Belfast students work the most part-time hours in the UK despite paying less in rent than students in any other city, the Ulster Bank Student Living Index reveals today (Thursday 28th July, 2016).
Belfast students also socialise least, according to the survey of 2,500 students in 25 cities, and study more than the UK average.
Overall, Belfast comes out as one of the UK’s most cost-effective university cities, based on students’ average expenditure and average income.
Rent is a key factor in Belfast’s cost-effectiveness, with students spending the least on rent - an average of £73.81 per week - compared to a UK average of £109.
Belfast students also spend an average of £7.03 per week on alcohol – less than students surveyed in many other UK cities, and only slightly more than the overall average of £6.85.
However, they spend the most in the UK on ‘clothes, shoes, and accessories’, according to the Index.
Sean Murphy, Regional Managing Director, Branch & Private Banking Ulster BankNI, says: “Choosing where to study is an important financial decision due to the significant differences associated with the cost of studying in different cities. Once at university, managing your finances effectively is also crucial. Ulster Bank’s student account provides flexible ways to bank, including our award-winning mobile app, as well as an interest-free student arranged overdraft and commission free travel money. These are intended to help students budget effectively throughout the year.
Portsmouth is the most affordable city in the UK for students, according to the Index. Edinburgh was found to be the most expensive city for studying with above average rent costs playing a major factor, combined with significantly lower than average term-time income.
For more information on Ulster Bank’s student account, visit http://digital.ulsterbank.co.uk/personal/current-accounts/student-account.html
Photo credit: Shutterstock - James Kennedy NI
