Money stress is the real lesson many students face – what can you do about it?

When you imagine university life, you might picture jotting down notes in lecture halls, cramming for exams, and trying to survive on instant noodles.  

But a new study has revealed something surprising: for most students, the hardest part of going to university isn’t the studying, it’s managing money. 

Research by Visa shows that keeping on top of your finances at university is considered more stressful than eating healthily, doing laundry, or even cleaning your home.  

The real cost of university life 

Facing unexpectedly high bills and subscriptions, students are finding it difficult to manage their money and it’s causing real problems.  

The study found: 

• many students miss payments simply because they don’t have enough money 

• some even struggle to afford essentials like food and rent because of unexpectedly high charges 

• 88% say they feel overwhelmed by the financial pressures that come with adulthood 

• the pressure of keeping up with payments can cause friction between housemates 

The rise of BNPL among young people   

With money tight, more and more young people are turning to buy-now-pay-later (BNPL) to cover everyday costs, and not just the occasional splurge. 

Once seen as a way to spread the cost of the odd treat, BNPL is now becoming part of everyday life for a growing number of people aged 18–28.  

In our survey of 250 BNPL users in that age group, we found: 

• nearly 60% have between 2-5 active BNPL plans at any one time 

• 1 in 5 are juggling 6-10 plans 

• 5% have more than 15 

While 88% say they’ve never missed a BNPL payment, most admit they’re also using other types of credit alongside BNPL, including: 

• credit cards (79%) 

• overdrafts (30%) 

• store cards (16%) 

• car finance (17%) 

• personal loans (18%) 

From one-offs to everyday essentials 

BNPL isn’t just for big, one-off items anymore. While 67% of users still turn to it for the occasional splurge, like a new phone or concert ticket, our research found it’s now being used for everyday spending too: 

• 54% use it to buy clothes 

• 39% for holidays 

• 25% for festival tickets 

• 19% for groceries 

• 14% for takeaways 

Perhaps even more striking: 

• 14% said they use BNPL every time it's available 

• 45% admitted it allows them to live a lifestyle they couldn’t otherwise afford 

Why financial education matters and what you wish you’d been taught 

All of this points to one major issue - many of us were never actually taught how to manage money properly. 

In our survey of people who came to us for debt advice: 

• 94% said they didn’t receive any financial education when they were younger 

• 80% believed it would’ve made a real difference in their situation 

When asked what topics would’ve helped, people said: 

• budgeting (77%) 

• understanding credit and debt (68%) 

• saving and why it matters (62%) 

So, what can you do? 

If you’re a student (or supporting one), here are a few things you can do to stay on top of your finances: 

• Create a simple monthly budget to stay on track of what’s coming in and going out. 

• Use apps to manage subscriptions, so you're not caught off guard. 

• Be cautious with BNPL and treat it like credit, because that’s what it is. 

• Talk openly with housemates about shared bills as clear communication can mean less tension. 

You're not expected to be a finance expert overnight. But taking small steps now can help you feel more in control and less overwhelmed, as you navigate university life and beyond.