Five Main Living Expenses For Uk Students
The cost of living for students varies across the UK and from university to university
. Students living in cosmopolitan London can expect living expenses to be greater than anywhere else in the UK - by around 25% - mainly because the cost of
student accommodation and travel is so much higher here.
If you are a student in the UK (or soon to be one) the following article will offer you some hints and tips on the living cost of being a student. Besides your tuition fees (up to 3,290 for the 2010/11 academic year for UK residents) you are going to need money to cover your general living expenses. This includes essential expenditure such as rent, bills and food, as well as entertainment, travel and even clothes.
The average amount spent each year on living costs by students is now around 8,000, and is nearer 10,000 in London. More than 80% of this money is spent on just five expenses.
To give you some idea how the money is spent, here is a list of the five main expenses for students.
Student AccommodationYour largest single expense will be your rent, with the average cost of student accommodation in the UK around 2,700 (excluding bills). The cost of accommodation can be as much as 15,000 depending on the location and standard. Prices for student accommodation will be higher in London and average around 100 per week. Recent figures on student accommodation costs average around 62 per week for private accommodation and dont include a deposit or insurance. You can reduce your accommodation costs by being in a house share or by taking a spare room in a private house.
Tip: Depending on the university, shared student accommodation may be the cheapest option.
Food and other essentials
This cost covers everything from buying food and cooking at home, to eating out, snacks and coffees, and even cleaning products for the house share. You can keep costs down by sharing the cost of essential food and groceries items within the house share, such as bread, milk, tea, paper and cleaning products. Just make sure the costs are fairly split between everyone in the house share.
Tip: Prepare your own meals and look out for reduced items in the supermarket.
Leisure expenses
Students spent more than 1,400 each year on entertainment. This includes drinks, clubs, gigs and going to the cinema. As youd expect for students, alcohol tends to be the main leisure expense, followed by clubs and gigs. No one wants to be a killjoy, but it will help your wallet or purse if you keep an eye on your entertainment spending.
Tip: Look out for special deals in pubs, clubs, and matinees.
Bills
From your mobile phone to gas and electricity, as well as broadband, youll need to cover the cost of these regular bills. If you are in halls most of these bills may be included in your weekly rentals. The same is usually true if you take a spare room in a private house.
Those opting for privately owned student accommodation, such as a house share, will need to pay for these bills in addition to their rent. If you live in a flat or house share, be sure to organise an agreement between everyone in the property that they will pay their fair share of these bills.
Tip: You may find it a bit cheaper to pay your bills online and be sure to shop around.
Travel
Whether you are going from home to university, just around town or visiting far flung places during the summer holidays, student travel costs can soon mount up. This is especially true of London, where it may be cheaper to live away from the centre of town, only to spend more on travelling in and out of the city.
Tip: Always shop around and compare ticket prices; use student discounts whenever possible.
by: Mark Daviss
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