Midweek Money: Ten Financial Tips for Students

1. Draw up a financial plan for your first term and, if you are really keen, for the entire academic year. Budgeting is the key to avoiding financial headaches, so monitor your finances.

2. It is certainly not necessary to buy every book on a reading list. Ask your course tutor or last year's students which are the essential buys. You will also save by buying secondhand books.

3. Freshers' Week is a time for socialising, but if your budget is very tight, watch your wallet.

4. If you get a part time job during the term, do not commit yourself to an unreasonable number of hours.

5. While it is tempting to join every club and society that remotely interests you, bear in mind that time is limited. Paying the subscription for a club you will never attend is a waste of money.

6. A credit card can ruin your wealth, but used wisely it can assist cash flow. Keep a note of spending and settle the bill each month.

7. Apply for the full Student Loan in one go. Place two-thirds in a savings account until you need the money in your second and third terms.

8. Take full advantage of student concessions.

9. If you are self-catering, go for supermarkets' own brands and markets. Look out for special offers.

10. Money problems are emotionally draining; your work and health will suffer. Seek help quickly.