Getting into university is quite often the easy part, while figuring out how to pay for it is the real challenge. And higher education could get even more expensive if university chiefs get their way.

Vice-chancellors from 12 universities said in a report commissioned by Universities UK that an average fee of up to 7,000 pounds a year is necessary to secure long-term funding for teaching. The National Union of Students condemned the proposal, saying that it would deter poorer students from applying and leave graduates with massive debts.

If you are going to start university soon or are already enrolled, or if you are a parent about to send your child to university, there are a number of online tools and resources that will help you to better understand tuition fees and find financial support if you need it.

Moneysavingexpert.com has teamed up with the Department of Education to produce a free parents guide to student finance which shows how student finance works and how you can get your kids into higher education without taking on too much financial strain. The guide has everything you need to know about funding university, from financial support to student bank accounts and tips on getting a part-time job.

You should also have a good look at the site’s Student MoneySaving section which will help you to understand the difference between ‘good’ and ‘bad’ student debt (student loans compared to, say, credit cards) and where to find hidden scholarships and grants. Moneysavingexpert.com also has a comprehensive guide to student loans and grants.

Directgov has up-to-the minute information for all types of student. Their student finance section is an invaluable resource for full-time, part-time, disabled and overseas students looking to find out more about the best way to fund their higher education journey. There is also information for parents and you can even apply for finance online. Directgov’s interactive bursary map , which will take you to any university bursary page in England, is also very useful.

Elsewhere, Studentcashpoint.com is a comprehensive source of information on grants, loans, burseries, scholarships and awards. The site also has useful tips on surviving on a student budget and you can sign up for free automatic funding alerts.

UCAS, the organisation which processes applications to higher education, has an extensive budget calculator which will help students total up their monthly income and outgoings to reveal what they will be left to live on.

If you just want to know more about tuition fees, how they work and where they apply, look at this Q&A by the BBC. Finally, theindependent.co.uk has a student section full of guides to organising your spending and how to find discounts on essential items like laptops.

There was more gloomy news for the housing market today as property website Rightmove announced that asking prices for houses in England and Wales were 9 percent lower than a year ago. New listings meanwhile were 57 percent lower than March 2008. The average asking price actually increased by 0.9 percent between February and March this year, but Rightmove warned that this was caused by new sellers being unrealistic about how much their homes are worth.

So what can be done to revive the stagnant housing market? Citywire has one radical suggestion: make sellers pay stamp duty rather than the buyers. Every year there are calls to abolish or reform this “flawed tax”, but Citywire’s Lorna Bourke says that making this switch would be an incentive to first-time buyers and would cost the government nothing. What sellers would say about this, however, is another story.

Citywire also comments on the recent report by Numis Securities in which they said that house prices could have another 40-55 percent to fall before bottoming out. Ouch. David Smith, writing in this weekend’s The Sunday Times, dismissed this report as “unconvincing.” Smith writes that the chances of the average house price in the UK slipping to £66,000 from the current £150,000 are slim, especially as interest in the market and new buyer inquiries are rising.

The Numis report predicting the rather frightening fall in house prices has sparked a great deal of debate on the web; it is the most commented on article on thisismoney.co.uk.

Even if you did want to buy, what are your chances of securing a mortgage? Not good, according to Rupert Jones writing in the Observer. Fewer than 9,000 first-time buyers were able to take out a home loan during January and the average first-timer’s deposit was a new high of 24 percent of the value of the property. So while buyer inquiries may indeed be on the up, raising the finance to actually buy a property is becoming harder and harder.

And it could be about to get even more difficult. Telegraph.co.uk reports that home buyers could be prevented from borrowing more than three times their annual salaries under new mortgage rules to be announced by the Financial Services Authority.

All of which raises a number of important questions about you and your home. Is it a good time to sell or buy? Would you be better off renting? What sort of mortgage should you apply for? Thankfully, there are a number of great tools on the web to help you decide.

The Times has this handy mortgage calculator to calculate what your repayments would be were you to rent or buy. Moneysavingexpert.com meanwhile has a great tool which helps you decide if you should go for a fixed, discount or tracker mortgage for those of you looking to buy or remortgage.

