Find Out the Cost of Living in Liverpool for Students

The city is known for its top-ranked colleges like Liverpool John Moores and the University of Liverpool. Many students desire to study in these colleges. However, the high cost of living in Liverpool can deter students from applying to these colleges. This is because it can increase their education expense and lead to stress. Moreover, selecting cheap options for housing, food, transport can save them money. Also, compared to other cities, student accommodation in Liverpool is cheap. However, to study in your desired college, you should know how to manage the costs. So, let’s study the average living cost of Liverpool and tips to manage these costs.

Average Living Cost of Liverpool

The average cost of staying in Liverpool ranges between £850 (INR 95,524) to £900 (INR 101606) per month. This living cost is for a single person who lives alone in the city. However, these amounts can vary according to housing choice, lifestyle and other factors. Hence, let’s explore these expenses in detail.

Liverpool Accommodation

Firstly, you should find out about the student accommodation in Liverpool options and their rent. You can expect to pay around £400 (INR 44,952) to £700 (INR 78,666) monthly. The housing expense is based on the accommodation type. If you select shared houses, then it can reduce the rent costs. Thus, it is essential to pick the right house by comparing the cost of different housing options.

Cost of Food and Transportation

Secondly, start analyzing the food and transportation costs. These are the regular costs and can consume a large amount of your monthly budget. This daily spending leads to a high cost of living in Liverpool. However, the cost of food can vary between £150 (INR 16,857) to £400 (INR 44,952). Moreover, the transportation cost can last up to £80 (INR 8,990) per month.

Utilities and Other Expenses

Lastly, calculate how much your utility and other expenses will cost you. Utility bills mainly cover water, gas and electricity bills. In addition, the other expenses include social life, phone bills, entertainment and study costs. The minimum expenses on these factors can be around £50 (INR 5,619) to £200 (INR 22,476). Also, many tenants include these charges in the rent amount of apartments.

Factors Affecting Liverpool’s Living Cost

The living cost can be affected because of several factors. The key elements that lead to high living costs are student status, accommodation and lifestyle. Now, let’s examine how these things can raise your living expenses.

Student Status

Student status raises the living cost by spending on leisure and social activities. Moreover, their need for precise accommodation also contributes to increasing living costs. Also, students mostly prefer outside food, which leads to regular spending of £10 (INR 1,123). Further, they spend around 50(INR 5,619) to 200 (INR 22,476) on leisure activities every month.

Accommodation and Location

Location and housing selection play a key role in affecting the daily cost in Liverpool. The college residence is cheaper than private flats. Moreover, the location of your apartment can also affect the rent. Student accommodation in UK can help you to manage your expenses. Thus, selecting a flat in the outskirts will reduce your living costs.

Lifestyle of Residents

The lifestyle of students in Liverpool can significantly affect their everyday expenses. Factors including dining habits, leisure activities and transportation can influence the total budget. For instance, eating homemade food versus dining out will affect expenses drastically. Hence, it’s essential to manage the expenses as per budget. So, let’s study how you can manage the daily expenses at Liverpool.

Tips to Manage Living Costs as a Student

To reduce the cost of living in Liverpool, focus on budgeting and explore cheap housing. Moreover, many restaurants and stores offer discounts to students. So, you can avail of these discounts to reduce the expenses. Here are a few more tips that you can use to control your living expenses.

Financial Planning

Financial planning can sound difficult to you but it is most important to save money. Hence, start making a budget and decide how much you should spend on food, housing and leisure. Also, make use of budgeting apps to monitor your daily spending.

Share Accommodation

The shared student accommodation in Liverpool is less expensive than university halls. Hence, opting for this housing can reduce your rent amount. Moreover, to save more money, you should aim to find a house further from the city. In addition, find a house that includes utility bills in rent.

Savings on Food

Being a student, you prefer to have food in restaurants or cafes. However, this can lead to high expenses daily. Instead, you can prepare your food at home to cut these expenses. Further, you can shop in discounted stores to avail vegetables and cooking materials at lower prices.

Conclusion

In conclusion, the cost of living in Liverpool is high, but by making a budget, you can manage the expense. Also, factors like eating outside, investing in leisure activities and living in separate rooms affect the expenses. However, you can save expenses by selecting cheap student accommodation in UK. In addition, the rent price can vary from city to city, it can help you in cutting your monthly expenses. Also, you can take the help of consultants or an online website to pick the right housing option. You can also find homes by Graddinghomes.com for a comfortable living experience in Liverpool.