15/10/2019
Who spends the most on a night out? Which students are managing to save a little each month? Find out more about student behaviour in some of the most popular university cities across the UK.⠀
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Income💷⠀
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Apart from student loans, students rely on the Bank of Mum and Dad when it comes to their income. Parents are, on average, topping up student income by £222 each month. But with 43% of students saying they run out of money before the end of the semester, it’s no surprise they’ve had to find other ways to boost their income.⠀
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Spending💸⠀
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After paying their rent, students spend the most on their supermarket shopping, at an average of £83.50 per month. Students also spend more on shoes, clothes and accessories than they do on alcohol.⠀
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Budgeting🏦⠀
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When it came to money management 42% of all students do not use any budgeting methods to help their money go further, while 6% said they don’t consider what they’re spending at all. When they do overspend, one third of students rely on an overdraft to supplement income.⠀
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Studying 📖 vs. socialising👥⠀
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Students are spending less time studying in 2019, but that doesn’t mean university is any less stressful. Only 10% of all UK students do not spend any money on socialising, showing how the social aspect is still a huge part of university life.⠀
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Part-time Employment⏳⠀
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Time spent on academic studies has decreased by almost 10 hours per month since 2018, while time spent on unpaid work experience has more than tripled. The average UK student earns less from part-time employment than the money they receive from their family each month.⠀
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Mental Health & Wellbeing🕉⠀
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Mental health and wellbeing are important issues for young adults and students, and we found that 1 in 4 students are very satisfied with their university’s mental health support offering.
