Going to university is a very exciting step for so many of our teenagers and beyond the education that they will receive academically, they will also spend these years learning a great deal about themselves. One particular aspect of learning here will be understanding how to deal with finances. Many scoff at the idea that students are quite poor, but the reality is that uni living can be pretty expensive. You could of course look to do this as cheaply as possible, but that could result in you not being able to get the absolute maximum out of this experience.
Costs will vary depending on where you go to university, what kind of life you wish to live and how much of your costs are shared with other students. With this being said however, the areas of life which cost money remain the same, and this is where your money will end up.
Your biggest outlay here is going to be on your student accommodation, and this will usually be paid at the beginning of your student year, or by term. If you do rent a private place, perhaps with other students, then you will probably be paying this on a monthly basis.
Uni accommodation could be in halls, on campus, in university operated apartments or in privately managed student houses and apartments.
Depending on what course you are studying for you can expect to invest a good chunk of money at the beginning of the year in student resources such as books, as well as stationary and study materials. You can save money here if you buy books from students of the previous year, or through purchasing second hand books online.
Unless you are staying on campus, you will have to pay for your utilities separately. Gas, electricity and water will often be charged on a quarterly or bi-monthly basis. If you are sharing a house with other students then you will of course be splitting the bills between however many people are staying there.
Transport costs are not necessary if you are able to walk or cycle to all of the spots you wish to visit, and to places like the university and the library. If however you need to take a bus or a tram, you will have to pay for monthly travel cards, which you should incorporate into your costs. Should you purchase a bicycle at the beginning of the year, this of course will also be quite an outlay to make, yet it may save money in the long term.
Food and household items can also be factored in here, which will make up a good portion of your monthly spends. There are many ways to save money here such as seeking out deals, using coupons and sharing household items with others you may be living with.
Uni just wouldn’t be the same experience without being able to get out and socialize, which isn’t always cheap. Make sure that you take advantage of happy hours at bars and student specials at restaurants and cafes in order to save a little bit of money.
These are going to be the major costs which you incur during your time at university.