Research from Abbey suggests that students are wising up to the increased debt problems they could face because of the credit crunch and taking action accordingly.
The group found that 58% of students have cut back on non-essential purchases such as CDs, DVDs and clothing. 74% are also reducing the amount of money they spend on socialising and looking at ways to enjoy university life without breaking the bank.
Steve Shore from Abbey advises students to also look for the best offers on current accounts and other financial products to make the most of their money and avoid debt.