As a student, especially in your first one or two years it is really hard to miss out on things because of worries around money, especially when you have the safety of an overdraft, especially when some banks allow you to go over by such large sums up to £2000. In the short term it’s so easy to think that you will just work and pay it back when summer comes around, but then when it does there’s so many things you want to do other than work in summer. From personal experience having this safety net made me spend too much money I didn’t actually have which has now left me with a fear of checking my bank account and regular texts from my bank telling me I’ve gone over my overdraft which isn’t ideal.
Someone I knew who recently graduated said to me once that being a student is the only time in your life you can be broke and get away with it so I think as long as you don’t go too overboard you shouldn’t worry too much about spending too much money as a student. Even if you did have a job on the side you wouldn’t be saving that much in the long run. Also most banks allow you a long period to pay off your overdraft so once you graduate it will probably be quite easy to pay back within the time frame. I would definitely say make the most of university and try not to miss out on too much purely for financial reasons if you can, as they will probably be the most fun years of your life. A good money saving tip I would say is to get a Monzo account where they round up what you’ve spent to the nearest pound and then puts the spare change into a savings account. Also you can track where you have spent the most money for example on travel or food to help you see where you can cut spending.