The Real Cost of Student Life in 2026: Where Your Money Goes and How to Make It Stretch Further

If it feels like your Student Loan disappears faster than it arrives, the numbers suggest you’re far from the only one.

According to Save the Student’s National Student Money Survey 2026, surveyed students are spending an average of £1,146 per month on living costs. The average Maintenance Loan works out at around £679 a month, leaving an average £467 monthly gap between the money coming in and the cost of student life.

That’s more than £5,600 over a year that students potentially need to find elsewhere through work, savings, family support or other sources of income.

So where is all that money going? And, more importantly, where can you realistically save without making uni life miserable?

How much does the average student spend each month in 2026?

The biggest expense is, unsurprisingly, rent. Save the Student’s 2026 survey found average monthly spending among respondents looked like this:

• Rent: £551
• Groceries: £155
• Transport: £73
• Bills: £68
• Going out: £60
• Takeaways and eating out: £45
• Clothes and shopping: £33
• Holidays and events: £32
• Health and wellbeing: £21
• Course materials: £16
• Mobile phone: £15
• Subscriptions: £14

That brings average monthly living costs to £1,146. Rent, groceries and transport have all increased compared with 2025, while students are spending less on things such as clothes, eating out and course materials.

In other words, students aren’t necessarily spending more because they’re doing more. A bigger share of the budget is simply being swallowed by the basics.

If you’re trying to understand where your own money is going, start by working out your annual student savings with SUBTV Perks and looking at where small discounts could add up over the year.

Food is taking a bigger bite out of student budgets

The average student surveyed now spends £155 a month on groceries, up from £146 in 2025.

More concerningly, 63% of respondents said they skip meals at least some of the time to save money, while 9% said they had used a food bank during the previous academic year.

Saving on food shouldn’t mean eating less.

Start with the money you’re already spending. Before doing your weekly shop, check whether there’s a student offer, discounted gift card or boosted deal available for the supermarket you’re heading to.

During Freshers 2026, for example, Sainsbury’s and Tesco were among the brands students most frequently voted to have boosted through SUBTV Perks.

It’s a small habit, but one that matters more when you repeat it every week: Before you spend, check Perks.

Don’t automatically pay full price for the things you were buying anyway

Saving money at university doesn’t have to mean cutting everything enjoyable out of your budget. The better place to start is with spending that was going to happen anyway.

If you’re buying groceries, ordering dinner, replacing trainers, going to the cinema or booking a trip, check for a student discount before you pay.

SUBTV Perks gives students access to discounted gift cards, limited-time offers and boosted deals across food, fashion, entertainment, travel and everyday essentials.

And where retailers allow offers to be combined, you may be able to stack savings by using a discounted gift card alongside another promotion.

The percentage might look small on one purchase. Across weekly shops and regular spending for an entire academic year, it can add up.

Check what your bank account is giving you

The survey also found that 36% of respondents use an overdraft as a source of money, while 19% use credit cards.

If you need access to an overdraft, a student account with an interest-free arranged overdraft can be significantly cheaper than borrowing on a credit card and carrying a balance.

Student accounts in 2026 also come with extras ranging from cash bonuses and food vouchers to Railcards and restaurant discounts.

The important thing is to compare the whole account rather than choosing one purely because the joining freebie looks good.

Check whether there’s money you’re entitled to

One of the most useful findings in the survey isn’t about spending at all.

A quarter of respondents said they had received a bursary, grant or scholarship, but 42% felt they hadn’t been made aware of the funding available to them. So if money is tight, check.

Look at your university’s funding pages, speak to your Students’ Union or student support team, and search specifically for bursaries, hardship funds, grants and course-specific financial support.

Just over one in 10 respondents to the survey said they had received university hardship funding during the 2025/26 academic year. It’s worth finding out what exists before assuming you won’t qualify.

Your student budget doesn’t have to be perfect

Almost 94% of students surveyed said they budget, yet 82% still said they worry about making ends meet.

That tells you something important: sometimes the problem isn’t that you’re “bad with money”. There is only so far a budget can stretch when rent, food and travel are rising and your income isn’t keeping pace.

A useful budget should help you see where your money is going, plan for the bigger expenses and catch avoidable spending. It shouldn’t mean feeling guilty every time you buy something that isn’t absolutely essential. The goal is to make the money you do spend work harder.

Make checking for savings part of the routine

You probably already check your bank balance before a big purchase.

Add one more check.

Before the weekly food shop. Before new clothes. Before booking dinner. Before buying tickets. Before paying for something you were going to buy anyway.

Check Perks first.

Student discounts won’t solve a £467 monthly funding gap on their own. But if prices are rising across the things you buy every week, paying less whenever you can is one of the easiest habits to control.

Full price is cancelled.

Before you spend, check SUBTV Perks.

Student cost of living 2026: FAQs

How much does the average student spend per month in the UK?

Students responding to Save the Student’s National Student Money Survey 2026 reported average living costs of £1,146 per month. The figure varies significantly by location, reaching £1,326 among respondents in London.

How much does the average student spend on food?

Respondents reported spending an average of £155 per month on groceries, plus £45 on takeaways and eating out.

Is the Maintenance Loan enough to live on?

Based on the survey figures, the average Maintenance Loan was equivalent to around £679 per month, compared with average reported living costs of £1,146. That creates an average shortfall of £467 per month.

How can students reduce living costs?

Start with regular spending such as groceries, food, transport, shopping and entertainment. Compare student bank account benefits, check whether you qualify for university funding, use student discounts and look for opportunities to stack eligible discounts or offers before paying.

Where can students find discounts?

SUBTV Perks gives students access to offers, discounted gift cards and boosted deals across brands in food, shopping, fashion, entertainment, travel and everyday spending.

Source: Save the Student, National Student Money Survey 2026, updated 15 September 2026. The survey was conducted online and its figures represent surveyed respondents rather than every UK university student.