Newcastle Building Society and Abbey give money advice to students

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Newcastle Building Society and Abbey give money advice to students

Wed 20th Aug 2008

Students are leaving themselves open to burglary and suffering the consequences of inflation, Newcastle Building Society and Abbey have said.

Newcastle warned that almost a fifth of people of university age do not have home contents insurance, while over a third of students have left the house without locking the windows.

In addition, one fifth has forgotten to lock the door when going out.

Of those 18 to 24-year-olds surveyed, 14 per cent have made an insurance claim, with burglary the most common reason.

Wendy Lee of Newcastle Building Society urged students to ensure they have proper home contents cover.

Meanwhile, Abbey has calculated that this year's students need to spend £127.40 more than last year for their grocery shopping.

The research involved asking students what food they bought weekly and comparing the costs in both years using Office of National Statistics data.

Steve Shore of Abbey said inflation was "eating into student spending power at an incredible rate".

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