PPI Claim News - 14/6/2012
PPI Claims: Budgeting is 'vital' for students
Students might be able to avoid credit card charges and bank claims if they are taught how to budget before going to university.
Credit Action chief executive officer Michelle Highman called this skill "vital".
She suggested many people start higher education "feeling financially indestructible", stating this is because a sizable student loan claim has been put into their bank account.
However, "the feeling can be short lived", the expert continued, arguing some people "may begin to panic" when they realise they have to stretch their cash to pay for living costs and essentials over a longer timeframe.
Ms Highman recommended that students try to keep track of their incomings and outgoings to enable them to keep control of their finances.
"Budgeting may seem like a daunting word, but all it really means is planning ahead," the specialist declared.
Recently, she pointed out young adults frequently leave university with debts of some kind, including from bank loans, overdrafts and credit cards.
Amir specialises in personal loans, consumer debt and debt management
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