Along with paying the rent and utility bills, it’s important to understand that sharing household expenses will need to be budgeted for also.
All of these costs will need to be calculated before moving into a shared student property so that you have a good idea of the budget you will need every month to survive.
So, what will you need to be paying for during their university studies?
After rent and utilities have been paid, you’ll need to budget for your food and groceries bill.
Obviously, a lot depends on what you will eat but students could rack up a £40 a week bill for this – it also helps explain why good old beans on toast is a popular meal choice for students today!
A quality student broadband connection
Another expense will be for a quality student broadband connection so you can carry out your online research, file assignments and even have enough capacity for Netflix binging!
While this may not be considered to as a household expense, it is a crucial one and should be considered when budgeting – find out how much the broadband will cost and not to try to guestimate.
Other outgoings will include paying for public transport, particularly if your student house is not close to the university campus.
There will also be a need to pay for textbooks and these costs will vary depending on the course you’re studying but it is possible to buy second-hand copies in bookshops and online to help save money, so make sure you keep a look out.
Sourcing cheap student broadband deals
Along with sourcing good student broadband deals, you’ll most likely need to pay for a mobile phone; these can cost up to £50 per month depending on the phone you have chosen, while pay-as-you-go deals are much cheaper and start at around £5, saving you a fair amount considering most are £40-£50 per month, sometimes higher now days.
Other costs will include insurance for the property’s contents (be aware that burglars love students homes) and leisure activities, including a few regular visits to the pub with your mates!
However, one of the best ways for sharing household expenses is for the student tenants to pool their money for things that you will need, for instance cleaning materials, tea and milk and even food for sharing a meal night together.
Another potential way of organising utilities and a student broadband deal as well as helping to budget effectively for these outgoings is to utilise the service being offered by Glide which will enable you to enjoy the utilities and broadband and pay for them monthly.