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When your first student payment arrives in your bank account, it can feel like Christmas has come early. However try not to fall into the trap of blowing a substantial amount in your first week of non-stop partying.
If you've made it through freshers week and your account is still in the plus, then you have made it over the first big financial hurdle. However, how to cope with the rest of the year on a strict budget, without compromising your social life, can be tough.
The Guardian has compiled a list of top tips for surviving your first year of university. Here our favourite:
1) Never take a credit card with you on a night out, you will only be tempted to use it later in the night when you have had one too many. Take out enough cash for your evening and save some in a different section of your wallet for the taxi home.
2) Don't be too generous and suddenly decide that the next round is on you. This is a recipe for disaster and don't expect people to repay the favour.
3) Don't try and keep up with other peoples spending. Students are in all kinds of different financial situations. If you try to keep up with wealthier friends, you will struggle throughout the year.
4) Budgeting is boring, but essential. Work out how much you need to live on each week and try your hardest to stick to it. Avoid spending money on silly things like Starbucks and lunches which all add up.
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Read the article here: Student finance: A budget is key to your survival
on 17 August 2012