If you've picked up your A-level results and are planning on going to university in the autumn, we've some tips to help you get on top of your finances before you leave home.
We partnered with The National Student for a Twitter chat so current students could ask their questions about money. Here's a selection of our answers.
Budgeting as a student
@NationalStudent @annekahoneyball Overspending is easy to do when you're short on cash. If you're heading out leave the cards at home 1/3
— Money Advice Service (@YourMoneyAdvice) August 11, 2016
@NationalStudent @annekahoneyball Just take out the cash you can afford to spend 2/3
— Money Advice Service (@YourMoneyAdvice) August 11, 2016
@NationalStudent @annekahoneyball You can set yourself a weekly limit too, so you know you’ll have enough to make it through the month 3/3
— Money Advice Service (@YourMoneyAdvice) August 11, 2016
Credit cards when you're a student
@NationalStudent @DannyWittenberg You probably don’t have much of a credit history just out of school, so credit cards can help build it 1/2
— Money Advice Service (@YourMoneyAdvice) August 11, 2016
@NationalStudent @DannyWittenberg BUT only spend what you can afford, and pay off in full each month.https://t.co/AG7cFXr3jL 2/2
— Money Advice Service (@YourMoneyAdvice) August 11, 2016
@NationalStudent When choosing a bank it’s vital to get an account that works for you when it comes to branch access, overdraft limits etc
— Money Advice Service (@YourMoneyAdvice) August 11, 2016
@NationalStudent but these really are just a few of the things. We have a lot more info here https://t.co/ZlZoeGkJJH
— Money Advice Service (@YourMoneyAdvice) August 11, 2016
Insurance as a student
@NationalStudent @charleewins First thing is find out if you're covered on your parents' home insurance
— Money Advice Service (@YourMoneyAdvice) August 11, 2016
@NationalStudent @charleewins If not, it's important to shop around to get the best cover and price https://t.co/CP8k68RU3E
— Money Advice Service (@YourMoneyAdvice) August 11, 2016
Emergency help as a student
@NationalStudent Talk to your Student Union or uni support teams to see if they have bursaries or short-term loans to help tide you over 1/2
— Money Advice Service (@YourMoneyAdvice) August 11, 2016
@NationalStudent Most importantly, avoid high cost credit and loans. They can be very expensive if you can’t pay them back 2/2
— Money Advice Service (@YourMoneyAdvice) August 11, 2016
@NationalStudent Here are some alternatives to payday loans: https://t.co/rMOqRDdlUI
— Money Advice Service (@YourMoneyAdvice) August 11, 2016
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