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Inflation is rising. Will students be hit harder than most?
"…this will be the most expensive academic year for higher education students to date…" Alan Shipman, Economist, August 2008.
Recent studies by the Open University suggest that students are being hit harder than most by inflation. This is because items which are rising quickly in price, such as food and drink, clothing, tobacco, personal care products, housing and travel, plus tuition fees, make up a higher percentage of the average students’ expenditure than that of the average consumer. Average student expenditure has gone up 6.6% in the last year, compared with 4.4% for the general population.
Reports like this can be a concern to both prospective and current students. However, don't be too disheartened by these figures. Firstly UK students receive a government loan for the ever increasing tuition fees and so for many these do not have to be paid whilst you are at University. Secondly- you will still be able to keep living costs under control. Each area of expenditure can be cut if you try. Reports such as these merely highlight the importance of money saving and budgeting.
Check out the following for money saving tips:
Travel
See how to cut down on day-to-day travel expenses, as well as how to make traveling across the country to visit family and friends cheap and accessible:
www.money4medstudents.org/content.asp?id=562
www.money4medstudents.org/content.asp?id=173
Food
See how to find the cheapest food shops, make the most of offers, reduce food waste and eat healthily on a budget. Keep your food bills down without having to make any sacrifices:
Food Waste: www.money4medstudents.org/content.asp?id=561
Supermarket shopping: www.money4medstudents.org/content.asp?id=559
Food Shopping: www.money4medstudents.org/content.asp?id=180
Eating healthily on a budget: www.money4medstudents.org/content.asp?id=523
Utility bills
Read on to find out how to cut costs and make sure you don’t get caught out:
Utility bills: www.money4medstudents.org/content.asp?id=557
Phone bills: www.money4medstudents.org/content.asp?id=195
Internet and broadband: www.money4medstudents.org/content.asp?id=181
Free telephone calls: www.money4medstudents.org/content.asp?id=482
Housing
Make sure you get the best deal in privately rented accommodation:
www.money4medstudents.org/content.asp?id=174
Textbooks
See how to cut costs with these necessary purchases:
www.money4medstudents.org/content.asp?id=176
Others
General tips to reduce day to day living expenses:
Going out: www.money4medstudents.org/content.asp?id=179
Day to day: www.money4medstudents.org/content.asp?id=178
Clothes: www.money4medstudents.org/content.asp?id=177
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