5 ways to get your finances back on track in 2026

The start of a new year is often a tough time financially for students, so if you're already feeling the squeeze, Tom Allingham, communications director at Save the Student, suggests five ways to get your finances in order

2026 has well and truly started, and the return to university brings with it the next maintenance loan drop. But this cash needs to last until the final payment comes in April, and with loans falling short of living costs by an average of £502 per month, according to findings from Save the Student's National Student Money Survey 2025, that won't be easy.

With this in mind, here are five ideas that can make or save you money.

1. Look for alternative part-time work

With the Christmas rush behind us, businesses are likely to be letting seasonal staff go rather than hiring newbies.

The good news, though, is that there are loads of jobs beyond working in a shop or in hospitality - you just need to think outside the box.

For example, you could:

• Get paid for online surveys - these websites serve as market research tools for a range of organisations, quizzing you on everything from your shopping habits to the TV shows you watch. You won't make millions, but they are flexible, and you can earn a decent income from the comfort of your own home.
• Work as a mystery shopper - by going undercover to review a shop, you can either get paid in cash or by covering the cost of whatever you buy in-store.
• Become an extra in TV and film - you can land the part of a non-speaking background character in one of your favourite shows, with opportunities available across the UK through agencies such as Uni-versal Extras and Casting Collective. This requires no prior experience, and you can earn over £90 per day.
• Set up your own side hustle - if self-employment appeals to you, you have even more options. Becoming a pet sitter (£10-plus per hour) or a private tutor (£20-plus per hour) involves building a client base - but once you do, it can become a steady earner. Consider other side hustles for students.

The point is to think creatively and go beyond what you find on job search tools.

Get some more moneymaking ideas by visiting Save the Student - Make money. You can also explore the range of student jobs at university.

2. Switch and ditch your bills

To save some extra cash, perform an audit on your outgoings. Look at your utility bills, such as:

• broadband
• electricity
• gas.

Although lots of energy companies are still on the price cap, some are charging slightly less and could be worth joining if there's no fee to leave your current provider.

You can also save on your heating bill by investing in an electric blanket. This will keep you nice and cosy and is much cheaper than using your radiators, as you're only heating yourself rather than the whole room.

As for broadband, it's easy to get sucked into paying for a more expensive package with speeds you'll never need. Again, if you're out of contract or the cost of leaving your current provider isn't too steep, see if you can grab a better deal elsewhere.

Don't stop there, though. If your phone contract has expired, don't automatically go for an upgrade. It's usually much, much cheaper to buy the phone separately and get a cheap SIM-only plan. £10 per month usually provides more than enough data, and the January sales should offer some great deals.

Last but not least, think about ditching some of your streaming subscriptions. Instead, try sharing accounts with your housemates or using (legal) free streaming sites. There are plenty of options available, including Box of Broadcasts (BOB), which is exclusively for students and features over two million films and TV episodes.

3. Look for a new student bank account

According to Save the Student's Student Banking Survey 2025, only a tenth (11%) of students cited the 0% overdraft as a factor in choosing their bank account. But, for our money, it's the single most important thing to look at.

Making ends meet as a student is tough, and even the strictest of budgets can leave you walking a tightrope. If even one unexpected cost arises, your funds could suddenly dry up, leaving you scrambling for emergency cash.

In this situation, an interest-free overdraft on a student bank account is the safest, most cost-effective, and easiest-to-access form of extra funds. But it may not be enough if you picked an account with a smaller limit, having been swayed by other factors.

Take a look at different student accounts on the market, and remember that loyalty rarely pays in the banking game. You're much better off switching and preparing for that rainy day.

Get the lowdown on Save the Student's Best student bank accounts 2025.

4. Use travel discounts to get back to university

If you haven't already, get a 16-25 Railcard. It'll save you a third on off-peak rail tickets, and can often pay for itself within one or two journeys. Plus, if you're in London, you can link it to your Oyster card to get the same discount on the Tube.

Be aware of split-ticketing, too. Put simply, if you're travelling from A to C and the train stops at B, it's sometimes cheaper to get separate tickets from A to B and B to C, rather than one for the whole journey. There's no switching trains, or even seats - it's just a quirk of the rail system.

Use websites with split-ticketing functionality, and they'll automatically work out the cheapest option for you. The following all offer it, but remember that some charge a booking fee, so be sure to keep an eye out when using:

• Trainline
• TrainPal
• Trainsplit

5. Try a savings challenge

Finding any money to save on a student budget isn't easy. Fortunately, some savings challenges make it much more achievable - especially the 1p Challenge.

The idea is simple:

• day one - save 1p
• day two - save 2p
• day three - save 3p
• continue through to day 365, when you save £3.65.

Once you make that final deposit, your savings for the year will total £667.95 - all without saving more than the cost of a meal deal on a single day.

Read more about this method of saving at Save the Student - 1p Challenge.

To level it up, you could even keep your savings in a high-interest account. However, ensure it doesn't limit your withdrawals, as you may need to access the cash in an emergency.

This should be enough to get you started, but remember that it's just as much about changing your mindset.

Once you've reduced your bills, switched bill providers and found unique ways to make and save money, you'll be much better at spotting great deals or potential savings elsewhere.

And if you find yourself in a really tricky financial situation, don't suffer in silence. Whether it's your university's money advice team, or a charity like StepChange or Citizens Advice, there are always people willing to listen and help you get out of debt.

Find out more

• Get more advice on saving money as a student.
• Understand student loans and finance.
• Explore summer jobs.