Money worries

Dealing with debt

Debt is unfortunately a fact of life for students at university. However, not all debt is the same and it is important to understand that there is a difference between good and bad debt. For example, most people will have a mortgage at some point in their lives and this is not necessarily bad; in fact it is a good thing. Your student loans are not the same as other debts so shouldn’t be ‘lumped in’ with other debts when you are thinking about your money. In addition, a student overdraft will not need to be repaid while you are studying, so while you need to recognise this is not free money, is not something to be overly concerned about while you are a student.

The debts that may concern you are those that charge high interest (such as credit cards or pay day loans) and it is good if you can make sure you don’t turn to these forms of credit unless you have no other option. Even when you think you don’t have another option stop and think about it. Ask for help from a reputable organisation.

National Debtline is a charity that offers free advice and guidance about managing your money and dealing with debt.

The main thing to remember is that if you need help, you just need to ask for it. The university employs staff that can signpost you to external services, you just need to ask if you are not sure where to turn.

Gambling

Gambling is far more accessible than it used to be and this, combined with more free time, freedom and money are some of the reasons university students are seen to be in an at risk group of gambling addiction.

Gamcare is a national charity that can support you or your family. The support is confidential and can be online or on the phone. In some circumstances, you may be able to access face to face support too.

Contact us

If you are experiencing money worries please seek support. Our team can provide advice and guidance, as well as signposting to external organisations.

Book an appointment with an Advisor. We offer face-to-face, telephone and virtual appointments.

Alternatively, you can email us: moneyadvice@ljmu.ac.uk or call us: 0151 231 3153 or 0151 231 3154.