Here at Campus we are always trying to get into the (often hungover) minds of students. As such we have asked one of our brand ambassadors to write about his somewhat baffling student spending habits:
‘What’s the most anticipated date in every student’s calendar? Loan day. Fact. After doing some research and reading that most student loans are spent in the first month, I was surprised. When I thought about it though, something I don’t do a lot, I realised that this is scarily very true.
On reflection into my own spending I found that buying six cans of Coke a day was giving me an addiction worth £40 a month, not to mention the whitening bill at the dentist! Then there’s the killer…clothes. I would roughly spend £40 a week cash, then if they didn’t have what I wanted in my size I’d get `’stressed`’ and panic buy more on my store card with a 19.9% APR.
Last semester I spent £140 per week, not including rent. Admittedly this was mostly on taxies and takeaways, but don’t tell my Mum that. After the first month once I’d blown through my loan it was back to making deposits from The Royal Bank of Mum and Dad.
Truth is this will happen again, no matter how much I say it won’t. Between paying for new clothes and a holiday out of freezing Yorkshire, it is bound to run out soon. Maybe if I just go half board this year?! Whatever happens, I’m making sure my Mum and Dad remain my friends and registered payees on my bank account and I suggest you do too.
Let’s stimulate the economy!’
Joe, Brand Ambassador at Liverpool University.