Business
University students ‘overwhelmed’ by managing finances in London
Gem O’ReillyLondon and
Harry CraigLondon
BBC / Gem O’ReillyLike many of the more than half a million students studying in London, Thomas Murch finds coping with finances an ongoing struggle.
“The cost of living has increased a lot, so doing the things I would normally do requires more money, and it’s very hard for me to balance the wants with the needs.
“There’s so much I want to do, but there’s so much I have to take care of first.”
Thomas is a student at the University of East London (UEL), and works with the Student Money Advice and Rights Team (SMART) to teach students how to budget.
This includes help in signing up for bursaries or other programmes to obtain full funding entitlements, and supporting career development.
Thomas said the SMART team helped him to stay in control of his finances, including how to “make sure my needs are met before I deal with my wants”.
As students return to universities and the new academic year, the 2025 National Student Money Survey found an average student in London spends £1,269 a month, covering basics like rent, bills and food.
Undergraduate tuition fees also rose from £9,250 to £9,535 in September 2025, the first increase since 2017.
BBC / Gem O’ReillyKayode, a final year masters student at UEL, said he worried about his finances “a lot of the time”.
“You have to pay rent, go grocery shopping for food, and find your way to work and classes.”
Research by Visa, which surveyed 275 London students and 2,000 undergraduates nationally, suggested he is not alone.
The vast majority – 84% – of students surveyed in the capital said they felt “overwhelmed” by managing their money.
Another financial burden for students in London is the cost of transport.
The capital’s Tube network is the most expensive of any major global city, with a single journey costing between £2.50 and £3.80.
UEL undergraduate student Viga Lukita raised travel costs as a concern, but said she uses the Student Oyster Card and travelled during off-peak hours to save money.
The start of the new academic year comes as social mobility charity The Sutton Trust warned pupils from private schools “are maintaining a vice-like grip on the most important roles in society“.
Data from the trust indicated the UK’s most powerful and influential people are five times as likely to have attended private school than the general population.
Getty ImagesUEL is ranked the UK’s most accessible university for low-income groups, and 77% of its UK students come from the most deprived homes.
Prof Amanda Broderick, vice-chancellor and president of UEL, said: “Talent is evenly spread across society, but opportunity isn’t.”
She said the university provides more than £7m in bursaries and hardship funds each year, as well as running financial literacy courses and setting up a student essentials larder.
Prof Broderick also said the university supports its students to work part-time alongside their studies.
Research by the Higher Education Policy Institute suggests more than two-thirds of full-time students now work during term time – an increase on 2023.
One of these is UEL masters student Anand Sasi Kumar, who struggled to manage his money when he started his studies but getting a job helped him survive.
“Once I got into work, I could budget everything much better and easily.
“If you’re lucky enough to find a part-time job and you earn good money, it’s easier for you.
“When I started earning, I could start to go out more and see more places.”
BBC / Gem O’ReillyEmily Crook, a student at the BPP Law School in central London, shared some of the tricks she uses to save money.
They include looking for reduced items in supermarkets that can be frozen and kept for later, using online platforms to resell or buy clothes, and using apps to accumulate money-saving points, like Nectar card and Clubcard.
Anand recommended options such as getting council tax discounts and using railcards for rail travel.
Advice from Money Saving Expert said students should research the best bank account for them, use websites like Unidays for discounts, and ensure tenancy deposits are protected.
Business
Tariff jitters: US consumer confidence slips in December; inflation and jobs worries deepen – The Times of India
US consumer confidence weakened in December, sliding to its lowest level since President Donald Trump rolled out sweeping tariffs earlier this year, as households grew more anxious about high prices, trade levies and job prospects, according to a survey by the Conference Board.The Conference Board said its consumer confidence index fell 3.8 points to 89.1 in December from an upwardly revised 92.9 in November, AP reported. The reading is close to the 85.7 level recorded in April, when the Trump administration introduced import taxes on key US trading partners, AP reported.Consumers’ assessment of current economic conditions saw a sharper drop. The present situation index fell 9.5 points to 116.8, reflecting growing unease about inflation and employment conditions. Write-in responses to the survey showed that prices and inflation remained the biggest concern for consumers, alongside tariffs.Short-term expectations for income, business conditions and the labour market were little changed at 70.7, but remained well below 80 — a threshold that can signal a recession ahead. This was the 11th straight month that expectations stayed under that level.Perceptions of the job market also weakened. The share of consumers who said jobs were “plentiful” fell to 26.7% in December from 28.2% in November, while those who said jobs were “hard to get” rose to 20.8% from 20.1%.The softer sentiment follows recent labour market data showing mixed signals. Government figures released last week showed the US economy added 64,000 jobs in November after losing 105,000 jobs in October. The unemployment rate climbed to 4.6% last month, its highest level since 2021.Economists say the labour market is stuck in a “low hire, low fire” phase, as companies remain cautious amid uncertainty over tariffs and the lingering effects of high interest rates. Since March, average monthly job creation has slowed to about 35,000, down from 71,000 in the year ended March. Federal Reserve chair Jerome Powell has said he suspects those figures could be revised even lower, AP reported.
The US economy picked up speed over the three months to September, as consumer spending jumped and exports increased.
The world’s largest economy expanded at an annual rate of 4.3%, up from 3.8% in the previous quarter. That was better than expected, and marked the strongest growth in two years.
The figures offer a clearer picture of the state of the US economy heading into the end of the year, after data collection had been delayed by the US government shutdown.
The report showed consumer spending rising by 3.5%, compared with 2.5% in the previous quarter.
“It’s just a way of us giving back to the community,” says a fish and chip shop owner, who is giving away 100 free meals on Christmas Eve.
Raj Khaira, from Southampton, has owned Top Catch fish and chips in Shirley for five years and says he wants to support lonely people in the area.
He says he feels lucky to have a big family but knows for some customers a conversation with a shopkeeper might be the only one they have some days.
He says the shop will give portions of sausage and chips to those in need as a way of “giving back to the people who haven’t got family around them and sometimes can’t afford a hot meal”.
Mr Khaira speaks about working in business all of his life and how much he enjoys meeting “different people every day, from different backgrounds”.
“I’ve done it since I was a young kid so it’s all I really know,” he says.
He adds that many of his customers are elderly and do not have connections over the festive period.
“Christmas for majority of us is probably going to be a joyful and busy day but for some people it’s probably going to be a quiet day,” he says.
After posting about the plans to donate on social media he received a lot of publicity and Mr Khaira is prepared to “probably do more than” 100 meals.
He says the shop has already organised a toy and present drop off to Southampton hospitals this December, with many of the donations coming from customers.
He says: “We’re only where we are as a busy shop because of our community and our lovely customers that come in and sometimes you’ve got to give back and I’m happy to do that.”
Looking back on some of the negative news reported in Shirley earlier this year with the rise in anti-social behaviour in the area, he admits he had suffered.
His shop window was smashed in the summer, but he says: “Christmas time lets us just try and forget that for a minute and just try and have a good time, and reflect back on the year and hopefully next year is going to be a better one.”
Tariff jitters: US consumer confidence slips in December; inflation and jobs worries deepen – The Times of India
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