Staying at home can save students €4000 a year according to DIT Study

Dublin, 10th August 2006:            With the Leaving Certificate results on the horizon, the Dublin Institute of Technology has compiled a very useful cost-of-living guide for students.  The DIT guide shows that staying at home is up to €4000 cheaper for students and their families.  A student living in rented accommodation should budget €7243 for the college year according to DIT figures, while a student living at home will need just €3128.

Produced by DIT's Campus Life Office, the main points of the Cost of Living Guide for 2006/7 are as follows:

  • Rents have increased by around 5% this year over last year, but are still below their 2002 levels.
  • Electricity, gas and other utility bills will have the largest percentage rise, going up by around 25% this year.
  • Most costs are relatively stable.  The spend on mobile phones is expected to decrease slightly for most students, as they increasingly move to web-texting and instant messaging.

Brian Gormley, Manager of Campus Life in DIT said, 'This Cost of Living Guide is being issued to encourage students to look seriously at their budget for next year.  They need to work out how much income they will have, and make sure they set aside money each for the essentials, like rent and food, before they plan a night out.'

Cost of Living for Student Renting Accommodation

Expense

Monthly

Annual Cost

 Rent 315 2835

Elec/Gas/Bins

30

272
Food 160

1440

Travel (Monthly Commuter Ticket)

77

693

Books 35 314

Clothes/Medical

46 415

Mobile Phone

31 279

Social Life/Miscellaneous

111 995
Total 805 7243 

 Cost of Living for Student Living at Home

Expense

Monthly

Annual Cost

Contribution to bills

28 254
Food 48  432
Travel 77  693
Books 35 314

Clothes/Medical

46 415
Telephone 31   279
Social Life/Misc 111 995
 Total 376 3382
Sources used to produce this Cost of Living Guide included the Daft.ie website, the HEA Eurostudent Survey II, and surveys with over 500 students.

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