Motley Fool: A Monster Guide To Student Finances

You know all those habits your parents have that annoy you so much? The ones that make you desperate to get out of the house and into student accommodation? Well, one day you could be humming annoying songs just like your pa does. One of my colleagues wrote recently that some behavioural psychologists reckon it can take just four weeks for a behaviour to become a habit, which, by definition, is hard to reverse.

Financial habits are no exception. If you start university with a poor budget, or none at all, and no knowledge of the financial products you use, it’s easy to rack up large debts. These can be difficult to handle by the time you’ve won your graduation hat. Indeed, your bad money habits are liable to continue for many years afterwards….

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