Where are students going for financial advice?

If you’re starting university, you may be managing your money for the first time in your life. So where do you turn for accurate financial information and tips you can trust?

Well, according to a poll by Save the Student, nearly one in four are turning to AI tools for advice on how to manage their money.

But students aren’t solely relying on AI.

More people turning to friends and family

More than six in ten (61%) students are asking their parents for advice about money.

And interestingly, that’s up from 57% last year.

Similarly, the number of people asking friends has also gone up, rising from 32% to 35%.

“It may be that with the sheer volume of online advice, coupled with the risk of misinformation and scams, respondents feel more trusting of advice from real-world sources,” Save the Student said.

We’re here to help

We want to help you build good money habits from day one.

After all, the last thing you want is to be coming to us for help in a few years’ time.

That’s why we’ve created a student hub packed with tips, guides and advice to help you navigate uni life, including:

• 7 ways to stay on top of your finances at university
• Why budgeting really matters at uni
• How to save money on food at university

So take a look at our handy tips and advice, so you can enjoy the student experience without money becoming a headache.

Most students ‘have no choice but to budget’

Figures from Save the Student also found that the vast majority (94%) of students budget at university.

On the face of it, that’s a good thing, as we’d always encourage young people to keep a close eye on what’s coming in and going out.

But Save the Student believes it’s happening more simply because of sheer necessity.

“Given the extreme financial pressures facing students, it's clear that many will be budgeting because they have no other choice,” the organisation said.

“This figure has always been high - traditionally exceeding 80% - but it's only in the past three years that it's crossed the 90% mark.”

We’ve created a student budget calculator to help you stay on top of your finances, so you don’t run out of money before your next payment.