Finance Top Tips

1. Make sure you budget. Think about your income (eg maintenance loan and/or grant, bursaries, scholarship etc.) and think about your expenditure (eg rent, bills, food, insurance). Use a finance calculator to work out how much you have to spend.

2. Think about getting a part-time job (we recommend you work no more than 16 hours a week).

3. Carefully consider which bank account you choose. Never borrow money without checking the interest rate (these can be very high and you could end up owing a lot more money than you borrowed). Look for a bank account that offers an overdraft as the interest rates on these tend to be much lower, student accounts will often offer a free overdraft.

4. When buying resources for your course, look into buying second hand text books or use the library when you can.

5. Check your bank statements regularly and keep records of what you spend so you can keep an eye on your spending and see where you might be able to cut back in the future.

6. Make the most of financial support that’s available to you. Students from lower income households will be entitled to a bursary or fee waiver, and any student with financial difficulties can apply to the University’s hardship fund

7. Avoid using store cards, they tend to have a very high interest rate attached to them so can cost you a lot of money!

8. Many shops and outlets offer a student discount, make sure you use this when you can (10% may not seem like a lot, but it can make a real difference!)

9. Go to the cash point once a week so you avoid making daily trips (you can get your weekly allowance and take certain amounts out on different days of the week).

10. Keep some money aside so you can go out and enjoy yourself!

11. Get in contact with The Advice Centre if you are concerned about money or having finance issues, they’ll be able to help and will point you in the right direction.