New figures show that students in Oxford spend the most on takeaways.
The 2024 NatWest Student Living Index was released today, an annual study of more than 6,000 university students that paints a "real-life picture" of living and studying over the past academic year.
The study revealed that students in Oxford on average spend the most on takeaways, averaging at £78 a month.
Additionally, rent for students in Oxford is on average £763 per month, £74 higher than UK average, and Oxford students spend on average £148 on supermarket shopping.
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In contrast, students in Belfast spend the least on takeaways at £32 per month and have the cheapest household bills at £57 per month.
Nationally, time students spend in part-time work has increased on average by 154 per cent with the average student working 46.39 hours per month, up from 18.3 hours per month in 2023.
Students in Salford, Ormskirk and Derby spend the most hours in part-time work, each averaging more than 60 hours a month.
Oxford University (Image: Newsquest)
Rents have increased again this year, and faster than inflation, with an average increase of 17 per cent, with the national average monthly rent for students now standing at £689.43.
Household bills have jumped to the second biggest spend for students, overtaking supermarket spending.
Household bills have increased by 358 per cent, costing students on average £157.78 per month, up from £34.48 per month in the previous academic year.
The average cost of a pint has increased by six per cent this year, and London continues to be the most expensive, with students in the capital expecting to pay £5.74 per drink, and 21 per cent often paying between £7 and £8.
More than half of students have found themselves running out of money by the end of term – up from 46 per cent in 2023.
According to the study, only a fifth of students are confident in their money management, and this year’s most popular student activity is having a night in without alcohol, with almost two-thirds of students doing this at least once a fortnight.
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Jaimala Patel, head of NatWest Student Accounts, said: “Students are proactively making changes to increase their income, through part-time work and reducing spending when socialising with friends.
"This highlights the impact everyday spending is having on student finances, and the measures they are going to mitigate the effects, a positive sign that students are feeling more comfortable in budgeting than in previous years.
"We provide a range of tools to help students, including spend categorisation in our mobile app and a Round Ups tool to help develop a strong savings habit.”
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