Students have been offered some debt advice by an industry insider.
Those at university should approach budgeting in the same way as coursework, by breaking down money matters into achievable goals, according to Derek Oakley from Debt Free Direct.
He recommended that students should sit down and work out incomings and outgoings for the academic year, taking food, clothing, bills and travel into account.
Then, money for social spending and non-essential items should be allocated for the rest of the year.
“Ideally, their goal should be to graduate with as little debt as possible, while still enjoying their student years,” he stated.
Student website Push also outlines several ways for students to handle their finances.
Blowing all of a student loan at the beginning of the year will leave people “miserable and bored” later on, it notes.
Sharing cooking and bills with flatmates can also help to reduce costs, it advises.
By Jamie Price