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Credit Cards
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Your money in tough times.
Ever wondered where all your money goes?

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Wednesday, 3 March 2010

Paying your benefits or salary onto prepaid cards
Some prepaid card providers have been advertising the benefits of having your salary or state benefits paid onto them. But the charges can be high - make sure you understand the costs and the alternatives.

Student money (Scotland/Northern Ireland/Wales)

Going to university is often the first time you'll be managing your living expenses.

The articles linked to below will help you to understand:

  • the cost of higher education
  • student loans, grants, bursaries and scholarships
  • student accounts and overdrafts
  • day-to-day budgeting as a student, including accommodation, bills, travel and socialising

Getting money
Do you know all the different ways that you can fund your student life? Take time to find out about your options in advance, so you can decide what combination best suits your situation. This may include:

  • student loans - available to anyone taking higher education. You pay them back when you are working after you've graduated
  • grants, bursaries and scholarships - available to certain students; you don't generally need to pay these back
  • working part-time
  • help from your parents; this is a conversation you'll need to have with them
  • special financial products available to students from banks - student bank accounts normally have an interest-free overdraft facility you can use as a source of funds

Managing your money
Money can be tight and it's likely to be hard to stick to your budget. By planning ahead you’ll know what essentials you have to pay for and how much you will have left to spend. It will also help you to borrow responsibly.

Find out more

We've put together a short list of resources you might find useful. This is a cross-section to start you off, but you may want to do some more research. Some of these resources are on other websites, so you need to be aware that the FSA is not responsible for content you find on these websites.

Users can rate articles with between one and five stars; this is not an FSA rating. But we have marked the articles 1-3, based on how detailed they are. If you are looking for a very quick introduction, look for level 1; if you are ready to find out more, go for a 3.

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Articles

Moneymadeclear > Money while you study
Youngscot - Qualifying for support
Directgov – Everything you need to know about student finance
This explains the costs of being a student, and has lots of detail on loans, grants, bursaries, scholarships, awards and benefits. It also has information for part-time students and students with children.
UCAS - Why work?
There is a section here on part time work while studying. It also discusses achieving a balance of work and study.
Student Finance - Northern Ireland
Student Finance - Wales
Directgov
This guide aims to help parents support graduates in their search for work and understand the support available.
UCAS
Student Awards Agency for Scotland
How to apply for funding in Scotland.
University and higher education
This page deals specifically with finance for those living in Scotland, Northern Ireland and Wales. Fees and loans in these countries work differently from in England

Tools and Calculators

UCAS - Budget Calculator
UCAS
This calculator helps you to plan your monthly cashflow as a student.
HM Revenue and Customs - Student
Tax Checker
HMRC
Think you've overpaid tax and are due a repayment? You can use this checker to find out.