Starting your university career may be the first time that you have been in control of your finances. You will probably be on a tight budget. Although your finances are not directly related to your academic career, if you have financial problems the stress can affect your work.

Most banks have branches with student advisors. They can help with information on student accounts and products such as low cost overdraft facilities. They can also help with budget planning. When opening an account, shop around for the best account and services, not the best free gift.

If you are getting into difficulties, get help as soon as possible. Your bank would rather hear from you before you reach a critical situation.

It is difficult to calculate a monthly budget as your income and expenditure will vary from month to month, however putting figures down on paper can help. Take control with the Budget Planner Editable Excel Worksheet.

Top Tips for Financial Planning

DO

• Withdraw enough cash for a week and don't spend any more.
• Only use your credit or debit card for planned purchases, not for impulse buys.
• Check your balance regularly so you are always aware of how much money you have spent.
• Shop with friends and take advantage of 2 for 1 offers and cheaper bulk purchases.
• Buy own brands or economy products.
• Put money aside for electricity, gas and 'phone bills. Check your supplier is the best value.
• Try to buy second hand books for your course.
• Use your NUS card for discounts at some cinemas, exhibitions, concerts and shops.
• Be energy efficient to save money on your fuel bills and help the environment. Turning your heating thermostat down by 1°C could save up to £30/year. For other energy savings visit www.saveenergy.co.uk

DON'T

• Waste money on expensive lunches. If you spend £3/day on food at university, it works out at roughly £60/month or £420/academic year. A homemade sandwich could save a lot of money.
• Let a part-time job interfere with your studies. Remember why you're here!