Budgeting during exam season

By Modhurima Islam

Overspending during exam season can be a major issue for many students. Whether you are procrastinating studying, buying for convenience (e.g., takeaway), or stress spending, these costs can quickly add up. Let’s cover a few things you can do to not break the bank this exam season (and still enjoy life).

1. Set a budget for the exam period

The best way to keep yourself from overspending is to budget. However, during the exam season, it is okay to budget a little extra if you think you will need those morning coffees before your exams, or some comfort food here and there. The main objective of this budget is to cap that extra spending so you do not cross into a financial crisis. If you need a way to track your spending have a look at our Best Student Budget PlannersLink opens in a new window.

2. De-stress in other ways

Stress-spending is real and is, arguably, the worst during exam season. A lot of people find comfort in spending money on, for example, random takeaways, or an unnecessary Amazon order when things get stressful, i.e., retail therapy. To combat this, it is key to destress in healthy ways. Simple habits like morning yoga or an outdoor walk can be helpful to relieve stress without running down your budget. Check out Warwick Sport’s Rock Up and PlayLink opens in a new window sessions are free and a great way to destress. Wellbeing also hold Exam Anxiety drop-in sessionsLink opens in a new window every Tuesday and Thursday during Term 3.

3. Meal Prep

Convenience costs like takeout and premade meals are the major spending for many students during this season, as there is simply no time in the day to cook. However, meal prepping (batch cooking) can save you both time and money. Spend a few hours cooking a few dishes in bulk, and your future self will thank you! If you don’t know where to start have a look at our Student Cookbook which is full of recipe ideas.

4. Stock up on cheap ready meals

In the same vein as the last one, it is also wise to keep some ready meals in the freezer. You can find freezer meals for as low as 85p in both Tesco and Aldi. Although the taste may not be the best, there is nothing a little seasoning can’t save. Having some microwaveable meals ready to go will save you from getting expensive takeaway when your meal prep runs low.

5. Keep ‘little’ purchases in check

Buying coffee/snacks for the library every day can quickly add up and spell disaster for your bank balance. Do give yourself a little allowance for some of these little treats to not suck out all the joy out of life. However, it is important to not spend mindlessly and keep these small purchases in check.

So, to not put yourself in more stress after exams, keep these tips in mind. For further money-related support, contact Student Funding Support by email (studentfunding@warwick.ac.uk), phone (024 7615 0096), or come to the Wellbeing Reception in Senate House (10 am-3 pm Monday-Friday).