Students in Cardiff are Most Money Savvy, says Study

Sept. 19, 2011 - PRLog -- With university tuition fees set to rise to as much as £9,000 per year from the 2012/2013 academic year, combined with an increase in the cost of living, new and future students are being forced to become thriftier to make money last throughout their studies.

A new study from a leading discount website found that 78% of new students were worried that their loan payment would not be enough money to live off, with 35% hoping for financial support from parents and 47% planning on finding part time employment as an extra form of income.

The poll, conducted by www.MyVoucherCodes.co.uk asked 1,393 university students aged 18 or over whether they had planned to budget their student loan payments. Only 19% had considered how much money they would have to spend after costs such as accommodation and other bills.

Participants were also asked which university they attended, and whether they had previously used a discount website before making a purchase. A total of 68% of respondents said that they already used discount codes when shopping, with 28% saying that they would consider using discounts in the future, whilst only 4% had no intention of using them.

The top 10 university towns or cities whose students most commonly used discount codes currently, according to the poll by MyVoucherCodes.co.uk, were as follows:

1.   Cardiff               58%
2.   Nottingham            51%
3.   Birmingham            47%
4.   Bath               44%
5.   Edinburgh            39%
6.   Brighton                    36%
7.   Southampton         28%
8.   Cambridge            22%
9.   Manchester            21%
10.   Oxford               19%

Mark Pearson, chairman of MyVoucherCodes.co.uk, had the following to say about the study:

“I’m surprised and pleased to find that so many students are using discount codes when making purchases, but a bit disappointed that so few plan a weekly budget. Student loans are a sizeable amount of money to receive all at once, but many students are unprepared. I remember how expensive all the textbooks were, and how tempting it was to spend all my money on new clothes and nights out instead!”

He added:

“Whilst all the high street stores are bombarding students with tempting deals, its worth remembering that MyVoucherCodes offer discounts and deals that often won’t be available elsewhere, which will hopefully help new and existing students to stretch their student loans a little bit further.”

ENDS

LINK www.MyVoucherCodes.co.uk

For more information, contact Iona St. Joseph of 10 Yetis Public Relations Agency on 01452 348211 or iona@10yetis.co.uk.

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Editor’s Notes

Mark Pearson, chairman of MyVoucherCodes is a regular media contributor regarding online shopping and the credit crunch. At 30, his personal worth is more than £30 million. Mark was previously a trainee chef working for Gordon Ramsay at Claridges, London.

Mark appeared as a ‘Secret Millionaire’ in the series on Channel 4, in which he donated £115,000 of his own money to worthy causes.

MyVoucherCodes has had sales exceeding £481m in the last year