free spaces you can book for student group activities. We have got a range of support on offer but giving you more options remain one of our top priorities.
- Birthday Bus – Did you know that First Bus offer free bus travel throughout the entirety of your birthday month; happy birthday to you! Sign up now.
- Dr. Bike - Bristol is a very cyclable city and using a bike to get around is a great money-saving alternative to other transport. It’s great for your physical and mental health, too. Dr. Bike regularly hold ‘bike clinics’ on campus. It’s free bike up-keep for students and staff, by professional bike mechanics.
Food banks
Accessing a food bank might seem strange at first, but there is no shame in needing to lean on them for support.
Since 2022, student food bank usage has doubled to 14% (NUS). Food banks are for anyone struggling to afford their food shop.
- Trussell Trust is a national food bank charity. You can access their food banks with a referral voucher
- Food Club operates around the Bristol area. If you live within 15 minutes of one of their listed hubs, you can become a member for £1 per-year and access £15 worth of shopping for £4.
- There are many apps to help with food poverty and waste, we recommend Olio and To-Good-To-Go, but there are many more!
Gambling
According to research from Ygam, the most common reason given for students choosing to gamble was ‘to make money’.
It was also reported that 46% of students who gamble said ‘gambling has had an effect on their university experience’, including trouble paying for food, attempting to access hardship loans and missing social activities and work deadlines.
ARA (Recovery for All) is a local service helping those affected by gambling. They have free support, including relapse-prevention groups and free counselling.
Gambling in video gaming
Video games are designed to keep players engaged and invested. Features such as; chance-based rewards, virtual currencies and tradeable items frequently require a user to spend real money on virtual items. Enhancements through in-game purchases or microtransactions (e.g. ‘Loot Boxes’) are tried and tested gambling tactics.
While video-gaming is a healthy habit for many people, certain signs may indicate that it’s becoming harmful:
- Disrupted sleep patterns or difficulty sleeping
- Withdrawal from other activities and relationships
- Difficulty controlling gaming time
- Strong emotional responses when unable to game
Get ‘Ahead of the Game‘ with help and support from ARA.
Spotting the signs of gambling and supporting a friend:
Early intervention can make a significant difference in preventing gambling harms from escalating.
If you notice several of these signs developing over time, it’s worth having a gentle, non-judgmental conversation with your mate. The goal isn’t to accuse or confront, but to help them get the support they might need.
- Financial hardship
- Withdrawal and mood swings
- Issues with time management and sleep
- Increased anxiety, agitation, or showing signs of depression and hopelessness
- Trying to hide gambling habits with charm or manipulation.
If you’re worried about yourself or a friend, you can access support from Wellbeing Services and Money Support Services at the university.
Match Betting
Match betting is a gambling strategy that exploits the bookmakers' offers to cover all possible outcomes of a match. Match betting might seem risk free, but this is false, it exposes you to constant pro-gambling messaging and comes with many legal grey areas...
- Illegal = Using other people’s gambling website accounts to match bet
- Illegal = Buying people’s betting accounts off them, for match-betting purposes
- Illegal = Match betting on behalf of others and charging for this ‘service’
Debt
Being in debt is very scary and directly impacts our wellbeing. If you find yourself in debt, there is free, confidential support at the University Money Advice Service to help you find your way out. This includes helping you with debt incurred from gambling or payday loans.
Other services include;
Avoidance is harmful: Don't ignore your financial responsibilities, as this can increase anxiety and impact your mental health.
Being in debt can often make us feel like being backed into a corner. If you feel like there is no way out, please speak to the University Wellbeing Services or contact Hopeline247 on 0800 068 4141 (or text: 88247) if you are feeling suicidal.
Scams and fraud
Scams are becoming more and more sophisticated, especially with the rise of open-access AI. We know that our international students are disproportionately targeted and affected by scams and fraud.
There is no shame in having been tricked into giving away your money and personal details; we are all vulnerable to this risk. If you do need help and support, you can reach out to the University Money Advice Service or;
- Read the UK Council for International Student Affairs’ guidance on how to protect yourself.
- If you get someone fraudulently claiming to be the Home Office, the Gov.uk website outlines what to do if this happens to you.
- The National Cyber Security Centre has advice for individuals on responding to an online scam.
