1. Finances

2. What is a student loan?
Is the thought of a student loan a scary prospect?
Martin Lewis from Moneysavingexpert explains what it is and the implications for your financial future
s/student-loans-tuition-fees-changes#video

3. How to survive on your own
What do you need to spend money on?
List everything you can think of that you will need to spend your student loan/pay packet on in a month
E.g. rent, fees, food, transport, phone etc.

4. Do you have to have it?
HAVE TO SPEND
CHOOSE TO SPEND

5. Students estimate the cost of these items in pairs, report back to the class.

6. How much does it cost?
As a group, compile a shopping list of a typical week in university/your own place

7. How to Budget One budgeting sheet you could use

8. What money can I get Student Loan Part Time Job Parents Overdraft
Credit Cards/ Store Cards
university calculator

9. The perils of credit and debit cards
I’ll get a store card its only 19.9% APR.
And I don’t have to pay all of it off each week.
Good idea or Bad idea
How long would it take to repay £500, and how much would it cost, using a minimum payment.
credit card repayment calculator
BEWARE, DANGER! Borrow £3,000 at age 21 and you'll be 50 before it clears! That's what happens if you just make minimum credit cards payments - their evil genius can lock you in perpetual debt, boosting banks' profits astronomically

10. HOWEVER
If you can manage a credit card by paying the bill every month, you will begin a credit history
This will enable you to take out a loan for a car, for example, when you begin work
You can also earn ‘points’ or rewards
BUT never spend more than you can pay