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The latest student loan payments landed in bank accounts last month, bringing great relief and excitement as well. It is the perfect time to buy in bulk at the supermarket and pick up the books on your reading list - but it can also be tempting to make impulse purchases too.
There are probably a number of eyebrow-raising items in your uni room but you're not the only one. In fact, one in five students in the UK admits to having bought unusual things with their student loan. The strangest purchases range from a life-size statue of Nicolas Cage to decorative swords, a bust of Elvis Presley and even an elephant's foot umbrella stand!
Money Dashboard's new study also uncovered purchases more typical to life on campus and student nights out. Fancy dress parties are still a major motivator for strange buys, which include a monk's robe, a Where's Wally onesie and a chicken suit. The findings of the study also suggest that size matters when making peculiar purchases during term time, as giant versions of inflatable bats and bananas, rubber ducks and cuddly toy tigers prove popular.
Everyone succumbs to a bit of unnecessary spending from time to time but how can you ensure you can afford a strange purchase or two and be good with money this term? You could start by using Money Dashboard to see where you were overspending last semester and begin tracking your purchases - from new clothes to nights out - so you can see exactly where your money's going.
Not only can you see what you've been spending on a monthly, daily and weekly basis but Money Dashboard's budget planner can show you what's safe to spend each month and what you have left over. It also uses past spending patterns to predict future outgoings - although, being able to tell you what your next crazy purchase at uni will be may be one step too far.
Top 10 most unusual student purchases
- A bust of Elvis Presley
- An elephant's foot umbrella stand
- A life-size statue of Nicolas Cage
- Decorative swords
- A monk's robe
- Kangaroo steaks
- A giant inflatable bat
- Krill oil
- A Newton's cradle
- A ceramic owl
Posted by Money Dashboard