Money

How much does the average student spend at university?

Preparing to go to university and want to know how much money students really spend? Read on to find out more.

Safeera Sarjoo
by Safeera Sarjoo
Last Updated:
18 Oct 2024

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Ever wondered how much the average student spends on alcohol, food, and rent? To help you prepare your finances, Natwest’s Student Living Index 2024 revealed how much cash the average student is splashing out on everything from their weekly grocery budget to their social life.

How much does the average student spend on food and drink?


According to Natwest’s findings, Salford is the top spender for alcohol and Coventry is the lowest. The UK student average spending on alcohol rose 75.5% from 2023 to 2024, pointing to rises in prices for alcohol during this time.

Although they might not be spending much on alcohol, Oxford students comfortably top the takeaway chart spending £78 a month on them, while Belfast is the lowest.

When it comes to groceries, Colchester students go all out with an average spend of £166.07 a month (which works out to about £41 a week), while Londonderry students prefer scouring for bargains with a monthly spend of £96.12 (that’s £24.03 a week!).

How much does the average student spend on rent and cost of living?


It’s no surprise that London remains the city with the highest rent in the UK for students. Average monthly rent in London is roughly £1,031, far higher than what students experience in Sheffield who pay roughly £480.

If bills are a concern, Students in Belfast have the lowest cost of household bills, paying £56.84 a month. However, due to the energy cost increases and service pricing changes, on average students are paying 357% more on household bills than in 2023.

How much does the average student spend on socialising?

 

Unsurprisingly, a big portion of a students’ income is spent on socialising. The students surveyed for the index estimated that they would spend around £33 on a night out, an 8.1% increase on 2023.

Many students get part-time jobs while they're at university in order to have more money to splash out on socialising. There was a 52% rise in students getting term time work to bolster their finances, with students in Bath having the highest average income.

 

Find out more about student finance with our ultimate guide.

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