Student life expenses and how to be prepared

Tips to be one step ahead of the obligations of student life
Student life is one of the most exciting yet often most challenging periods in life. It represents the first taste of independence and responsibility in adolescence.  

For parents, the sense of satisfaction felt during this period, comes with new financial obligations, while, for students, this chapter in life calls for responsible management of monthly responsibilities, allowance, and any other form of income.   

As is the case with all matters, appropriate organisation and preparation concerning the calculation of student life expenses helps control cost levels. And we are here to offer assistance.

Student accommodation

If the university or educational institute is away from home, you will obviously need to rent a house. This is a considerable addition to the family budget, and must be met on a monthly basis. Calculate your financial capabilities, start looking early, and allow as much time as possible for your search in the market. Expect rent levels to increase the closer the accommodation is to the educational institution. 

Therefore, it would be wise to find out about public transport and routes and to also consider areas further away from the school. Finally, you must also decide, from early in the process, if the student accommodation you intend to look for will be shared or not. Opting to share student accommodation can sometimes lead to considerable rent savings and also enable you to find a bigger or better place compared to living alone.

Furniture

If the university or educational institute is away from home, you will obviously need to rent a house. This is a considerable addition to the family budget, and must be met on a monthly basis. Calculate your financial capabilities, start looking early, and allow as much time as possible for your search in the market. Expect rent levels to increase the closer the accommodation is to the educational institution. 

Therefore, it would be wise to find out about public transport and routes and to also consider areas further away from the school. Finally, you must also decide, from early in the process, if the student accommodation you intend to look for will be shared or not. Opting to share student accommodation can sometimes lead to considerable rent savings and also enable you to find a bigger or better place compared to living alone. 

Student life costs and how to be prepared

Moving costs

Moving costs need to be factored into the budget, unless very little gear is to be moved to the student home and can be handled by private vehicle. Make sure you arrange for delivery of any new bulky purchases to the student address. 

Monthly budget

Parents must examine and decide on the monthly student allowance enabled by their family budget. Parents also need to discuss with their student children whether a monthly sum, to be received at the beginning of each month, or a fortnightly allowance is preferable. Sensible management of student-life costs is a life lesson for the future. 

Daily costs in a student’s life:

Bills
Students, for the first time in their lives, must deal with managing a home themselves. Monthly expenses, including water, telephone, electricity and internet bills, need to be calculated and budgeted.

Transportation  
All transportation costs need to be taken into account, be they car or motorbike fuel costs or public transport tickets. Student IDs enable discount public transport fares. Using a bicycle, if suitable in the area where you are studying, can also offer financial - as well as health - benefits. 

Eating at home
Get into the habit of being stocked up on super market supplies for home cooking, even if your recipes are simple. Besides having control over the freshness and quality of ingredients, this routine will also save you a lot of money, compared to food deliveries. 

Entertainment 
Entertainment options catering to students are always offered in abundance at university areas. Look for the places that best suit your entertainment preferences and budget. 

Personal loans
Personal loans for students, including NBG’s “Student Life”,  offer comprehensive solutions covering student-life needs concerning tuition fees, equipment, insurance and daily transactions. 

Student life is a time for knowledge, creativity and fun as well as responsibility and obligations, a combination that can offer unforgettable moments and important life lessons. 

You may also like

Gather more information through useful articles.

Our customer service team is here for you

Our highly trained team is waiting to answer any questions you may have, in person or by phone.  
Close
Close
back-to-top