Student finance worries can be eased with savvy spending

Wed, 15 Jun 2011

Those at university or college who are worried whether their student finance will be enough to see them through to the end of their course might be wise to listen to Informed Choice.

According to the financial planning advisors, Brits should be looking to reduce their spending to bring it in line with inflation.

Chartered financial planner Martin Bamford urged students to change their shopping habits to help look after their bank balance .

"There are ways to reduce expenditure in an inflationary environment, if you are prepared to change the nature of the things you purchase," he said.

The expert noted that simply spending on things that you need, rather than what you want[,] will make a huge difference to bank statements.

"If you spend a large amount of your budget on those items increasing in price the most, such as food and fuel, then certainly you will be feeling the squeeze on your household income, " he said.

The latest inflation figures from the Office for National Statistics showed that the consumer price index (CPI) stood at 4.5 per cent, unchanged from May.
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