The 'D' word

Before I came to Swansea University, a top consideration of mine was how I was going to handle my finances.

The thought of being a student had always flashed the red lights at me with the words in bold 'huge debt'. However, when you compare it to what you will be getting at the end of your degree, it is totally worth it!

You're not just getting the degree and the achievement of getting one, but you're getting the experience of living an independent life and having the time of your life.

However, with this independency comes keeping track of your finances, to be able to have a good time.

I am only just coming to the end of my first year and already learnt so much about coping with my finances.

Village life and Italian food

I have spent this year in Swansea University's Student Village. It may be half an hour's walk from the University campus, but the transport is really good, running on a regular basis and the termly/yearly tickets you can get have saved me a fortune.

The rent for the student village is a lot cheaper than living on campus although of course you don't get any meals included. Food you have to manage yourself, and when finances are low, pasta is a common thing on the menu.

The best thing about living on either the University campus, or in the Student Village is you don't have to worry about paying any bills weekly or monthly as you just pay a one off instalment each term to cover your rent and bills.

I've found that first year students are more fussed about where their next nights drinking money is coming from rather than their rent money.

Parents, internet banking and student deals

Before I left for University, I didn't stop hearing from my parents about how important it would be to keep a budget. And as much as I hate to admit it, they were right!

You don't want to suddenly check your bank account and wonder where several hundred pounds has gone. Planning a budget doesn't only save you money, but it makes your life easier and you get a more enjoyable time out of University.

I do recommend internet banking as it is a brilliant way of keeping up-to-date with your finances on a daily basis and checking what has gone out, and, if your lucky, checking if anything has gone in!

The hardest part about having a budget is keeping to it, so make sure you use some strong will-power.

A huge expenditure I have found is obviously going out and socialising. It is quite shocking how much you can spend on a night out on the town.

Especially in your first year because it is the year to meet lots of new people and have all the nights out before you need to get down to some real work.

Take advantage of the deals the clubs provide students. 'Time' on a regular basis offers discounts on entry if you show your NUS card, and there are always different drinks offers available in different bars.

Try to budget how much your going to spend on a night out as when intoxicated you may get carried away.

But always remember to have enough money left for a taxi. I wouldn't really advise walking home from town at the early hours in the morning.

Even if you don't want to go out, either the Student Union bar at the student village or the one on campus is highly recommended. Especially for cheap drinks!

Credit cards and part-time work

Stay away from credit cards as they are a recipe for disaster. You are already going to have a student debt at the end of your degree, so you don't need a huge credit card debt on top of this as well.

If you really become strapped for cash, then a brilliant place to visit is the University Jobshop. There is always something for everyone there.

And if a bit of extra pocket money would be good, then a part-time job is a good thing to have and it is always an extra thing to put down on that CV.

At the end of the day, if you prepare yourself for keeping finances and being aware of how much you have and how much you have to pay out then your finances will not have to stop you having fun at University.

Make sure that you have arranged a reasonable overdraft with your bank even if you think you won't go into it. Emergencies always arise so you never know what can happen.

The banks know what finances students need and they are always there to help. The same goes to the University. So, don't let your finances dictate to you the whole time. Enjoy yourself!

Radio 1: One Life - Your Finances

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