Good spending habits 'important at university'

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Good spending habits 'important at university'

It is imperative that students take the time to sort out their finances when attending university in order to avoid falling into too much debt, it has been claimed.

Paul Lewis, vice president of Credit Confidential, said it is increasingly important for students to sit down and budget effectively at the start of each term. They should parcel out their funds week by week to ensure they have enough to live off until their next cash injection.

He commented: "Any student who's looking to sign up to a bank should look for as sizeable and favourable a bank overdraft as possible, because that will give them the best long-term value."

According to a recent survey by Credit Confidential, freshers this year are spending 24.8 per cent more on their academic texts than those surveyed a year ago.

In addition, the results showed that 42 per cent are spending less on alcohol - highlighting the impact the downturn is having on students focusing on their studies rather than having a good time.

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