- Personal finance experts have offered essential advice to new university students managing their budgets independently for the first time.
- Experts advise freshers to plan around known costs and student loans, track spending with free apps, and build a savings cushion for emergencies.
- Students are warned against spending their initial loan installment all at once and should instead calculate a realistic weekly allowance.
- Freshers should be cautious during freshers' week to avoid committing to costly subscriptions, society fees, or unused memberships.
- Parents are encouraged to set clear boundaries on financial support, with research showing families contribute an average of £132 a month to cover student costs.
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