13 September 2010

Students get advice on Financial Planning in a bid to keep their debts to a minimum

Students get advice on Financial Planning in a bid to keep their debts to a minimum

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Students struggling to graduate without unmanageable debts are being offered budgeting advice by a new offer from Equifax recently launched.

Equifax is urging students to keep an eye on their finances as planning is key to preventing the debt becoming unmanageable. There top tips include making a budget and sticking to it, and also ensuring you regularly keep an eye on it.

They also recommend checking bank balances often, making the most out of discounts and looking out for the best overdraft offers on the market, as well as committing to a part-time job.

The economic downturn means students may not be able to rely on their parents for rescue funding if they overspend or getting a well paid job as soon as they graduate, said Neil Munroe, Equifax external director.

In the current climate, it is more vital than ever that young people setting out on their own get to grips with managing their money. This doesnt mean staying in and eating beans on toast every night. With a little careful preparation and budgeting, students can avoid getting into financial difficulty.

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