THE TOP TEN Things Student Spend Their Money On
In the UK the average student will have spent their first student loan instalment within 51 days, and one in six will have in nearly half that time. What are the most common student expenses?
In the UK the average student will have spent their first student loan instalment within 51 days, and one in six will have in nearly half that time. What are... more
Always on the lookout for a good deal – especially on cheap food and drink – in the UK students spend around £84 per month. This is nearly twice as much as they will spend on alcohol. Surprised? We all are!
You might be surprised to know that alcohol is the second biggest monthly spend with an average of £45 going on beer, cider and spirits. Some will also spend an average of £21 on cocktails – student life really has moved up in the world.
It’s important to look good, especially with so many nights out and new people to meet so you want to dazzle them with more than just your personality, so around £39 each month will go on new clothes.
It’s a stereotypical picture (but only because it’s true) of a student with their nose buried in the words of their favourite author. The average student spend on books is £30 per month – that’s a lot of reading!
You need to eat, but do you really want another night of that bumper bag of pasta? Didn’t think so. Going out and being sociable doesn’t necessarily mean drinking until you’re meant to be in your morning lecture. Everybody likes to eat out, and students will spend around £31 every month on it – that’s more than some grown-ups.
First impressions count and looking good costs money, so once you’ve bought a pile of brand new threads, you might need a haircut, or perhaps a massage – the list could be endless, with £28 spent every month on looking and feeling good.
You know where this is going; you stagger out of the nightclub into the street and have a craving for curry, a kebab, chips, possibly all three will cost around £25 per month. This is not exclusive to 3am, it’s just easy to nip out of the library for a quick scoff before getting back to the books.
Healthy body, healthy mind. Most universities and colleges have gyms where you’ll be working off the stress of a particularly cerebral philosophy lecture or perhaps you’re taking your mind of the impending exam results.
Treating Your Mates
There will always be a birthday celebration around every corner, but sometimes it’s just nice to be nice. An average of £23 per month is spent on treating your friends and is anything from a cup of coffee to a cinema ticket. Hopefully the favour will be returned at some point.
Usually there’s a very low interest credit card on offer, but be very careful, you can easily get in to the habit of using it and over spending, and when it gets out of control you can still be paying it off long after you have graduated. Here are some tips for looking after your money.
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