Money Doctors
Taking control of your finances and planning ahead can mean less worry and less stress.
The Money Doctors are here to help you plan your finances and manage your money whilst studying. We have produced information to help you to manage your money more effectively.
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We can provide a budget planner to calculate your monthly income and expenditure. Remember that your student loan will be paid in three termly instalments and each instalment has to last for several months
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We have a guide to estimated living costs for an idea of what your student income will need to cover.
Our Money Doctors are based on each campus and are here to help with money issues. We run workshops as well as one-to-one advice on taking control of your finances and gaining financial skills which can last for life.
We will post details of events, activities and workshops around campus or you can contact us for more information.
Tips to minimise your debts
Budgeting tips
It can be tempting when you first get your student loan or bursary to go out and spend. But don’t go crazy! Remember that this money is to pay for your everyday living costs and it has to last.
Our top tips
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Budget, budget, budget! We can’t stress how important this is. Keeping track of your spending can help you avoid getting into debt
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Open a student bank account with an interest-free overdraft. Shop around for the best deals and look past the freebies to the amount of interest-free overdraft you can access and the period after graduation before you need to pay it back
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Visit the Money Saving Expert website which has produced a handy guide for your information
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Join the Students’ Union and use your NUS card to get student discounts. Even if shops/restaurants don’t advertise it, ask, you may be pleasantly surprised!
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Get some part-time and/or vacation work. Our Employability and Career Development team can help you to find suitable part-time or temporary posts
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Pay your most important bills by direct debit. Always pay them first. Once they’re paid you can then work out what you’ve got left to spend
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Open a savings account – make your loan/bursary work for you by earning interest. You could earn over 5% interest on a mini-cash ISA and there are no penalties for transferring money into a current account.
If you get into debt …
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Don’t panic - it can often be resolved through speaking with the company and coming to an agreement
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Don’t ignore it - it will only make things worse
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Do something about it now!
Speak to a Money Doctor to get free, confidential advice. Or you can speak to an adviser at: