University Students Turn to Hacks and Perks to Counter Rising Financial Pressure

Nationwide Building Society’s research finds that money-related mistakes dominate the regrets of today’s undergraduates. Six of the top seven errors cited by respondents involve budgeting failures, overspending on nightlife, reliance on overdrafts, or blowing an entire student-loan instalment in the first weeks of term.

The Guardian

Erin, a 21-year-old psychology and cognitive neuroscience student at the University of Nottingham, credits pre-university work and holiday jobs with giving her a realistic sense of costs. She sets a monthly budget and, if she exceeds it, must dip into savings earned from her part-time employment. Erin and several friends hold Nationwide FlexStudent accounts, which provide a £10 Just Eat voucher each month for the first year. She also sells second-hand clothing, reporting a £200 profit over a single weekend.

The Guardian

Erin maximises free or low-cost experiences through a mix of brand-representative work, voluntary event staffing, and collective voucher use. As a brand rep for a race-day promotion company, she receives complimentary tickets and transport, earning commission on sales generated via her social-media links. Volunteering with agencies such as Festaff and Wicked Events has secured her free entry to festivals—including an eight-hour ticket-scanning shift that let her watch Oasis front-row at no cost. She and friends pool their monthly Just Eat vouchers for “floor picnics” in residence halls, a strategy she describes as a “life-saver” given limited cooking facilities. Erin also advises students to “think in hours, not pounds,” calculating how many work hours a purchase would require before buying.

The Guardian

Tom Riley, Nationwide’s director of retail products, says the research highlights a sharp increase in financial strain for current students compared with earlier cohorts. Nationwide’s FlexStudent product is positioned as a tool to help students build savings while accessing modest monthly perks.

The Guardian

• “Our research shows just how much more financial pressure today’s students feel compared with previous generations,” — Tom Riley, Nationwide’s director of retail products

The Guardian