Student Living Expenses

Starting student life is usually your first venture into the world of paying your own way. Mum & Dad have provided that roof over your head all of your life and now it has come to an end. What should you expect and how should you manage your first year away from the nest, read on for the lowdown.

Living in the Halls Of Residence is generally the easiest way to start out with your rent being the only major payment as all bills should be included. Watch out for additional costs such as the telephone, Sky or internet connections as you may well be liable.

If you don't manage to get into the Halls of Residence then private accommodation is the next step and they can incur big costs. Prepare yourself to either pay or share the gas, electric, council tax, telephone, television licence, internet, Sky TV, water bills amongst a few. If you can share with others this is a great way to minimise these costs. Set-up direct debits for as many bills as possible as you may well receive discounts from the suppliers for prompt payment.

Outside of your living expenses there isn't that much else to worry about aside from your lifestyle. If you drive a car remember the insurance may well go up depending on where you now live and where your car will be stored overnight. If you have a mobile phone try to stay with a Pay As You Go phone so that you can track the costs. If you do decide to take out credit or store cards remember the monthly mini mum payments soon add up and your expected to pay these back every month so add them to your budget.