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Top 5 Finance Tips for Students in the UK

FINANCE TIPS FOR STUDENTS Your personal circumstances will determine the financial help that's available to you. FIND QUT WHAT FINANGE YOU'RE ENTITLED TO ADULT MAINTENANCE DEPENDANT SPECIAL GRANTS PARENTS GRANTS SUPPORT LEANING GRANTS ALLOWANCE MAINTENANCE CHILD DISABLED LOANS CARE STUDENTS ALLOWANCE GRANTS Go to the website and look at the loans and grants page to see what help is available to you. GET THE RIGHT STUDENT ACCOUNT Get a bank account with the best 0% overdraft deal If you need to dip into your overdraft, make sure that you're not getting charged for it! Don't go over your overdraft! If you do, you'll have to pay back huge charges and this will just make your finances harder to manage. Don't be swayed by freebies Freebies are great - but make sure you chose your bank account for the right reasons! DON'T BLOW YOUR STUDENT LOAN IN ONE GO Get into good financial habits It's so tempting to use your student loan to splash out on things you want, but you'll need that cash to pay for accommodation, food and travel. Work out how much you need for these things first and if there's any money left over, you can use this to buy clothes or for socialising. Beware of debt traps! Credit cards and store cards feel dangerously close to feeling like free money. Don't be tempted to fund your lifestyle on credit. Charges and fees can quickly build up and before you know it, you'll have debt that you will struggle to repay. The big no, no! No matter how tight your financial situation may be, one of the worst things you could do is take out a payday loan. With some companies charging up to 4,000% APR, the debt can easily spiral out of control if you cannot make repayments on time. Think of your credit ratings Okay, so you may not be thinking of buying a car or a house right now, but one day, you might want to. Constantly applying for credit cards and loans - and not keeping up with repayments - will affect your credit rating, which will affect your chances of getting finance in the future. SHOP SMART! Now is the time to become financially savvy... Don't buy brand new books from the reading list - buy second hand, borrow from the library or share with housemates or friends on the same Sale course Make sure you get a discount on council tax Get TV licence refunds during the summer holidays Shop around for the best deals on gas and electricity if you're in a house share BEST PRICE! Set food budgets and shop around for the best deals - creating meal plans you stick to your budgets Make money from your unwanted goods - sell old mobile phone handsets, CDs, DVDS and clothes SaLe TAKE ADVANTAGE OF STUDENT OFFERS Discounts are one of the best things about being a student. So take advantage of every opportunity that can help you save money! NUS Cards - get money off in shops and restaurants you love Rail cards - travelling home can get expensive if you don't have one of these! 16-25 Ralcard Make voucher sites your friends - why pay full price when you can get money off? GROUPON Student nights - great for cut price entry and cheap drinks! SOURCES Baines & Ernst BAINES & ERNST, DIRECT GOV, MONEY SAVING EXPERT, NUS.ORG -Experts on your side THE TOP

Top 5 Finance Tips for Students in the UK

shared by Guillaume_Perton on Mar 05
Students know that education comes at a price so we have given you a cheat sheet to help you stay on top of your finances.


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