When student tuition fees increased at the beginning of 2015, a national debate was sparked concerning the value of loans extended to aspiring graduates. While some suggested that such fees were extortionate and not in line with the quality of the education they would receive, for example, others celebrated the flexibility of the repayment terms and the fairness of the system as a whole.

The consequences of student loans are hard to ignore, however, especially with reports now suggesting that the notion of adults living at home with their parents will become the norm by the year 2025. More specifically, nearly one-third of graduates aged under 35 will find themselves living back at home within the next decade, as the rising cost of property and the burden of student debt makes the cost of independence too much to bear.

Can Graduates avoid the student loan trap?

With an estimated 3.8 million 20 to 34-year olds likely to be living with their parents after graduation, there is clearly an issue that needs to be addressed. The question that remains is who should shoulder the burden of negating the impact that student loans place on individuals once they enter the world of work?

While some may place the responsibility elsewhere, there is reason to believe that students themselves should take steps to take control of their financial destiny and negate the consequences of costly tuition.

So how can today’s generation of cash-poor students achieve this lofty aim? Consider the following ideas: –

Budget, plan and embrace the concept of mind-mapping

While this may sound obvious, the pressures of studying and the rigours of campus life can make it difficult to consider complexities such as finance. This is crucial if you are to minimise the impact of student borrowing, however, as budgeting can help you to save as much of your money as possible and make future repayment easier.

If you are new to budgeting, however, you may want to consider a technique known as mind-mapping. This is widely used in modern business, as is essentially a visual representation of your thoughts and decision-making process. By highlighting the triggers for impulse buys and recording your spending decisions on paper, you can begin to see where money can be saved and change your behaviour as a consumer. If all fails you can always refinance your loan. Refinancing means that you take out another loan from a private lender with much better rates, and with it pay off your original loan. Sometimes parents take out loans for their kids. They are easier to get, but parent plus loan rates are usually much higher. It would be a good idea to refinance it or merge it with other loans to get better rates.

Alongside accurate data concerning incomings and outgoings, this can help you to budget your income and optimise its impact.

Consider short-term Borrowing where appropriate

Occasionally, you may need to take on a manageable, short-term debt in order to cope with larger, long-term liabilities that are accumulating interest. While this should be done with caution, if used responsibly then short-term lending can deliver financial relief and help you to regain control of your income.

There are two key stages to achieving this. The first is to understand the nature of short-term lending, which is unsecured and generally subject to a slightly higher level of interest than normal alternatives. It must also be repaid within a fixed time to avoid charges, so it is usually best served when clearing unexpected, one-off bills rather than supplementing an existing lifestyle.

The next step is to identify a provider, with some such as Smart-Pig standing out. This was the first short-term lender to be verified by the FCA in the UK, which in turn means that it offers peace of mind and a viable solution to customers.

Consider selling a marketable skill or product

Not only there an estimated 1.4 million freelancers in the UK, but many of these have sought to embellish their earnings by securing an additional source of income. This is something that may appeal to students with an entrepreneurial or aspirational bent, while it also has the potential to boost your savings potential over time.

While studying must remain the primary focus for students, those who are proactive, determined and organised can at least create some time to invest in lucrative activities. Whether this revolves around the initiation of a part-time venture, marketing a core skill on the freelance market or investing in passive income streams (such as financial market investment), the key is to participate in carefully selected and structured activities that deliver a return.

Just be sure to make your decision wisely, while research specific markets to determine whether there is a viable demand or opportunity to generate income.

As the value of your car continues to decline in relation to its’ age, it is not uncommon for the number plate displayed on a car to become a bigger source of cash than the vehicle itself.

Private number plates – otherwise known as vanity plates – are sequences of letters and numbers that can be configured to display names, words, initials and short phrases.

It’s been proven that private number plates have the ability to increase significantly in value as the years pass, but is it possible to receive a decent return on your investment when you purchase a vanity plate?

