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Managing your money - current students

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Month by month finance tips and advice for current students

September

Plan a budget, think about part-time work, open bank account and share utility bills.

October

1st loan payment due, funding delays and council tax exemption.

November

Support with your finances and extra help from the DMU Support Fund.

January

2nd student loan payment, unwanted christmas presents and booking easter travel.

February

Start house hunting and extra financial support for securing next years accommodation

March

It is time to re-apply for student funding

April

Final student loan payment due and working over summer.

July

Get a summer job and reclaim any overpaid utilities.

Please note: This content was written with undergraduate home students in mind. If you are an International student please contact Student Finance and Welfare or International Student Support directly for further advice and guidance.

September

Put together a budget

Make sure you've got your budget in place for the start of term. Contact us or make an appointment with a Money Doctor if you need any advice on how to do this. Budgeting Tips on the Monday Advice Service website might be helpful too.

Get a part-time job

Increase your income by securing part-time work. At DMU, MyGateway and Unitemps, have lots of job opportunities. External agencies you might want to try are: Indeed and Student Job. If you're working part-time make sure you're paying the correct amount of tax. Save the Student! provide advice on how much tax you should pay and the Low Income Tax Reform Group have a Tax Guide for Students which includes things to know to get your tax right.

Open a student bank account, set-up an interest-free overdraft

If you haven't already, open a student bank account and arrange an interest-free overdraft.

Share utility bills for your house

If you plan to share a student house, you and your housemates need to be jointly responsible for all the utility bills. Save the Student! have a useful guide on setting up, splitting and managing utility bills. TIP: Make sure to take meter readings when you move in and submit them to your provider, you only want to pay for what you use.

16-25 Railcard

If you think you’re likely to be travelling a lot over the next few months, you might want to buy a National Rail 16-25 Railcard which gives a 1/3 off ticket prices. Don’t worry if you’re over 25, you can still get the rail card if you’re a full-time student. Make sure to check the eligibility details.

Young Person’s Coachcard

Prefer to travel by coach? National Express offer the Young Person’s Coachcard for 16-26 year olds. Again, it gives a 1/3 off ticket prices.

Worried about the cost of text books?

Why not buy second-hand? Save the Student! have lots of great ideas on how you can save money.

October

First student maintenance loan payment

Your first instalment will be paid on the first day of term, if you have completed your registration on time.

Delay in receiving your student funding

If you experience a delay in your student funding and are struggling with your finances we may be able to help. Book a 15-minute Quick Query appointment, a 30-minute Money Doctor appointment or contact us via email. Despite the delay, you should still be able to register as a student. The University may also be able to offer short-term financial support depending on your circumstances and eligibility.

Council Tax Exemption

Full-time students are exempt from paying Council Tax. Download your exemption letter from the My Documents tile on MyDMU.

Get your TOTUM Card

TOTUM is the only student discount recommended by the National Union of Students. Make sure you ask everywhere you go if they offer student discount.

November

Get support with your finances

November might be when you start to notice your bank balance getting low. If this happens to you, try not to panic! Book an appointment with a Money Doctor who can help you review your budget and make sure you're receiving all the funds you're eligible for.

Need some extra financial support?

Consider applying to the DMU Support Fund. The Fund helps with general living and course-related costs. Please make sure to check the eligibility criteria online before applying.

January

Sell any unwanted Christmas presents

If you’re looking to boost your finances in the new year, selling any unwanted gifts might help.

Second student maintenance loan payment

The second instalment is normally paid in January. Check your student funding Notification of Entitlement Letter for the exact date.

Book your Easter travel early

If you’re planning to travel home at Easter, booking your train tickets early could save some money. Cheaper train tickets are usually released 12 weeks in advance.

February

Start house hunting for next year's accommodation

Take your time finding somewhere that’s right for you and your budget. Visit the DSU Advice website if you need any advice about housing matters and tenancy agreements.

Financial support with the cost of next year’s accommodation

DMU may be able to offer you a financial contribution towards the cost of the deposit to secure your accommodation for next year. To find out more, take a look at the DMU Support Fund. Please make sure to check the eligibility criteria online before applying.

Need some extra financial support?

Consider applying to the DMU Support Fund. The Fund helps with general living and course-related costs. Please make sure to check the eligibility criteria online before applying.

March

Returning to study next academic year? If you haven’t already re-apply for your student funding.

If you're a returning student, you have to reapply for your student funding each year. The application cycle for returning students should’ve opened now. Check the following websites for more information.

April

Final student maintenance loan payment

The final instalment of the academic year will be paid shortly after Easter. Remember, if your continuing your studies next year, that this is supposed to last you until your studies start again next academic year.

Thinking of working over the summer?

If you think you’re going to run out of funds over the summer now would be a good time to start looking for a summer job. MyGateway is a great place to start looking for Job Opportunities. There’s also Unitemps, Indeed and Student Job.

May

Need some extra financial support?

Consider applying to the DMU Support Fund. The Fund helps with general living and course-related costs. Please make sure to check the eligibility criteria online before applying.

June

Returning to study next academic year? If you haven’t already re-apply for your student funding

If you're a returning student, you have to reapply for your student funding each year. The application cycle for returning students should’ve opened now. Check the following websites for more information.

TV Licence Refund

You might be able to get a refund on some of your TV Licence if you’re moving out of student accommodation over the summer. Visit the TV Licensing webpages for more information.

July

Summer jobs

The summer vacation is a good time to boost your finances and save money for next year by getting a summer job. MyGateway is great place to look for jobs and opportunities. There’s also Unitemps, Indeed and Student Job.

Reclaim your money

If you move out of your rented accommodation check that you haven't overpaid for utilities and that you've got your house deposit back.

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Be money smart

DMU have teamed up with financial education specialists Blackbullion.

Learn more

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