Students warned over financial pitfalls

As the A-Level results day approaches, Lisa Taylor, from the money search engine Moneyfacts.co.uk, suggests that students should make sure they are getting a good deal from their banks when they set off to study.

And for those who take out loans or use credit cards, it is important to spend time assessing the available options before entering a particular deal, Ms Taylor insists.

“If you let things get out of control, you must remember financial mistakes at university are not wiped clean, and they can come back to haunt you later in life,” she said.

“Getting it right financially can be one step towards surviving those student years.”

A report from National Savings & Investments showed recently that thousands of British consumers do not worry about how much they spend in the hope that they will earn more money later in life.