We share why private number plates can be a great investment, along with how to predict the amount you can be expecting to receive in a few years’ time:

Why invest in a number plate?

Because no two number plates are the same, it is guaranteed that your personalised plate is truly unique (and will be forever!). This means that their value is only likely to increase over time due to desirability being the main factor in which a plate sells for.

The stress-free nature that comes with purchasing a private number plate means that the investment process is made simple. No matter where you display the plate, how often the vehicle it is used on is driven or the car it is displayed on changes, the price in which it can expect to sell for remains unaffected.

Might have to invest in a private number plate soon

— Craig (@craigmooo) December 26, 2015

Successful investments

Despite the growing number of celebrities that are investing in personalised number plates, normal people with an interest in finance are turning to number plates to earn extra income.

Let’s take the number plate “ELV 1S” – it was purchased in 1990 for £75,000 and is now worth an estimated £100,000, resulting in 33% more cash than originally invested.

However, you don’t need a such a large sum of cash to invest (or wait for such a long period of time before selling).

The number plate “ATT I4H” was bought for £1,101 in October 2015 and sold for a massive £8,670 just two months later in December.

Estimating your return on investment

It is highly unlikely that the standard number plate in which you receive when purchasing your car will be worth a substantial amount if you come to sell it in a few years.

There are a few common names, letters and numbers that you should look out for when searching for a plate to invest in to receive the highest possible return.

These can include:

Competition and rarity

The popularity of your number plate is the number one factor in which its’ expected return can be calculated.

Common names, initials and letters that can be used to signify words are amongst the most popular, with names like John, Sarah, Jane and Chelsea expecting to be worth the most.

Number plate business about to boom, invest now

— BOS the Gaffer (@bareng_) May 21, 2015

Number plates of this nature are likely to have a strong following. This can also influence their high prices.

Impact

The impact in which a number plate gives off is also an indication in how much can be worth.

Let’s take the plate “25 O” – the most expensive private plate ever sold in a UK auction. It was purchased for over £500,000 in 2014 with the main reason being the “wow-factor” that it gives off.

Generally speaking, the shorter the plate, the more it is worth. People are prepared to pay a lot of money for a high-impact reg plate and if you manage to grab one for a reasonably low price, you could be in with the chance of getting a huge ROI!

To find out more about investing in number plates, get in touch with Platehunter – an online seller of private plates – and find your ideal match today.

31% of Americans have admitted to eating food that is past its sell by date to make money go further, brand new research has revealed.

A surveyed analysing the spending and saving habits of over 1000 US citizens found that 42% have bought and worn used clothes to save money, while a quarter have risked their lives by driving a faulty car to save money on repairs.

360couponcodes.com, who commissioned the research, also revealed that Americans frequently take freebies just to cut costs.

When asked what items they take, American’s said the most common items were napkins, ketchup sachets and pens, followed by plastic cutlery, toiletries and packets of sugar. These acts were considered a moral grey area by those surveyed, with less than a quarter of Americans agreeing that taking the above items for hotels or food chains is stealing.

Mike Meade CEO from 360couponcodes.com said “The study results we’ve received are interesting as it seems Americans, like most people, enjoy getting a good deal, even when making the simplest of purchases.”

Almost a third of thrifty Americans stated they review their budget several times a week to stay on top of things, while more than 80% claimed they shop at dollar stores to avoid going over their budget.

The survey also revealed that penny pinching has a negative effect on people’s family lives, with one in four couples surveyed admitting they’ve had arguments caused by a partner’s attempts to save money.

A third of those surveys also admitted to sacrificing their social life to make ends meet.

Meade added: “Making our money go as far as possible is important to everyone. It’s important to keep things in perspective and find the right balance between finding easy ways to seek out the best deals and enjoying spending the money that Americans work very hard to earn.”

In March, it was revealed that nearly half of American children are currently living near the poverty line according to research by the National Center for Children in Poverty (NCCP) at Columbia University’s Mailman School of Public Health.