If you want to know how much your home could be worth but can not be bothered dealing with an estate agent, then you can search the UK Land Registry database of houses sold in England and Wales since 2000 or find out more information about properties and monitor average house prices at the Land Registry website.

With unemployment on the rise and the cost of living also heading in the wrong direction, the days of profligacy are over and many of us are suddenly starting to look at ways in which we can cut back and save a few extra pennies.

The web is full of information aiming to help you do just that, but wading through it can be confusing and time-consuming. To save you time, here are a few useful articles and online tools we have come across in the last few days.

Moneysavingexpert.com points out that five of the big six energy companies have dropped their prices recently, which means that now could be a good time for you to change to a cheaper tariff. We also recommend signing up to the site’s weekly money saving email which alerts you to the kind of special offers that you only usually hear about after they have expired.

But it is not just your energy provider that needs to be refreshed. Times Money has useful tips on switching internet, mobile phone, insurance and other providers.

Saving money is good, saving money and improving your health is even better. One of the best ways to instantly save money is to give up an unhealthy habit such as smoking. Guardian Money has this handy guide to how much you can save by giving up cigarettes, depending on how old you are and how many you get through in a day. The numbers involved are staggering (£2,111 a year for a 20 a day habit).

They also point out something I have noticed recently - that now is a great time to bring back the art of haggling. It is a buyer’s market after all and you should deploy your negotiating skills when purchasing electrical or other expensive goods and bag yourself a bargain. Ask for money off or some free additional extras - chances are you will get it.

One of the best ways to penny-pinch in these troubled times is to buy your groceries online. Supermarkets are experts at forcing you into impulse buys but their websites often alert you to cheaper alternatives or, for example, the cost-effectiveness of buying some items in bulk. Plus having it delivered saves on petrol money. MSN Money points out other ways to cut back on your shopping bill.

Finally, there are some items which are always worth spending a little extra on, such as toilet paper. But if you want quality and value, then The Sun’s Captain Crunch has this detailed guide to the best value loo roll on the market.

Have you come across any useful online tools or articles that have helped you to save money? Leave your comments below.

With ISA season coming to an end in less than a month, investors need to act sooner rather than later to make the most of the tax-free benefits on offer. You can not carry your annual allowance of 7,200 pounds into the next tax year, so it is a simple case of ‘use it or lose it’.

But with interest rates plummeting to an all time low, returns on cash individual savings accounts are miserly. So are stocks and shares ISAs a better home for your money? Financial experts certainly seem to think so – and so it would appear do investors.

A report by Barclays Stockbrokers says that the Bank of England’s decision to cut interest rates to 0.5 percent has led to a change in outlook for savers, with 63 percent saying that equities will provide the best returns this year. Of those planning to invest in a stocks and share ISAs in the 2009 tax year, 74 percent say they intend to maintain the same level of investment as 2008 and 20 percent plan to increase their investment.

Barbara-Ann King, Head of Investment Strategy at Barclays Stockbrokers said the report shows that “cash is no longer king.”

Dan Clayden, independent financial adviser from Clayden Associates, agrees: “The FTSE is around 40 percent down on its peak, so to me the equities market looks very appealing.”

Meanwhile, Tamsin Brown on whatinvestment.co.uk writes that investors looking to gain any serious returns from their ISA allowance will have to move out of their comfort zone. “Those looking to invest in a cash ISA at the moment will be lucky to find one offering much above the rate of inflation. Therefore, ISA investors seeking tax-free income this year have to be prepared to take on a little risk if they want their yield to do more than just keep up with the increase in the cost of living.”

However, Jennifer Hill at timesonline.co.uk writes that investors should be wary of the pitfalls. “Supposed ‘safe havens’ are not as low risk as they might seem. Money is pouring into corporate bond and equity-income funds, which can both be held within a stocks and shares ISA, since some are yielding up to 10 percent against an average of only 1.99 percent for cash ISAs. However, advisers said many savers may not appreciate the risks.”

