Lancaster is one of the most budget-friendly locations for UK students, new study reveals

With an average of £156 per week, Lancaster has made the top ten cheap locations for students in the UK, according to a new study. Let’s find out what the numbers have to say about Lancaster and other cities in terms of living expenses. 

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A recent study conducted by tutoring specialists at Superprof provides an interesting insight into living costs for students across the UK. The report was based on data from Numbeo and looked at all university centres in the UK, taking a series of variables into consideration such as prices for accommodation, transport, food, and beverage. 

According to the study’s findings, Lancaster is the ninth cheapest city for students, with a living cost of approximately £156 per week. A breakdown of the expenses shows that students pay on average £116 for accommodation, £11.08 for a five-mile taxi ride, £13.80 weekly for beer, £4.84 weekly for coffee, and £10.50 weekly for fast food.

When it comes to the cheapest city, Wolverhampton wins in a landslide, costing only around £120 a week. The biggest financial advantage for students choosing to complete their education in Wolverhampton is the accommodation costs – the lowest in all UK at only £81 per week. 

Derby is another great option for students who want to stretch their budget further, with a weekly cost of £133. Similar to Wolverhampton, Derby provides cheap accommodation for students at £90 a week, and reasonable-priced coffee at £4.88 a week. 

At number three in the top cheapest cities for students, we have Aberdeen where the average weekly cost reaches an average of £134. Aberdeen also offers the lowest prices for alcohol and fast food, on a par with Bangor and Gloucester.   

In terms of transportation, Liverpool takes the lead by offering cheap taxi fares at £10 for a five-mile journey. 

At the other end of the spectrum, we have London, which is to no one’s surprise the most expensive city to live and study in. The price difference is considerable, to say the least, at £284 per week. As was expected, London has the highest prices for accommodation (£224 per week for a shared student flat) and transportation (£18 for a five-mile taxi journey) of all the cities analysed in the report.  

Bournemouth follows close behind with accommodation costs reaching a whopping £176 a week, and taxi fares costing around £15 for a five-mile ride. 

How to save money and live on a budget as a student 

It’s absolutely great that the UK provides options for all budgets and needs for those looking to advance their studies. However, even if students opt for one of the locations on the cheaper end of the spectrum, they might still have to look for ways to save money and make the most of their limited budget. 

One of the biggest expenses for students is and has always been accommodation. This is also highlighted by the recent rise in rent prices driven by the high demand due to increased activity in city centres and the relatively low supply in the rental market, which makes looking for the right flat to rent quite a tricky task. But there are other costs that add up, such as transportation, food, study materials, and other living-related expenses. 

So, if they want to save money and live on a budget, students have to approach the issue from various directions. There are several strategies that can help them cut back on living expenses, such as:

Working a part-time job

Student life can get pretty hectic with all the studying and the socialising, but for those who are determined to make every penny count, taking on a part-time job is a good idea. This tip is actually for expanding student budget, not cutting expenses, but it obviously helps reduce the financial burden. Working in college is not only about money; it’s also a great way to build a strong work ethic, get a taste of independence and boost your CV.  

Applying for scholarships 

It’s a well-known fact that funding your studies can be extremely challenging. Luckily, almost all educational institutions have dedicated programs or offer some sort of financial support for students based on their academic performance. It’s worth taking the time to explore the scholarships and grants that colleges and universities offer and applying for them. After all, the worst thing that can happen is to lose a bit of your time and get rejected.  

Taking advantage of student discounts 

In all cities across the UK, students benefit from various discounts for a wide range of services, including food, transportation, and entertainment. All it takes is to know where to look and choose those businesses and services that provide perks for students. Even if these discounts don’t seem like much, saving a few pounds here and there eventually adds up and can make a visible difference to the monthly budget. 

Renting or buying used study materials 

Textbooks, class materials, and study equipment are known for being extremely expensive for a student’s limited budget. But who says they have to be brand-new? One of the simplest and most effective ways to reduce education costs is by renting or purchasing used study materials. Alternatively, those who choose to purchase new materials can sell them at the end of their studies and get at least part of their money back. 

Having fun for free

The main purpose of going to college is to study, but there’s also plenty of room for fun and entertainment. Most importantly, students can have fun in college without breaking the bank. There are all sorts of free events and services dedicated to students where one doesn’t have to spend a dime, so keeping an eye out for these opportunities can be a life and money saver. 

Despite all the financial, educational or social challenges they have to face, students these days have a variety of tools and services at their disposal that can help them make the most of their university time and reap the rewards of higher education. 

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