It's easy to overspend when you're managing money on your own, maybe for the first time. The good news is there are smart ways to stay in control and avoid borrowing more than you can manage.
Know your spending triggers
Everyone has spending habits. The key is recognising yours.
Start by knowing what triggers your spending - maybe it's boredom scrolling, saying yes to every social invite, or splitting costs with mates and losing track. Once you spot the patterns, you can make smarter choices.
Watch out for "Buy Now, Pay Later" schemes
BNPL services like Klarna, Clearpay and Laybuy make it easy to spend money you don't have.
They make it feel like you're not spending real money, but repayments still count as debt, can hurt your credit score, and often come with late fees. If something isn't essential, save up or look for a discount or second-hand version instead.
Avoid the 'tap trap'
Contactless payments and one-click checkouts can also lead to what's called the "tap trap" - spending without thinking. Try switching to cash for a few days or set spending alerts in your banking app to stay aware of what's going out.
DON'T IGNORE DEBT!!!
And if you're already in debt, you're not alone - but don't ignore it. Prioritise your rent, bills and essentials, and reach out for support early.
Where to get help:
Plan for fun
Remember: budgeting doesn't mean missing out. Plan for fun too - set aside a little for socialising, explore free events, or host nights in with friends. You don't have to spend loads to enjoy student life!
See our guide to free and cheap things to do in Sheffield