Timesonline.co.uk also asked financial experts where they will be putting their money, with most saying that they also see the plunging markets as an opportunity. Some report a threefold increase in investors putting their money in stocks and shares rather than cash ISAs.

Recent rules changes allowing investors to transfer money from a cash ISA into a stocks and shares ISA without losing the tax advantages (though you can’t move it the other way) has also encouraged more people to opt for an equity scheme. Moneysavingexpert.com points out that ISA providers like to let you think your money is locked in and has a handy guide to transferring funds from one ISA to another that offers potentially better returns.

Anyone looking to make a quick buck from a stocks and shares ISA is likely to be disappointed. The message from experts seems to be the markets could drop further and any investment should be seen as long-term. The other key theme is diversification – spread your assets around and, whatever you do in these turbulent times, don’t put all your eggs into one basket.

Elsewhere from around the web, thisismoney.co.uk has a guide to choosing the best ISA and information on the best rates available, which is updated daily.

You have until 5 April to use up your annual tax-free allowance. You can invest up to 3,600 pounds in a cash ISA and 7,200 in a stocks and shares ISA, or split your money between both.

– Jane King is an independent mortgage adviser at Ash-Ridge Asset Management. The views expressed are her own. –

In the current climate, we have the irony of property suddenly becoming more affordable and yet lending is down by 52 percent in the year to January. The commonly held view is that it is almost impossible to get a mortgage and many first-time buyers are still frustrated in their efforts to get on the ladder. But it’s not all doom and gloom.

Firstly, there are providers with funds who want to lend. What they don’t want is the sub-prime type of borrower that got many banks into trouble in the first place, and this is set to be the long term approach of many who decide to remain in this market. This will be good for future stability and something that should be encouraged.

Anyone seriously looking to purchase or remortgage should take independent advice from a properly qualified mortgage adviser (try www.impartial.co.uk). First meetings are usually free of charge.

For first-time buyers and key workers there are government-funded schemes available, which are not widely advertised but are incredibly popular. The criteria and flexibility have widened in recent times and the schemes now encompass many individuals who would not have qualified in the past.

For key workers such as policeman and nurses and other eligible groups there are Shared Equity Schemes whereby you purchase part of your property and rent the remaining portion.

Try your local housing association in the first instance - they will let you know what properties are available and will advise as to your eligibility. An independent mortgage adviser will have access to the lenders who provide the mortgages for these shared equity loans and will be able to find you the best deal for you. I cannot recommend these schemes highly enough and as new funding is often released in April, the timing could not be better. For information about housing associations try Directgov.

For borrowers looking to remortgage, they should compare their current lender’s offering before moving. With low interest rates, it’s often not worth moving lenders once arrangement, valuation and legal fees are taken into account. A good adviser will always make this comparison before recommending any alternative.

When you start looking you will find that, because of low interest rates, there are some great deals out there. If you have a hefty deposit or plenty of equity in your property then you can access some very competitive rates. For a list of some of the best deals go to moneyfacts.co.uk

Do not be tempted to consolidate debt and secure this against your property. This can seem like a good idea but needs careful thought. In today’s uncertain environment one option is to insure your mortgage payments against redundancy if you are eligible.

Although the government has offered limited help for those facing arrears, the details are still sketchy and will only cover interest payments. If you are facing repayment problems, always contact your lender as soon as you can, as it will have options available to you - it is not in the lender’s interest to repossess.

Do not assume that your usual High Street bank has all the answers - shop around, use the Internet and ask friends and colleagues for recommendations.

I believe that this situation will continue at least until the end of 2009 - the recovery will only start when consumers regain their confidence in the economy and are comfortable that their jobs are relatively safe.

Two-for-one restaurant deals and money off vouchers have shrugged off their “uncool” image as the credit crunch bites, according to a survey, and apparently even Wayne Rooney and wife Coleen McLoughlin have used at least one to get a half price evening meal, despite the Manchester United star’s 100,000 pound a week salary. 

The practice - which used to carry a stigma - has topped a list of “cool money-saving options” adopted by people in the economic downturn.

