Money Making Ideas

As a student you may have limited sources of income but there are a number of things you can do to try and increase your income. See our more detailed guide to increasing your income (PDF:147KB)

Check your financial entitlement

Check that you are receiving all the financial support you are entitled to. If you are not sure about this make an appointment with one of our Student Finance Advisers. The funding that you are eligible to apply for will depend upon your personal circumstances. See our Funding Section for more information about the different sources of funding available.

A word of caution!

Stop!Stop!Stop! - if you have run out of money and are thinking of taking out a short-term loan or payday loan from an external provider speak to the Student Financial Support Team first. We have discretionary funding available to help if you are struggling with living costs. We can also offer discretionary short-term emergency loans which are interest free. Often loans offered by external short term / payday loan companies will have huge interest rates which can make it difficult to repay the loan and can lead to unmanageable debts.

Student bank accounts

Most students can open a student bank account which usually offers an authorised interest free overdraft limit. Many students use this interest free overdraft to help keep them afloat when funds are running low. Make sure you shop around and get the best deal - ideally you should look for the student account which offers the largest interest free overdraft for the longest period of time. A word of caution - it is not usually a good idea to open multiple student bank accounts - if you stop using one of the accounts the bank could ask for the overdraft to be cleared without warning.

Part-time work

If you need to increase your income and make some extra money you could try taking on some paid work during term-time and vacations. If you are already employed and have undertaken work in the previous tax year it may also be worthwhile checking to see if you have earned less than your personal allowance and if you are entitled to make a claim for an income tax rebate.

Selling unwanted items

You could sell good quality unwanted items to help raise some extra cash. You may be able to use department notice boards, free papers and the internet to advertise items. Sites such as Ebay might be a good place to start. Take a look at Money Saving Experts guide to selling on Ebay. There's lots of other specialist sites available too for selling items such as mobile phones, CDs, DVDs, computer games, books, clothes, gold / silver. Be sure to research any site carefully. Please note the Student Financial Support Team are not responsible for the content of external sites.

Cashback sites

Whilst we would always encourage you to keep your spending to a minimum, if you do need to make essential purchases it’s always worth checking cashback sites first to see if you can make some extra money.  From food shopping to contents insurance, you will be surprised how much money you can claim back by making your purchases through a cashback site.  If you decide to sign up to a cash back site make sure it does not cost you anything to become a member.    Topcashback and Quidco do not charge you to sign up.

Competitions and prize draws

While it’s not a guaranteed source of income some people enter into prize draws, surveys and competitions to try and boost their income.  There are lots of free sites you can join such as free postcode lottery where you will be entered into a free prize draw at noon every day.   It’s totally free to play as the site pays winnings from its advertising space.  You’ll need to check the site each day to see if your postcode comes up otherwise the winnings will be rolled over to the following day.  Be cautious and avoid subscribing to sites that charge entry fees or ask you to provide your bank details.

Help from family members

Instead of receiving often unwanted gifts you could request cash or gift vouchers.

If you receive a loan from your family you may be able to pay it back in a more manageable way than a commercial loan. Whilst friends and house mates may offer to lend you money this could prove difficult, particularly if they are also a student. Friendships can often become strained if you are unable to repay friends and they fall into difficulties and request repayment of their loan.