Student loans are a pain to pay off. But they can be equally hard to manage, especially during those college years when money is tight and the extra cash is just sitting in your account. If you are not careful how you manage the money from your student loan while you are in college it will definitely push you down the road to crushing debt. If you are unsure of how to handle this you can ask for debt advice Scotlandfor a period of time.
Save money by using public transport
The extra money you have at hand is not your own. This is the primary thing to remember. If you do not have the extra cash to keep and maintain a car, and the cash for burning the fuel, do not keep one. Public transports in the UK are excellent and cheap. Moreover, as a student, you can get a railcard at almost one-third cost. A national express coach card will be 30 percent off. You can save hundreds of dollars by traveling on public transport.
Utilize student discounts
An NUS Extra card which costs only £12 will unlock food, essentials, and even entertainment discounts. Sign up for various sites like savethestudent.org which will keep you updated on the best and latest deals for affording discounts at various places.
Get a bank account for students
Make sure you create a bank account available for students, which will allow you interest-free overdraft. Most of the banks offer it and some of the students account even allow an overdraft amount of up to £3,000, free of interest if you have the credit rating to show for it. Check the conditions applicable before signing up. You can draw the overdraft amount and keep it into a student account if you are absolutely sure you will not squander the money.