When you start University you will be living on a fixed income, so it's a good idea to plan your finances. It might be boring and a bit frightening but keeping a record of your income and outgoings can really help you to budget properly.
By doing this, you will be able to determine how much you have available to spend on non-essential or less important items. Record everything you spend so that you are always aware how little or much you have left for the rest of the week/month. If you are unaccustomed to managing your own money or are trying to manage on less money, then it is easy to overspend quickly.
We advise working out your budget as soon as your student loan arrives, the simplest way to work out your budget is to use a budget planner or ask for advice with any budgeting queries you may have from the Advice and Representation Centre.
If you find yourself struggling don't panic, stay calm, try not to feel guilty or afraid and there's no need to feel embarrassed, help is available.
Ignoring the problem and not taking action will not make the problem go away, it will just get worse, seek help, the Advice and Representation Centre has advisers who will be able to help you take back control.