How is the cost of living crisis affecting you?
Poll
Because of the cost of living crisis, I am...
With costs of groceries, energy and fuel (to name a few) rising across the UK, lots of people are feeling the impact.
This article from The Guardian in September, and another from the Financial Times this week talk about concerns that the rise in cost of living is stopping young people from having a healthy social life, and there's a risk of increased loneliness.
Perhaps it's not being able to spend time with friends as regularly, not being able to afford going on dates, or not having access to disposable income to spend on activities that benefit your wellbeing (like gym memberships or mental health apps).
Or maybe you're experiencing impacts on your housing, access to groceries, ability to pay bills, or ability to plan for the future. Many financial commentators have also spoken about the disproportionate impact of this squeeze on the most vulnerable in our society.
Money is sometimes seen as a difficult topic to discuss, but this is a safe space to share your experience. Maybe by doing so, others will know they're not alone. At TSR we'd also like to learn about what support you need so we can work on helping.
If you've got any tips to share for managing, those are welcome to!
Blackbullion has a great survival guide you might find handy, plus Student Space has some great advice on dealing with worry about money and Paylplan also offer free debt advice if you'd find it helpful.
This article from The Guardian in September, and another from the Financial Times this week talk about concerns that the rise in cost of living is stopping young people from having a healthy social life, and there's a risk of increased loneliness.
Perhaps it's not being able to spend time with friends as regularly, not being able to afford going on dates, or not having access to disposable income to spend on activities that benefit your wellbeing (like gym memberships or mental health apps).
Or maybe you're experiencing impacts on your housing, access to groceries, ability to pay bills, or ability to plan for the future. Many financial commentators have also spoken about the disproportionate impact of this squeeze on the most vulnerable in our society.
Money is sometimes seen as a difficult topic to discuss, but this is a safe space to share your experience. Maybe by doing so, others will know they're not alone. At TSR we'd also like to learn about what support you need so we can work on helping.
If you've got any tips to share for managing, those are welcome to!
Blackbullion has a great survival guide you might find handy, plus Student Space has some great advice on dealing with worry about money and Paylplan also offer free debt advice if you'd find it helpful.
(edited 1 year ago)
Scroll to see replies
As a parent the cost of living has affected us. Basically I have two daughters, one whom is 21 and in her 3rd out of 4th year of university. My second daughter is 17 and in her year 13 and is also wanting to go to university.
Having an income from both myself and my husband helps, but because of that, our daughters will not get the full student finance so we have to put towards it. Which is fine, but with the cost of living crisis, and their rent of their halls going up, and our own mortgage going up on top its not going to be easy. Will student finance go up to compensate for the extortionate rental rises the uni charges? I really dont see that coming.
Going to university is a luxury for some, especially for middle earners who have lots of other outgoings going up, and even the low or no income earners are being out priced now because of the full student finance whack cant keep up with the cost of living. And what happens to students who need to get a job but cant? They have to drop out of uni? Thats unacceptable.
I know some people really have it tough as well, my own family has it hard right now.
As a kid we went through recession and I remember things were tight. I have many memories where we had to scrimp and save. We got through it, and we will get through this again.
Having an income from both myself and my husband helps, but because of that, our daughters will not get the full student finance so we have to put towards it. Which is fine, but with the cost of living crisis, and their rent of their halls going up, and our own mortgage going up on top its not going to be easy. Will student finance go up to compensate for the extortionate rental rises the uni charges? I really dont see that coming.
Going to university is a luxury for some, especially for middle earners who have lots of other outgoings going up, and even the low or no income earners are being out priced now because of the full student finance whack cant keep up with the cost of living. And what happens to students who need to get a job but cant? They have to drop out of uni? Thats unacceptable.
I know some people really have it tough as well, my own family has it hard right now.
As a kid we went through recession and I remember things were tight. I have many memories where we had to scrimp and save. We got through it, and we will get through this again.
(edited 1 year ago)
Making people around me annoyed I guess and rightfully so but haven't had to change my ways so far. Mortgage rate be unstable though I think.
(edited 1 year ago)
I'm saving up as much as I can and slashing unnecessary spending.
Increasing my overtime.
Maximising use of free options and exchanging favours or swapping items to reduce the need to spend cash.
Increasing my overtime.
Maximising use of free options and exchanging favours or swapping items to reduce the need to spend cash.
Family struggling to pay so I took a part time job while resitting A levels to help pay my exam fees/tutoring as well as help pay the bills and feed us. Cutting back as much as we can
Really not a glamourous gap year haha and tiring as hell
But worth it
for now 
Really not a glamourous gap year haha and tiring as hell
But worth it
for now (edited 1 year ago)
Managing fine on my salary from hospital and the supermarket.
