The bar chart illustrates the average monthly outlay of the British students in pounds and belongs to six different categories (food, bills, rent, travel, socializing, and others) for the year 2016. Meanwhile, the bar chat depicts the proportion of the students who used various six methods (student loan, family, part-time job, savings, bank overdraft, and grants and funding) to generate income in the same year.
Overall, the largest amount of money was spent on the rent, while expenditure was the least on travel. Meanwhile, the highest amount of money they spent was from student loans, whereas the fewest number of scholars had the support from grants and funding.
Regarding monthly student expenses, approximately 50% was spent on the rent (385 pounds). Between other categories, a significant amount of money was spent on food and other needs, 124 pounds and 91 pounds, respectively. Moreover, the learners typically had to pay 69 pounds for bills, and they preferred to spend approximately an equal amount of cash for socializing (64 pounds). Additionally, their travel costs were as little as 52 pounds.
On the other hand, student loans were the source of income for considerably over 80% of students. The proportion of learners who relied on family for money was notably high, at 70%. Similarly, students who were engaged with part-time work were approximately 69%. In contrast, the percentage of scholars who spent their savings and bank overdraft were relatively equal (just over 41%). Comparatively, the proportion of students who received grants and funding was substantially low at 40%.