National Student Money WeekBy Sam
Money awareness week returns
The week sees the return of National Student Money Week, an initiative to celebrate the financial support and advice offered in universities, colleges and students’ unions across the UK.
The week provides a chance to take a positive message to the widest possible audience and contribute to the collective voice of those working to support current and prospective students and to improve the financial capability of students.
In line with the week, Standard Life have released a report which highlights the amount of money students are spending on rent, utilities and savings.
Students are now paying an average of £320 a month on rent and £58 on utilities each month, the Your Commitments, Your Future report found.
68 percent of students are not paying for any insurance while 64 percent are not paying into any pension, savings or investments.
The research also found students have on average five regular financial commitments, spending £339 a month in total on their financial commitments.
The Student Loans Company is also using National Student Money Week to urge English students to apply for their 2012/13 funding to ensure their funding is in place at the start of term.