Think being out of the house for about 14 hours per day when doing a 12 hour shift help with not using the electric and gas has kept this down.
I have even donated a few times groceries to the local community food Bank because I am able to do so 😊
Think being out of the house for about 14 hours per day when doing a 12 hour shift help with not using the electric and gas has kept this down.
I have even donated a few times groceries to the local community food Bank because I am able to do so 😊
panicking about how long I'm going to have to live at home for when I graduate 
Sat here wearing thermals 
Original post by Ghostlady
As a parent the cost of living has affected us. Basically I have two daughters, one whom is 21 and in her 3rd out of 4th year of university. My second daughter is 17 and in her year 13 and is also wanting to go to university.
Having an income from both myself and my husband helps, but because of that, our daughters will not get the full student finance so we have to put towards it. Which is fine, but with the cost of living crisis, and their rent of their halls going up, and our own mortgage going up on top its not going to be easy. Will student finance go up to compensate for the extortionate rental rises the uni charges? I really dont see that coming.
Going to university is a luxury for some, especially for middle earners who have lots of other outgoings going up, and even the low or no income earners are being out priced now because of the full student finance whack cant keep up with the cost of living. And what happens to students who need to get a job but cant? They have to drop out of uni? Thats unacceptable.
I know some people really have it tough as well, my own family has it hard right now.
As a kid we went through recession and I remember things were tight. I have many memories where we had to scrimp and save. We got through it, and we will get through this again.
Having an income from both myself and my husband helps, but because of that, our daughters will not get the full student finance so we have to put towards it. Which is fine, but with the cost of living crisis, and their rent of their halls going up, and our own mortgage going up on top its not going to be easy. Will student finance go up to compensate for the extortionate rental rises the uni charges? I really dont see that coming.
Going to university is a luxury for some, especially for middle earners who have lots of other outgoings going up, and even the low or no income earners are being out priced now because of the full student finance whack cant keep up with the cost of living. And what happens to students who need to get a job but cant? They have to drop out of uni? Thats unacceptable.
I know some people really have it tough as well, my own family has it hard right now.
As a kid we went through recession and I remember things were tight. I have many memories where we had to scrimp and save. We got through it, and we will get through this again.
Yeah that makes sense - we've heard a few stories of students in similar positions where they're not eligible for full support from systems in place but in some cases also aren't able to receive any support from family. It's a good point you make about whether uni being a luxury for some and potentials for drop outs.
I hope your second daughter's uni application is going well at the moment by the way.
Original post by Username159
Family struggling to pay so I took a part time job while resitting A levels to help pay my exam fees/tutoring as well as help pay the bills and feed us. Cutting back as much as we can
Really not a glamourous gap year haha and tiring as hell
But worth it for now
Really not a glamourous gap year haha and tiring as hell
But worth it
for now Wow sounds like a pretty jam packed gap year for you. Good on you though, that's tough going, but it sounds like it's for something that really motivates you. I hope your resits are going well.
Original post by BlinkyBill
With costs of groceries, energy and fuel (to name a few) rising across the UK, lots of people are feeling the impact.
This article from The Guardian in September, and another from the Financial Times this week talk about concerns that the rise in cost of living is stopping young people from having a healthy social life, and there's a risk of increased loneliness.
Perhaps it's not being able to spend time with friends as regularly, not being able to afford going on dates, or not having access to disposable income to spend on activities that benefit your wellbeing (like gym memberships or mental health apps).
Or maybe you're experiencing impacts on your housing, access to groceries, ability to pay bills, or ability to plan for the future. Many financial commentators have also spoken about the disproportionate impact of this squeeze on the most vulnerable in our society.
Money is sometimes seen as a difficult topic to discuss, but this is a safe space to share your experience. Maybe by doing so, others will know they're not alone. At TSR we'd also like to learn about what support you need so we can work on helping.
If you've got any tips to share for managing, those are welcome to!
Blackbullion has a great survival guide you might find handy, plus Student Space has some great advice on dealing with worry about money and Paylplan also offer free debt advice if you'd find it helpful.
This article from The Guardian in September, and another from the Financial Times this week talk about concerns that the rise in cost of living is stopping young people from having a healthy social life, and there's a risk of increased loneliness.
Perhaps it's not being able to spend time with friends as regularly, not being able to afford going on dates, or not having access to disposable income to spend on activities that benefit your wellbeing (like gym memberships or mental health apps).
Or maybe you're experiencing impacts on your housing, access to groceries, ability to pay bills, or ability to plan for the future. Many financial commentators have also spoken about the disproportionate impact of this squeeze on the most vulnerable in our society.
