Students Working Longer Hours to Earn Money
Students are working longer hours in paid employment while studying to help pay for living expenses, new research reveals.
The Student Lifestyle Report by NUS and Endsleigh highlighted the growing number of hours students are spending in paid employment, to prevent falling into debt.
The average student in 2010 worked 15 hours a week during term time - this is compared to 13 hours in 2008.
“University offers a unique opportunity for students to grow and develop responsibilities, both academically and financially,” said Vicki O’Connell, Endsleigh spokesperson.
In 2010 the average student spent an average of 24 hours a week working in paid employment during the holidays, compared to 17 hours in 2008, which is an increase of over 40 percent.
“These findings clearly show that students resourcefully adapted to the current financial climate in 2010,” commented Aaron Porter, NUS president.
At the top of the average students’ budget list was activities and entertainment, whereas music was at the bottom - deemed the least important.
Technology such as mobile phones came in at sixth place beating other essentials such as toiletries and the internet.
Pay as You Go Credit Cards to Help Budget
The largest outgoing for students is on accommodation, as the average student pays £80 a week - while a quarter spend over £100 a week on rent.
If you are a student struggling to make your small income stretch to cover the essential outgoings, try using a pay as you go credit card to help you budget.
Unlike a credit card, anyone can purchase a prepaid credit card for a small price, as the card does not have an overdraft facility. This means the student can use it to make purchases with the knowledge they are only spending what they can afford.