Managing your money

Do

• speak to a NatWest Student Manager to get help planning your finances
• live in university accommodation, if possible - it's usually cheaper
• shop for food with friends - buying in bulk can save money
• buy the economy value brands in supermarkets
• put money aside regularly for gas, electricity and phone bills - and pay them on time. See e-savings 
• if you have a mobile phone, watch out for the high call charges and other costs
• buy stationery from the Student Union shop - it's usually cheaper
• claim all the discounts you can - your NUS and ISIC card entitles you to discounts at many cinemas, clubs, exhibitions, gigs, shops and on public transport
• if possible, cycle or walk to university
• keep a regular check on your bank account by phone, online or cash machine
• if you're employed, check whether you have to fill in Inland Revenue form P38(S) so that tax will not be taken off your earnings
• if you have a savings account, make sure that you've filled in form R85 so that interest is paid gross rather than having tax deducted
• try to avoid buying new course books - buy second hand books from students and university book shops

Don't

• run up an overdraft or go over your overdraft limit without speaking to your NatWest Student Manager - you may find that you're paying extra interest
• run up a massive debt in the first couple of months - even though it's tempting to go out a lot
• commit yourself to a finance company, personal loan or interest-free loan without checking whether you can afford the repayments
• take on heavy commitments that may be beyond your budget, such as hi-fi, cars and furniture
• use credit cards as another source of funding

Topping up your income

If you need extra cash in term time, it's vital to avoid part-time work eating into your study time or making you too tired to study properly.

One idea is to work in a bar for a few nights a week - it's sociable and helps you to avoid spending your money in the evenings.

Another possibility is to apply to a company for sponsorship. This is a long, hard process, but if you can track down a company that is interested in someone with your qualifications once you graduate, you may receive training and work experience as well as that all-important cash.

If you need to go abroad for a year as part of your degree, the 'Socrates - Erasmus' funding scheme may give you financial help for between three months to a year; you can apply through your university.