Students are preparing to head off to university for Freshers’ Week but new research says nearly half are struggling to budget for food despite spending big on takeaways
As thousands of students head off to university for Fresher’s Week, Nationwide has brought out some of TV and entertainment’s biggest stars to dish out food to ‘struggling’ students.
NationFried, a pop-up dishing out takeaway and advice, is back once again as the high street bank does its utmost to drive sign-ups for its new FlexStudent account. It offers £100 free cash, as well as £120 worth of Just Eat vouchers, and interest-free overdraft of up to £1,000 in the first year.
Love Island’s Olivia Attwood and Googlebox alumnus Joe Baggs served up hungry students at a London café, passing out fry-ups and advice to students beginning university life. It comes as new research reveals nearly half of students are struggling to budget for food despite still spending on average £150 on takeaways each month.
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The study, conducted by Nationwide, found that nearly one in five splurge over £200 on apps like Uber Eats. Almost a quarter (24%) blame their dependence on ordering food on being too lazy to cook, while over a half (51%) admit to only having five meals in their homemade repertoire.
Whether it’s a late night meal after hours of partying, or a sobering fry-up, it’s more than clear that students are happy to spend a little extra to treat themselves. In the hope of feeding these academics, Love Island star Olivia Atwood and Gogglebox alumni Joe Baggs took over a London café to not only serve up tasty food, but offer a generous portion of life advice to people who are more than likely navigating their way through financial independence for the first time.
Olivia said: “Starting university is such an exciting time, but let’s be honest, learning to look after yourself and manage a budget can be a real challenge. Like many others, I’ve had my fair share of pasta nights, which is why it was so fun to pass on my advice and serve up some much-needed fry-ups to those getting ready to embark on their university journey.”
While Joe added: “When you’re trying to meet new friends and make the most of your newfound freedom, it’s not always easy to balance a budget. When I flew the nest, I found it hard not to overspend and always gave in to buying myself little treats on my way to the checkout.
“Having learnt a lot over the years, it was so exciting to be able to help students kick-off their Freshers Week with a full belly and some top tips that I hope they don’t hold me to!”
Nationwide’s research also found other budgeting mistakes students are making. These include buying too much food that perishes in the fridge, eating out at restaurants they can’t realistically afford, relying too much on takeaways, and not knowing where to buy the cheapest ingredients to help you with affordable home cooking.
“Food plays such a huge part in student life. It’s not just about meals, it’s about socialising, comforting dishes, and the first taste of independence,” said Fred Powell, the bank’s Head of Product.
“But, with many learning to budget for the first time, and the cost of living higher than ever for students, it can be tricky to find that balance.
“Our FlexStudent account helps students to stay on top of their finances, manage their money more easily and gives them tasty perks so that they can save money and enjoy treats like a delicious takeaway”.