Budgeting 101: A Student’s Guide to Cost of Living in Liverpool, UK

Mastering Student Finances in Liverpool: A Guide to Living Smart in a Vibrant City

Dreaming about a life filled with excitement and endless memories comes with a cost. Haven’t you thought about it yet? Let alone living alone in a new city like Liverpool, handling finances can be a daunting task. Of course, when you move to a new place, you have to figure out a budget within which you can survive and sustain.

Liverpool is a lively city, famous for its academics, student accommodation, heritage and more. Not only being a beacon of culture, Liverpool was also a place where the legendary Beatles were born. And, who doesn’t wish to be in a city which breathes youthful energy?

With roughly 70,000 students including international students, this city is one of the most loved cities in the UK. If you are coming to this vibrant city in the UK, you must be aware of the essential cost of figuring out your finances. And, we are here to help. Simply put, this blog will guide you through the essential costs and tips to save money to make the most of it. Let’s find out what’s there in our treasure!

Average Cost of Living in Liverpool, UK

Given the stats and current trends, the average cost of living in this city ranges from £700 – £1,300 per month. This cost includes student accommodation in Liverpool, food, public transportation, leisure activities and more.

However, the cost of living depends on the person. Some students look for budget-friendly options while some throw money out. In simple terms, you can easily personalize your budget plan according to the market trends. Moreover, finding budget-friendly options in Liverpool will never be a problem. This city offers various housing options, affordable supermarkets, restaurants and more. You just need to find the one which suits you and your pocket.

Breakdown of Cost of Living in Liverpool

From student housing in Liverpool to leisure activities, there are costs for everything. To simplify your research, here’s a breakdown of living costs:

 

Student Accommodation in Liverpool

Finding a perfect place to live will never be a problem as the rental market has plenty of options. Be it traditional student dorms to luxurious student rooms in Liverpool, you can find any type of your choice.

As for the cost of student apartments in Liverpool, it depends on what kind of housing you are going for. For instance, if you prefer living in a shared space, the cost varies from £350 to £800 per month. Further, if you wish to live in a private student residence, the typical cost comes between £600 to £900, excluding utilities.

The rental market also offers both long-term and short-term student accommodation in Liverpool. This way you can explore different flexible accommodations in Liverpool and manage costs as per your budget. Plus, the cost changes according to your preference.

 

Grocery & Food Expenses- As necessary as Student Housing in Liverpool

As you have to spend money on accommodation, the cost of food is also essential. These expenses can be managed as per your preference. Let us explain to you in simple terms. If you prefer to eat out, you might have a larger expense on your hand than eating in.

The average cost for food and grocery goes between £30 to £40 per week. This standard cost be managed as follows:

● Bulk Buying: Buying groceries like non-perishable goods in bulk can save a lot of bucks. There are many supermarkets like Aldi, Lidl or Tesco, offering student discounts and deals along with a range of affordable products. Hence, buying in bulk can lead to reducing the cost.

● Eating Out: The typical cost for a meal ranges from £10 to £15. If you eat three meals a day, it will cost around £30 to £45 a day which can be expensive. However, there are many restaurants offering student discounts which can reduce the costs. So, never forget to take advantage of student discounts and deals when in Liverpool.

 

Streamline Your Travel Expenses with Compact Transportation

Liverpool is a compact city that comes with endless options for public transportation. You can simply travel around the city through buses, trains, ferries and taxis. With endless student discounts and deals, you will find travelling cheap. The typical cost of public transportation includes:

● Buses or Trains: The weekly bus pass costs around £17- £20 while a single ride is around £2 to £4 depending on zones.

● Cycles: You can rent or buy cycles as the city is becoming more bike-friendly with ongoing carbon emission projects. There are plenty of bike hire schemes that cost as low as £1 per hour.

 

Social Life- Live a Little when in Liverpool

You can’t be cooped up in your cute student accommodation in Liverpool all day. Moving to a new country brings plenty of opportunities to explore, learn and have fun. As a result, experiencing a social life in Liverpool is a must. As for the costs, it includes:

● Cinema, Theatres and Events: You can enjoy a movie at £7 to £10 with student discounts. Besides this, you will find many annual festivals with free entries or low-cost tickets. Plus, there are many museums like the World Museum or Museum of Liverpool which you can explore at no cost.

● Nightlife: Being an affordable city, experiencing nightlife in Liverpool can be relatively low. The pubs offer drinks at £3 to £5. Plus, entries to clubs cost around £5 to £10, depending on the night.

 

Basic Tips to Save in Liverpool

Once you start living in Liverpool, you will find plenty of ways to save money. Some key tips you can follow to save money are:

● Try to eat in as much as possible as groceries are cheaper than eating outside.

● Always take advantage of student deals and discounts when travelling. Plus, buy bus or train passes as it helps in cutting down travel costs.

● Explore budget-friendly and flexible student accommodation in Liverpool. So, find what fits your budget and save as much as possible. In addition, you can explore websites like StudentTenent and others that offer different kinds of student accommodation in Liverpool.