Leaving reduced tips or none at all, buying own brand supermarket products and taking packed lunches to work also made the list.

The list of previously frowned-upon practices also includes selling things on eBay and shopping at discount stores such as Lidl and Aldi.

A spokesman from www.OnePoll.com who carried out the research said: ”We all seem to be embracing social habits that we would never have done last year as they were deemed ‘uncool’ or socially unacceptable. Paying by two-for-one vouchers would have had a stigma attached to it last year, yet now it’s almost more normal to hand over a money-off coupon when it comes to paying the bill at the end of the night.

”Everyone is watching their pennies in the current financial climate so any possible money saving opportunities are being snapped up. Things that used to be considered tight-fisted such as failing to tip or buying own brand food is now common practice.”

The poll of 5,000 Brits revealed over two thirds of people feel the credit crunch has made them less judgmental about embracing money saving measures.

Seventy-two percent even admitted they secretly enjoyed saving money by adopting previously uncool customs. And 69 percent said the credit crunch has actually encouraged them to think about their financial future for the first time in their lives.

Forty-eight percent said they now set a monthly budget for their outgoings and the average Brit is now saving an extra 46 pound per month compared to last year.

Other previously frowned-upon practises helping Brits save cash include taking left-over food from the night before to work and shopping in charity shops.

TOP 10 CREDIT CRUNCH TRENDS (according to www.OnePoll.com)

1. Using money-off vouchers

2. Buying supermarket own-brand food

3. Making packed lunches

4. Refusing to tip waiting staff, taxis or hairdressers

5. Shopping in Lidl and Aldi

6. Selling things on eBay

7. Turning the heating down

8. Driving slowly

9. Shopping in charity shops

10. Re-using carrier bags

Sue Tumelty is Managing Director of employment law specialists The HR Dept. The opinions expressed are her own.

The latest Labour Market Outlook survey conducted for the Chartered Institute of Personnel and Development (CIPD) with the accountancy firm KPMG looks bleak. The Ipsos Mori poll of 892 UK employers in January, reveals that more than one in three (36%) plan to cut jobs in the first quarter of 2009.

What if you are a one in three? Regardless of whether you are a high earner or in a low paid job, the chances are that you’ll face the same question. How will you pay your mortgage and bills? How will you find another job?

As with any high stress situation, panic won’t help. Try to stay calm and make an effort to understand the process and the options open to you. For example, redundancy can be expensive and difficult for employers. Many are now looking favourably on innovative ideas in an attempt to retain their talent pool. This can range from shorter working hours, to unpaid sabbaticals and temporary pay cuts.

Part of the redundancy process requires consultation. Use this as your chance to offer alternative solutions. It is worth exploring all the avenues that may enable your employer to keep you.

The process begins with the announcement of proposed redundancy. Your employers need to consult with staff as early as possible about the reasons for the proposed cuts.They have to state how many employees are at risk and how the employees would be selected.

If more than 20 people are to go, the consultation should take place over 30 days. Larger scale redundancies need over 90 days with elected representatives, such as unions.

Part of this consultation process should involve looking at ways to avoid or to mitigate the circumstances. For example, can savings be made in any other area of the business?

If redundancy seems the only option, your employer may score each employee against set selection criteria. You have the right to see and question your own score. You also have the right to be informed of any suitable alternative jobs available within your company. If you are pregnant or on maternity leave, your position enjoys additional protection.

If you are selected for redundancy, you or your representatives should be invited to a dismissal meeting and given the right to appeal. If your employer fails to follow the correct process, you may have grounds to pursue a tribunal claim.

Try not to view redundancy as a personal slight. It can be a golden opportunity to start your own business or train for a new career. Prepare your CV, read the Which? Essential guide, CV and Interview Handbook for valuable tips on how to get ahead in the employment market.

Your job now is to get a job, so get up at the normal time and get to work. Be realistic and explore all search methods including the internet, employment agencies, local papers, speculative letters and contacts.

Do a review of your finances and get advice and help if you think you may fall behind with your mortgage or utility bills. Most companies will respond favourably if you are proactive. Above all stay positive and don’t give up. The recession will end and we will all be a bit wiser because of it.

