Spending
Across the UK, the biggest expense facing students is their rent, followed by supermarket shopping. There is some good news, as average rent costs decreased by 10% across the UK over the last year. Students in London are spending the least time socialising, but spend the most money on clothes, shoes and accessories, at twice the national average. The remainder of students' money is mainly being used to fund social activities, going out and travel.
- London overtakes Manchester to become the most fashion-forward city. Those studying in the capital spend £64.20 on average per month on clothes and fashion, almost double the national average of £32.60
- Oxford students top the table this year with a monthly spend on alcohol of £44.90. This is more than twice as much as students in Leicester, who were the lowest spenders on alcohol this year at an average of £18 per month.
- The South of England remains the most expensive place for alcoholic drinks in the UK, with the average expected price for a pint increasing by over a whole pound since 2019. Cambridge wins top spot for the highest-cost for a pint, at £5, which might go some way to explaining why students in Cambridge are choosing to spend their money elsewhere.
- Year-on-year costs of household bills have sharply decreased over the two years since 2018, with national averages falling from £45 to £24 in 2020.
- Students in York are benefitting the most from a reduction in the cost of household bills, enjoying expenses as low as £5.80 per month. This is over 10 times less than the cost for students in Aberdeen, who are spending £53.80 monthly, which is more than twice the national average.
- At a cost of £27 for a night out, students in London spend the most on average, with 30% of students spending above £20 each time they enjoy a night out. In contrast, 29% of London's students don’t go out in the capital at all.
- A takeaway in Manchester is the least expensive at £8.50, which is 17% less than the national average. Down South, students in Brighton and London spend the most on a takeaway at approximately £12, 15% above the national average.
*Data excludes those who do not drink