How prepaid cards offer students a financial cushion

Managing your finances responsibly is one of the easiest ways to guarantee an enjoyable student lifestyle. Making sure you don’t spend the entirety of your student loan in Fresher’s Week is important to ensure there are no money worries regarding rent, household bills, and groceries and socialising with friends throughout term time.

Instead of using your student overdraft as a financial cushion in times of trouble why not take the lead of many other university students and stick to a weekly or monthly allowance, ensuring you save money in your student bank account for a rainy day.

One of the most effective tools available on the market for consumers to save money is a prepaid card. Arguably the fastest growing consumer product in the UK at present, a prepaid card allows students to load funds direct from their student bank account onto their card to help stick to a strict, responsible budget – leaving the rest of their student loan sitting safely in the bank.

With a prepaid card students can review and monitor their outgoings and spot any areas where they can rein in spending, be it grocery shopping or perhaps spending money for nights out at the Student Union.

You may be concerned at the ease of access to your money on a prepaid card. However, they work in much the same manner as a credit or debit card with a Chip & Pin at High Street tills and worldwide ATM access.

The market leading prepaid cards in the UK such as the Pockit prepaid MasterCard® don’t just offer their cardholders a convenient place to store money; they provide innovative ways of making their money go further.

Pay monthly Pockit MasterCard® holders also have the opportunity to make big savings that can make a significant difference to both weekly and monthly student budgets.

Whether it’s discounted electricity and gas rates through First Utility, car insurance through Aviva or home broadband and telephone deals through TalkTalk, these exclusive discounts are just the tip of the iceberg for Pockit cardholders.

For students who like to hit the High Street after a long day of studying you can make great savings shopping with your Pockit MasterCard® thanks to retail cashback. With generous cashback deals of up to 10% you can make your prepaid card budget stretch further and ensure your student loan serves you well.

2 comments

  1. Laura says:

    I am a student and I can’t even get a credit card because I don’t have a full time job. It’s even better that way because the last thing I need is an overdraft.
    I only use prepaid card on the Internet. It helps me to have a better overview of my money and I know it is safer that way.
    There are lots of prepaid cards that charge a huge ammount of money for all kinds of hidden fees – so be careful and read all the terms and conditions before you start using a new prepaid card.
    The safest, cheapes and easiest prepaid card I found is Paysafecard. You can buy it in normal newsalers’ and it has no hidden fees.

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