Credit cards should be avoided while at university, an expert advises.

Prospective students are told to consider their finances to ensure they have a monthly budget in place.

James Falla, director of Thomas Charles, notes that anyone who breaks even while at university has "done very well".

Secured loans could be one means of putting in place a regular monthly repayment plan for students who need additional borrowing.

"If you can avoid taking out a credit card as a student then that is absolutely the right thing to do," Mr Falla asserts.

"Plan what expenditures you know you are going to have and live your life accordingly," he adds.

Mr Falla concedes that there are no "magic wands" to be found when addressing personal finance.

Figures from Credit Action show that the average graduate owes £12,363 when leaving university.

Secured loans could be one means of repaying this for young people with property or parents wishing to help out their offspring.ADNFCR-1287-ID-18356951-ADNFCR

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