Student budget: how to manage your expenses effectively

Housing

Student accommodation constitutes a substantial part of the student budget. In fact, it’s often one of the most significant expenses after tuition fees.

For many students, finding affordable housing is a major challenge. Rent prices vary considerably depending on the city and neighborhood, greatly influencing the cost of living. For example, large cities like Paris, Lyon, or Marseille have higher rents compared to smaller university towns.

In France, as elsewhere in the world, shared housing is a popular solution to reduce costs. Sharing an apartment allows for splitting the rent and utilities, making housing more affordable. Additionally, residences such as Maisons Ecla offer advantageous rates and include services like internet access, as well as common and recreational areas that make student life more enjoyable.

If you opt to rent an apartment or a studio, other associated costs need to be considered: utilities (water, electricity, heating), home insurance, and sometimes transportation costs if the housing is far from the university.

Scholarships and financial aid

Social criteria-based scholarships, awarded by CROUS, are the most well-known and are based on parents’ income. They can cover a significant portion of tuition and daily living expenses.

Merit-based scholarships reward students with excellent academic results, while specific scholarships, such as those for students with disabilities or international students, meet particular needs. Additionally, some regions and local authorities offer specific financial aid for students in their area.

Housing assistance, such as ALS (Social Housing Allocation), also helps reduce rent costs and, consequently, the monthly budget. Emergency funds can also be requested in case of unexpected financial difficulties.

Tips to reduce your expenses

To reduce expenses and effectively manage your student budget, here are some essential tips:

• Prioritize unavoidable expenses like rent and bills, and allocate enough funds at the beginning of the month.
• For food purchases, prioritize homemade meals and avoid impulse buys by shopping on a full stomach.
• Regularly track your finances with a budget management spreadsheet or app to anticipate potential deficits.
• Compare prices to find the best deals, whether for food, school supplies, or internet and phone subscriptions.
• Explore all housing options to find the most economical solution, and consider buying second-hand for clothes and other items.

By applying these simple but effective tips, you can better control your expenses and avoid financial difficulties during your studies.