Money is sometimes seen as a difficult topic to discuss, but this is a safe space to share your experience. Maybe by doing so, others will know they're not alone. At TSR we'd also like to learn about what support you need so we can work on helping.
If you've got any tips to share for managing, those are welcome to!
Blackbullion has a great survival guide you might find handy, plus Student Space has some great advice on dealing with worry about money and Paylplan also offer free debt advice if you'd find it helpful.
As yet it has had no substantial impact beyond decreasing the rate at which my savings can accrue (currently about a grand a month but i'll be moving somewhere more expensive in the coming months). The Rakas economy is in rude health.
It's important for people to remember that while inflation does reduce our purchasing power, Britain is actually a very middle class country and as such while the media paints a 'eat or heat' picture, that's a relatively small sample of the population.
Original post by Ghostlady
As a parent the cost of living has affected us. Basically I have two daughters, one whom is 21 and in her 3rd out of 4th year of university. My second daughter is 17 and in her year 13 and is also wanting to go to university.
Having an income from both myself and my husband helps, but because of that, our daughters will not get the full student finance so we have to put towards it. Which is fine, but with the cost of living crisis, and their rent of their halls going up, and our own mortgage going up on top its not going to be easy. Will student finance go up to compensate for the extortionate rental rises the uni charges? I really dont see that coming.
Going to university is a luxury for some, especially for middle earners who have lots of other outgoings going up, and even the low or no income earners are being out priced now because of the full student finance whack cant keep up with the cost of living. And what happens to students who need to get a job but cant? They have to drop out of uni? Thats unacceptable.
I know some people really have it tough as well, my own family has it hard right now.
As a kid we went through recession and I remember things were tight. I have many memories where we had to scrimp and save. We got through it, and we will get through this again.
Having an income from both myself and my husband helps, but because of that, our daughters will not get the full student finance so we have to put towards it. Which is fine, but with the cost of living crisis, and their rent of their halls going up, and our own mortgage going up on top its not going to be easy. Will student finance go up to compensate for the extortionate rental rises the uni charges? I really dont see that coming.
Going to university is a luxury for some, especially for middle earners who have lots of other outgoings going up, and even the low or no income earners are being out priced now because of the full student finance whack cant keep up with the cost of living. And what happens to students who need to get a job but cant? They have to drop out of uni? Thats unacceptable.
I know some people really have it tough as well, my own family has it hard right now.
As a kid we went through recession and I remember things were tight. I have many memories where we had to scrimp and save. We got through it, and we will get through this again.
The obvious way to cut costs here is to make them live in a shared house rather than student halls. I recall the price difference for me was about 50% between first and second year. Additionally, push them to have a part time job. Despite what they will claim, almost all university courses give ample time for 10+ hours on the weekend.
Original post by Rakas21
As yet it has had no substantial impact beyond decreasing the rate at which my savings can accrue (currently about a grand a month but i'll be moving somewhere more expensive in the coming months). The Rakas economy is in rude health.
It's important for people to remember that while inflation does reduce our purchasing power, Britain is actually a very middle class country and as such while the media paints a 'eat or heat' picture, that's a relatively small sample of the population.
It's important for people to remember that while inflation does reduce our purchasing power, Britain is actually a very middle class country and as such while the media paints a 'eat or heat' picture, that's a relatively small sample of the population.
You seem relatively unaffected by the cost of living crisis in terms of maintaining typical luxuries and having money to spare, which I’m glad to hear, but please recognise that people who aren’t as fortunate are real and more than a percentage. The fact that the amount of people severely affected is greatly increasing in terms of actual figures is a valid concern, and much of the population are affected in less damaging but impactful ways.
Original post by Rakas21
The obvious way to cut costs here is to make them live in a shared house rather than student halls. I recall the price difference for me was about 50% between first and second year. Additionally, push them to have a part time job. Despite what they will claim, almost all university courses give ample time for 10+ hours on the weekend.
Also, every family situation is different, so what might be ‘obvious’ to you as an onlooker with limited information might not be possible in theirs, although some people refrain from oversharing online. Please be respectful and understanding of this fact.
Original post by Rakas21
The obvious way to cut costs here is to make them live in a shared house rather than student halls. I recall the price difference for me was about 50% between first and second year. Additionally, push them to have a part time job. Despite what they will claim, almost all university courses give ample time for 10+ hours on the weekend.
The obvious way to cut costs here is to make them live in a shared house rather than student halls. I recall the price difference for me was about 50% between first and second year. Additionally, push them to have a part time job. Despite what they will claim, almost all university courses give ample time for 10+ hours on the weekend.
Shared house in first year, is that possible? With jobs it depends on two factors. If your already doing 40-50 hours a week on your degree (inc independant study) or if you can get a job in the first place. A student cant rely on that as a certainty.
