Class in Session Podcast 5: Managing Finances as a Student

Managing finances as a student can be one of the biggest challenges. From tuition fees to everyday expenses, sticking to a budget often feels overwhelming. However, with the right strategies and support, students can manage their finances while staying focused on their academic goals.

In this episode of Class in Session, host Afia Hagan spoke with Professor Alison Watson, Nicola Frampton, and Aleesha Mohammed. They discussed the difficulties students face when balancing work, studies, and finances, sharing valuable insights and tips on navigating both academic and financial pressures.

Common misconceptions about balancing work, study, and finances

One of the most common misconceptions about student finances is that all students rely on parental support or come from financially privileged backgrounds. Nicola Frampton, Insight Manager at Student Minds, explained, "There’s this idea that all students are financially privileged and rely on parental support. In reality, many students juggle part-time jobs, run small businesses, or find other ways to fund their education."

Aleesha, a current Arden student, also shared her initial concerns about balancing work with study. "I thought balancing work, studies, and family commitments would be impossible," she said. "But with Arden’s flexible model, I found it’s actually doable."

Professor Alison Watson, Head of the School for Leadership and Management at Arden University, reassured students who might be anxious about managing work and study. "Many students ask, 'Can I work while studying?'" she shared. "The answer is yes! At Arden, we structure our timetables with just eight hours on campus per week, leaving plenty of time for work and other commitments."

The biggest financial challenges for students

The rising cost of living is a growing concern for many students. Nicola explained that the rapid increase in accommodation and rental costs is outpacing the growth of maintenance loans, leading to financial strain for many. "This imbalance often results in students struggling to budget effectively, which can also impact mental health," she noted.

Aleesha added, "When you're trying to balance studying, work, and everything else, it's hard to think about how you can also manage your money. The flexibility to work part-time, and knowing when my study time is, has been really helpful."

How Arden University supports students

Arden University recognises the challenges students face, particularly when juggling work, study, and finances. Our flexible learning approach provides key benefits to help students manage it all:

• Flexible schedules: "I can change my hours around my schedule,” says Aleesha. "When the timetables change, I just give my employer enough notice, and they’ve been happy to accommodate my work shifts."
• Blended learning model: "The blended learning model at Arden is perfect for students like me. It’s easier to juggle work and study when I only need to be on campus for eight hours a week," says Aleesha.
• Financial support and advice: "There’s always someone to talk to at Arden about managing your studies and finances. They provide good resources, especially when it comes to budgeting and planning ahead," says Professor Alison Watson.

How students can overcome financial pressures

Although financial strain can lead to stress and affect mental health, there are ways students can manage it effectively. Nicola recommends being proactive about financial planning. "The most important thing is to understand your finances early on and make adjustments when necessary. Talking to your employer and making sure you have a flexible schedule can really help."

Aleesha also shared her own strategy: "I make sure to plan my month ahead, and whenever possible, I try to get ahead with my coursework. That way, when I need to work extra hours, I have the flexibility to do so without falling behind in my studies."

Arden’s flexible learning options, along with its financial planning resources and support, help students stay on track without feeling overwhelmed. For more tips and in-depth discussions, listen to the full episode on Arden University’s Apple, Spotify, or YouTube channels.

Ready to take the next step? Explore Arden University’s courses and find the degree that aligns with your career goals by visiting our courses page.