24 October 2017 | Admin | 0 Comments
We all know what it’s like being a student, heavy drinking sessions, massive shopping sprees etc. Considering the kind of lifestyle students tend to adopt, it becomes extremely difficult to save some extra cash for rainy days and wild nights out.
What are students spending their money on?
A survey of 1,500 students enrolled at UK universities (The Student Room) has shown that university students prefer to spend most of their maintenance loans on non-essential items and costly holidays.
According to the National Union of Students, the total cost of a university course in England is just over £10,000 and the annual cost of living for students in the UK is currently £13,388 – this includes rent, food, travel and personal goods etc.
The price of renting as a student
Image courtesy of Thisismoney.co.uk
About 50% of the annual cost of living is dedicated to renting properties. Students are currently paying on average £226 p/w for accommodation in London, and about £134 across the rest of the UK (The Guardian).
Depending on whether you are renting from a private landlord or from your educational institution, the average deposit required by a private provider is £300 and by an educational institution £288 (NUS).
As a student/tenant, you’re usually also required to pay up to £500 in tenant fees! We know, we’re shocked too. Other estate agents may charge you for the following things:
- Inventory checks
- Admin fees
- Tenancy agreement
- Deposit protection
and the list goes on!
How I Am The Agent Saves the day!