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Students Money Week: money and wellbeing

Written by: SU Advice https://www.upsu.com/advice/

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National Student Money Week is an annual campaign created by the National Association of Student Money Advisersto raise awareness about the money advice and support available to students at University and beyond.

Over the course of this week, we will be sharing information, advice and support available which focuses on the 2024 theme: Less Risk, More Reward: Maintaining your Financial Wellbeing at University.

 


 

Money and wellbeing:

 

Whilst time away at university can be an absolute blast, and we hope for you that is the case, it also can come with a pile of pressures. Any pressure that you are feeling whilst at university, will be something that many others are feeling and also going through. Money worries are a big one, and when someone is having issues with money then it can easily start to impart on a person’s wellbeing.

University is a time to have fun and let your hair down, but you also need to be responsible and realise that money does run out. Temptation to take part in harmful activities can come from being away from friends and family, peer pressure of new friendships, loneliness, stress etc. You can simply get into a habit of buying regular takeaways or spending a bit too much on nights out and before you know it your money is low.

Setting yourself a budget and an allowance will help any issues be more short-term than long-term. It allows you to keep on top of your money and understand your spending patterns. And it doesn’t mean you can’t treat yourself and splash out occasionally, it just allows you to see where you can pull that money from. Less risk, more reward!

Here at Student Advice we can offer advice and support on a range of money matters, including Student Finance, access to funding, financial worries and hardship, banking issues, government benefits and consumer problems. You do not have to go through any struggles alone.

We have links to a range of apps that can help you to budget as well as money saving website that will hopefully aid you and help your money go further. You can see that here.

But it is important to remember, that money can impact mood. Remember that the link between money and mental wellbeing can be described as a vicious cycle:

  • Low mood and poor mental wellbeing causing spending issues, and/or, 
  • Money worries causing low mood and poor mental wellbeing. 

If your mental wellbeing is being impacted, then please know there are people here that can help you. You can come through to us at the advice team and we can signpost you to services that are there to help.

There is Student Wellbeing Services, which offer a whole raft of support for students. They offer one-to-one appointments, drop-in sessions, workshops and groups, and have a range of self-help material so there are options available for you. They have an online referral form you can fill in, or you can email them at studentservices@plymouth.ac.uk or call them on 01752 587676.

There is also plenty of support available from local support services. These services are here to support people in need. You can see them here.

Reaching out isn’t always easy but it can often be the best thing a person can do to help lighten the load. 

 


 

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