(edited 1 year ago)
•
Cheaper forms of entertainment, mostly outdoors (which I was doing already)
•
Cutting out non-essential groceries (£30/week saving)
•
Less alcohol, especially on nights out (which I already drank relatively little off)
•
Less eating out (about £50-£100 less per week)
I generally spend much less on non-essentials than most people do. So there's not much to cut back on for me anyway. But I find paying £1.50 for a carton of milk offensive, when the same carton was £1.10 just 6 months ago. I don't believe inflation is actually 10%. I think it's much more.
I was lucky to lock myself into 24-month contracts which fixed my energy costs, just before they shot up. That saves a bomb.
I don't have any expensive habits or hobbies either. I don't date particularly often, once a month at most and I split it. I just generally don't do something if I don't think it's worthwhile in the first place. I don't do things simply out of boredom, or to maintain a certain 'appearance'. That principle alone saves a shed load of money in contrast to a lot of people I know.
Ironically perhaps, my spending on expensive/branded items has increased, but this is very selective. Basic goods usually increase in cost during times like this, whereas 'luxury' items either remain at the same price, or even drop in cost, because fewer people have money to spend on them, so demand falls. I'm taking advantage of this slightly... but opt to buy things that don't depreciate in value as they age.
(edited 1 year ago)
Original post by BlinkyBill
Yeah that makes sense - we've heard a few stories of students in similar positions where they're not eligible for full support from systems in place but in some cases also aren't able to receive any support from family. It's a good point you make about whether uni being a luxury for some and potentials for drop outs.
I hope your second daughter's uni application is going well at the moment by the way.
I hope your second daughter's uni application is going well at the moment by the way.
Were pretty fortunate to be able to afford both going to uni at the same time, despite things being a bit tight. Yes its going good. we have seen all five unis but just got to get the application together and see how it goes
Original post by Rakas21
The obvious way to cut costs here is to make them live in a shared house rather than student halls.
I recall the price difference for me was about 50% between first and second year. Additionally, push them to have a part time job. Despite what they will claim, almost all university courses give ample time for 10+ hours on the weekend.
I recall the price difference for me was about 50% between first and second year. Additionally, push them to have a part time job. Despite what they will claim, almost all university courses give ample time for 10+ hours on the weekend.
This can be very difficult for a single student with limited savings, no guarantor or rental references to manage in popular uni cities like London.
Supply is very limited and competition is intense.
Plenty of landlords prefer to rent all inclusive rooms to full time professionals in their 20s-40s with stable jobs, higher incomes and good references.
During the early years of my uni life I did try to restrict my accomodation costs by renting rooms in mostly all-inclusive houseshares.
But it was still a massive chunk of my income as an undergrad and moving costs pushed me even deeper into credit card debt.
Within 6 years, the credit card debt hit £50k and would probably never have been fully paid off if I hadn't received a cash settlement during the pandemic.
Original post by Ghostlady
Shared house in first year, is that possible? With jobs it depends on two factors. If your already doing 40-50 hours a week on your degree (inc independant study) or if you can get a job in the first place. A student cant rely on that as a certainty.
Sometimes.
It depends on the uni, supply levels of student accomodation nearby to the campus and the specific student's health & accomodation needs.
Rented houseshares are not an option suitable for everyone.
Im a PhD student so my income is fairly low atm, it’s put up my rent & housing costs, food & petrol bills although fuel has partially come back down the knock on effects are less money i can save each month, although my lifestyle hasn’t really changed.
Once the government started printing money during covid i saved a lot as most people probably assumed inflation was coming. Tbh i was kinda surprised it took this long to arrive, i was expecting it sooner.
I wish I could put more money into index funds but right now i prefer keeping more cash for further consumable volatility.
Once the government started printing money during covid i saved a lot as most people probably assumed inflation was coming. Tbh i was kinda surprised it took this long to arrive, i was expecting it sooner.
I wish I could put more money into index funds but right now i prefer keeping more cash for further consumable volatility.
Original post by NonIndigenous
I find paying £1.50 for a carton of milk offensive, when the same carton was £1.10 just 6 months ago.
I don't believe inflation is actually 10%. I think it's much more.
I find paying £1.50 for a carton of milk offensive, when the same carton was £1.10 just 6 months ago.
I don't believe inflation is actually 10%. I think it's much more.
PRSOM.
I believe that true inflation within much of London, Southern England and Northern Ireland may be in excess of 30%.
The costs of many basics in the shops and online have skyrocketed.
Not just the things like dairy milk & cheese, hen eggs, sunflower oil, instant coffee, toilet paper and washing up liquid.
Also British fish, fruit, plant based dairy & meat substitutes, poultry feed and potatoes.
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