Simon Owen is a strategy and innovation consultant who helps companies identify and implement new business opportunities. He worked at a London based consultancy before being made redundant in January 2009. The opinions expressed are his own.

Most recently I worked for a leading innovation company that specialised in innovative growth projects. They took a much more creative approach, and I enjoyed it because they generated great ideas that had genuine impact and acted on them.

The ‘innovation’ industry, so to speak, is relatively new and it has grown rapidly over the last 10 years. People will always pay more for the creative than the analytical. The company I worked for were at the top of all this and grew very fast.

Then times started to get tougher. Suddenly our clients, who paid us a lot of money to do what we do, started to cut back. They concentrated on their core business and shied away from taking a risk on any new ventures and ideas, even those that offered potentially greater rewards.

Some experts say that a downturn is always full of new opportunities and businesses should make a head start and prepare for the return of the good times, but it’s a hard sell when profits begin to nosedive. The bottom line was that some clients could no longer afford our projects as they steadied themselves for the bumpy road ahead.

So our profits began to fall and, unfortunately, this meant redundancies. High quality staff are expensive and the outcome was inevitable. To be made redundant was both frustrating and liberating. Frustrating because I loved the job but it’s important to remember that redundancy isn’t personal, it’s about business and I understand why it happened.

It was liberating because, as a professional, I wanted to experience growth, not decline. And, as has happened to numerous people in my position, I have found being out of work can be a great opportunity. There is uncertainty but I’ve started to do freelance work and found that, with freezes on permanent hires, demand is actually up.

I’ve also gotten involved in a number of web start-ups and helped to re-launch a small brand design agency. I’ve discovered a whole network of bright young entrepreneurial people in a similar position to me. It strikes me that people are beginning to think for themselves again, simply because they have to.

I’ve also found that it forces you to try things you might never have considered before. I’ve started writing for clients as well as publications. It might not pay as well as freelance strategy, but it sure is a lot of fun!

I have my fingers in a lot more pies these days. The trick is knowing which ones to tuck in to and which ones to put back in the oven. But I guess that is something many of us will need to figure out over the next few months.

Losing your job can come as a massive shock, even if it is something you have been worrying about for months. The latest figures show that for the first time in over a decade the number of people out of work has risen above two million.

If you are one of them, you probably want to find a new job as quickly as possible. Here are a number of useful resources to help you.

Redundancy procedure, your rights, unfair dismissal

Directgov

Citizens’s Advice

CAB Advice Guide

The Advisory, Conciliation and Arbitration Service

Debt

Consumer Credit Counselling Service

National Debtline

CAB Advice Guide

Find legal advice

Law Centres Federation

Law Society

Payment protection insurance

Association of British Insurers

Benefits and financial support

Jobcentre Plus

CAB Advice Guide

Directgov

Careers advice and retraining

Directgov Careers Advice

Tax guides

HM Revenue and Customs

In the Middle Ages the four ousted British bankers who brought the Royal Bank of Scotland and HBOS to the brink of collapse would have probably had to endure the public humiliation of sitting in the stocks. 

On Tuesday the likes of former RBS chairman Tom McKillop and  former RBS chief executive Fred Goodwin had to undergo a more civilised form of public humiliation - a grilling by Parliament’s Treasury committee.

Given the public outrage over their huges salaries and bonuses for banks that are receiving state aid the bankers’ parliamentary appearance could have not have come at a worse time.

Not surprisingly then McKillop, Goodwin as well as former HBOS chairman Dennis Stevenson and former HBOS chief executive Andy Hornby were quick to say sorry.

Equally predictable was the froth of parliamentary indignation. “You’ve destroyed a great British bank,” one parliamentarian told Fred Goodwin.

Whether the bankers’ apology before the committee will sate the British public’s sense of outrage against overpaid and failing bankers is questionable. 

But their appearance before the seat of government also raised uncomfortable questions as to the way banks have been regulated in the past and how they will be in the future.

The bankers suggested their pay should be linked to multi-year performance. Are they right? Or does the banking system need more fundamental change?