Student finances
How do you stay on top of your finances in college?
Staying on top of your finances in college can feel challenging, but a few simple steps can make a big difference. From finding accommodation and opening a student bank account to budgeting for rent, bills and everyday spending, planning ahead can help you feel more in control of your money.
Starting early, using trusted supports and making informed choices about borrowing, spending and saving can reduce stress and help your money go further. This page explains the key things to think about when managing your finances as a student, including housing costs, banking, budgeting, bills and ways to save money during college.
Step 1 – Finding somewhere to live when you’re in college
Student accommodation is limited, so start your search early.
Tips for finding accommodation:
- Talk to your student union or college reps for advice. Many colleges list approved landlords, homestays and digs (Digs are lodgings in a family home, usually including meals. You can find out about local digs at your college accommodation offices or students’ union).
- Use online maps to check the location and area. Check if the area is well-serviced by public transport using the Transport for Ireland (TFI) interactive map.
- Always view the property before paying a deposit. Prepare questions in advance. Be aware of rental scams – more on this below.
- Ask about bills, heating, home insurance, WIFI and parking. Ask what is included in your rent and what you must pay separately. Make sure you’re clear on what method you are to use to pay bills and rent. Go to our page on direct debits and paying your bills.
- Campus accommodation may be cheaper if bills are included, try to secure a place early. Check with the student accommodation office as soon as you know you will be going to a particular college.
- Most landlords ask for a deposit (usually one to two month’s rent). You’ll get it back if the property is left in good condition and bills are paid. Make sure you keep a record of it – ask for a written or emailed receipt.
- Avoid paying in cash. Use trusted sites and contact your college accommodation office if you’re unsure.
Watch out for rental scams
Scammers may copy real listings and use fake contact details. They might refuse to show the property, send fake documents or keys. Another scam involves renting a property short-term, showing it to others, collecting deposits and disappearing. For more, go to the CCPC rental scams page.
What are your tenant rights?
Visit Threshold or Citizens Information for tenant rights and responsibilities.
Residential Tenancies Board (RTB)
Landlords are required to register their tenancies annually with the Residential Tenancies Board (RTB). Check the RTB Register to make sure the rental property you’re looking at is registered.
Should you get contents insurance before going to college?
Yes, even if it’s the last thing on your mind, contents insurance is worth considering.
If you own expensive items like a laptop, phone or music equipment, they could be stolen, lost, or damaged. Replacing them could put a serious dent in your student budget.
What should you check before choosing a policy?
- Will you be covered outside of term time?
- Are there any exclusions?
- What excess applies?
- Can you get cover under your parents’ policy?
It may be difficult to get cover in your own name, but you might be able to add top-up cover to your parents’ home insurance policy.
Learn more about contents insurance and what to look for in a student policy.
Step 2 – What you need to know about student banking
Open a student account early to track your spending.
- Don’t be swayed by freebies – check fees and charges.
- Most banks offer fee-free banking, but overdraft and late payment fees still apply.
- Use our Current account comparison tool to compare accounts.
How do you manage credit?
- Avoid credit cards if possible.
- If needed, choose one with a low annual percentage rate (APR) and no annual fees.
- Only use it for essentials and pay in full monthly.
- For loans, choose low APR and short terms to reduce interest.
- The APR is the annual rate of interest you will be charged on a loan. It takes account of all the costs involved over the term of the loan, such as any set-up charges and the interest rate. You can use the APR to compare different loans, as long as you compare them over the same term, for example 3-year loans.
Compare options using the CCPC Credit card comparison tool and Personal loans comparison tool.
Don’t ignore debt
Speak to your bank or student welfare officer if you're struggling. Missed repayments affect your future credit record. Contact the Money Advice and Budgeting Service (MABS) if you are concerned about debt – they likely have offices near to your college. Use their office locator.
Step 3 – Set a realistic student budget
List your income and expenses:
- Income: Student loan, grant, summer savings or parental allowance
- Expenses: Rent, food, utilities, transport, entertainment, phone and loan repayments
Check the Technological University of Dublin cost of living guide for typical student costs.
Step 4 – Learn how to handle bills while you're in college
You can pay bills via standing order, direct debit or credit transfer.
Check costs and ask about student rates.
- Ensure enough money is in your account to avoid penalty fees
- Compare current accounts using this CCPC Money Tool.
Living with others?
Agree on shared costs early. Set a payment day for rent and bills. Divide bills equally and share responsibility.
Step 5 – Choose the smartest ways to save money as a student
- Student grant: If you are eligible, make sure you are getting financial support. Check Citizens Information, Higher Education Authority and Student Universal Support Ireland (SUSI).
- Tax refund: If you worked over summer, you may be eligible for a tax refund. Visit Revenue.ie.
- Accommodation: Student accommodation is scarce and costly – make sure you get the best option for you. Visit Citizens Information for standards and rights.
- Transport: Get a Student Leap Card, which gives you a reduction on travel and in some cases retail stores nationwide. Consider cycling.
- Mobile savings: Use messaging apps and compare deals on ComReg.
- College resources: Join clubs, volunteer for vouchers or meals, read student papers.
- Student discounts: Ask everywhere – shops, services, online deals.
- Save on bills: Use coupons, plan meals, shop smart.
- Don’t be tempted to eat out all the time: Bring a packed lunch or your own tea and coffee to avoid overspending on food – check Safefood.ie for budget-friendly recipes.
- Weekly shop: Make a list, buy in bulk with housemates, check for reductions.
- Books: Borrow from the library or buy second-hand. Sell unused ones.
- Clothes: Try charity shops and second-hand stores.
- Spare change: Save it in a jar and cash it in.
- Credit card tips: Consider whether you really need one? Try and avoid accumulating debt. If you need a credit card to pay deposits etc., choose low interest, no annual fee, and keep it safe. Use the CCPC Credit card comparison tool to get the best credit card offers.
