Starting University is an intimidating and scary time at the best of times. Most people who attend University are leaving home and looking after themselves for the very first time. This means looking after their finances for the very first time, which isn’t always easy.
The cost of living crisis has added an additional strain on this issue. Most people who attend University are only able to do so with the help and support from the Government, or family members.
The cost of living crisis and current rise in inflation [1] has made life even harder, with increases in rent, utility bills and weekly food shops.
In fact, a recent study carried out by the NUS [2] (National Union of Students) found that 96% of students have admitted that they have had to cut back on their spending in order to cope in the current climate [2].
It is only natural that this will impact your mental health, resulting in issues when it comes to your social, financial, mental and academic life [3]. In addition to this, students are renowned for drinking a lot of alcohol on nights out, which is both expensive and harmful to your mental health if abused on a frequent basis.
If you are struggling mentally due to the cost of living crisis, then take a look at some advice from the Mental Health and Money Advice team [4].
Please read our useful infographic below to understand how the cost of living is impacting students.
References
[1] Cost of living crisis Explained
[2] https://www.instituteforgovernment.org.uk/explainers/cost-living-crisis
[3] See alcohol rehab clinic article
