University life in South Africa is often described as exciting and full of promise — but for many students, it also comes with serious financial stress. Between paying for tuition, rent, food, transport, textbooks, and other essentials, it’s easy to feel overwhelmed, especially if you don’t have a steady source of income or financial support. If not managed properly, financial stress can impact your academic performance, mental health, and even your physical well-being.
How to Handle Financial Stress During University
This guide offers practical steps South African university students can take to manage financial stress effectively.
1. Create a Realistic Budget
Start by listing all your income sources — such as NSFAS funding, bursaries, part-time job wages, or allowances from family. Then, list your monthly expenses, including rent, food, transport, data, toiletries, and stationery. Once you know how much you earn and spend, you can prioritise essentials and cut unnecessary costs.
There are free apps like 22seven (linked to South African banks) or spreadsheets that can help you track your spending and stick to your budget. Reviewing your budget monthly also helps you adjust for any changes.
2. Access Financial Aid and Support Services
If you’re struggling financially, don’t keep it to yourself. Most South African universities have financial aid offices or student wellness departments where you can enquire about:
- Emergency funding or food assistance
- NSFAS status and appeals
- Institutional bursaries or merit awards
- Counselling services for financial stress
Always keep your documents up to date (ID, proof of income, academic transcripts) so you’re ready to apply for help when needed.
3. Cut Costs Without Sacrificing Essentials
Reducing your spending doesn’t mean depriving yourself — it means being smart. Here are some cost-saving tips:
- Use student discounts on transport, meals, events, and subscriptions like Spotify or Showmax.
- Buy second-hand textbooks or download free online versions where available.
- Cook meals in bulk and avoid expensive takeaways or vending machine snacks.
- Share accommodation or transport costs with fellow students when possible.
Even small changes — like switching to more affordable cellphone data packages — can ease your financial load.
Read more: How to Increase Your Student Loan Amount: A Guide for NSFAS and Other Lenders
4. Look for Part-Time or Freelance Work
A part-time job, tutoring gig, or side hustle can make a big difference. Many South African students earn extra income by:
- Working as waiters, cashiers, or retail assistants
- Offering academic tutoring in subjects they’re strong in
- Starting small businesses on campus (like selling snacks or offering haircuts)
- Registering on freelance platforms like Upwork or NoSweat
Make sure your job doesn’t interfere with your academic responsibilities. The key is to manage your time wisely.
5. Avoid Debt Traps
When finances get tight, it may be tempting to take out personal loans, use clothing accounts, or borrow from loan sharks. These options often lead to even more financial stress.
If you must borrow, first explore safer options such as:
- NSFAS or bank student loans with favourable repayment terms
- Family or friends, if you have a repayment plan in place
- Bursaries that cover full costs, such as those from companies like Funza Lushaka, Sasol, or ABSA
Before signing any credit agreement, read the terms carefully and seek advice if needed.
6. Take Care of Your Mental Health
Financial stress can lead to anxiety, depression, and burnout. It’s important to talk about it and seek help when needed. Many universities offer free or low-cost counselling. Support groups and student forums can also be comforting — knowing you’re not alone makes a big difference.
Practices like journaling, exercising, and meditating can help manage stress. Keeping a healthy routine with enough sleep and good nutrition also strengthens your ability to cope.
Read more: Side Hustles That Can Boost Your Income as a Student
Final Thoughts
Handling financial stress during university in South Africa requires planning, resourcefulness, and support. Don’t be afraid to ask for help — whether it’s from your university, your family, or your peers. By budgeting wisely, avoiding unnecessary debt, working part-time, and staying mentally resilient, you can make it through your university journey without letting financial challenges derail your goals.
