Being a student can be a difficult venture and letting loose is always a great way to remind yourself of the price of your student vices and how they are affecting your declining bank account. These statistics are shocking and will make one want to stop spending money right away. The average student spends an approximate $12,500 a year on unnecessary items, including shoes, alcohol, energy drinks, coffee and takeout food.
Students spending this money often don't recognize the amount of money that is actually being spent and often regret to see the many amazing things they could have purchased instead. Much like a vacation, a MacBook Pro, a digital SLR camera or all the way up to a down payment on a home.
Shocking Student Expenditures
The Price of Student Vices Creates Debt for Buying Wastefully
Trend Themes
1. Student Budgeting - A trend towards budgeting and financial planning apps for students to monitor their expenses and make more informed financial decisions.
2. Sustainable Student Living - A trend towards environmentally-conscious behavior among students, leading to opportunities in sustainable products and services for students.
3. Virtual Campus Resources - A trend towards virtual campus resources, leading to the potential for innovative, online-based solutions for accessing social events, organization events, and career fairs.
Industry Implications
1. Fintech - Opportunity to create apps and tools that help students manage their personal finances and budgeting more effectively.
2. Eco-friendly Products and Services - Opportunity for environmentally-friendly products and services targeting campus consumers, such as sustainable food options, products and services that reduce energy costs, and eco-conscious household items.
3. Edtech - Opportunity to develop online, campus-wide resources that provide virtual access to student organizations, events, and speaker series in a way that facilitates ease for students to attend and get involved in campus life.