Abbey: Students taking action to combat the credit crunch
www.moneynews.co.uk > General finance > Abbey: Students taking action to combat the credit crunch
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Money News |
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Abbey: Students taking action to combat the credit crunch
Wed 24th Sep 2008
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According to the study, 57 per cent of students are capitalising on money-off offers, while 74 per cent are reducing the amount they spend on entertainment and socialising.
In addition, half plan to make money by selling possessions on eBay.
And 58 per cent are spending less on non-essentials such as CDs, DVDs and clothes, while nine per cent will be driving less in an effort to cut costs.
Steve Shore, Abbey director of banking, said it is important for students to set themselves a strict budget and live by it.
He also advised them to shop around for the best financial products, such as bank accounts.
In related news, research by the Financial Services Authority (FSA) has found that a third of students are constantly overdrawn.
Chris Pond, FSA director of financial capability, said that the body's Money Doctors scheme for students could help them learn to manage their finances better.
Related News : General finance |
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Related News : Santander |
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