The years spent at university may well turn out to be the best and most memorable of your life, but too many youngsters ruin the experience by failing to control their money.
Despite what many people think, being a student is far from easy – especially if you are desperate for a good grade.
Juggling your work with your financial responsibilities is no fun at all and many youngsters have a habit of burying their head in the sand over their monetary situation.
Leaders at multinational financial services company Wells Fargo have insisted that these individuals stand the best chance of avoiding debt if they sit down with their parents and work out a detailed budget.
All too often, people account for accommodation and tuition costs, but then fail to factor in living and recreational expenses. This is why people end up surviving on cheap tins of baked beans for weeks on end.
The firm also advised youngsters to assess their student banking options and make sure any money from summer work is used to top up your balance.
Have a question about student bank accounts? Ask the money gurus at Mozo Answers.