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Debt advice centre

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Debt advice for students

At a glance

There are a few simple things you can do to help take the sting out of managing your finances.

Students dos and don’ts

Debt advice centre

Here are some useful tips for managing your money.

Dos

Do make sure you understand how the student loan system works
Do keep a budget
Do write down your spending
Do prioritise your spending. Rent comes before a Friday night out!
Do get a student bank account with free banking facilities
Do reply to letters from your bank, building society or creditors
Do acknowledge if you’re having financial difficulties. It can affect you emotionally and distract you from your studies
Do get advice if you need it
Do allow some money for enjoying life

Don'ts

Don't spend all your money at the beginning of the term. Spread it over the term
Don't spend on luxuries before paying for the essentials
Don't ignore signs that your spending is getting out of control
Don't guess at what your spending is
Don't be afraid to talk to someone if you’re having problems
Don't make promises to pay when you know you can’t
Don't exceed your overdraft limit without prior authorisation from your bank

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