Research from Barclays shows that students stress levels have increased considerably due to financial worries. An example of this is anxiety levels peaking at 61%, Mental health at 55% and Sleep deprivation at 52%, money even impact their relationships at 34% and huge 83% saying they’re worried about running out of money in their first term of Uni. To be exact, over 41% of students expose that they find managing money one of the most stressful parts of their whole university experience, 44% of students aren’t sure where to go for guidance and assistance on handling their money , adding to their stress while juggling studies, exams and social life.
To assist students with their finances, Barclays have put together a trial of service for students offering them the chance to attend a free puppy session in branch which would possibly reduce stress, putting the students at ease.
The sessions have been trialed for research, the bank has revealed that despite 76% of students has been organised and started to plan how they would spend their money finding the best way to save their money and spend wisely while 39% have completely ran out of money in their first term of Uni. Additionally, 64% of students emptied their bank accounts half way through their Uni year; 10% have splashed their cash after freshers week with the whole term ahead of them. Majority of students, 94%, have mentioned that they used supplement their student loan to handle living costs and their daily University life; 41% choose to apply for a part time term time job so that they can handle the expenses of university. Moreover, 52% of students rely on their parents and family to assist and guide them financially which could also stress their parents and family out as well.
About Stuart Mosley
Stuart Mosley (CeFA, CeMap, CLTM) founded SJ Financial Solutions in June 2005 having spent 12 years with big corporates such as Halifax and Santander. He felt the personal touch and straight speaking was missing from financial and mortgage advice services and set up SJ Financial Solutions to change this.
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