In international comparison the Carpathian Basin has had abundant freshwater resources for the last thousand years. But does this mean that Hungarians do not have to worry about saving water? Unfortunately, the climate change caused by global warming will not leave the area unaffected. Therefore, forming a conscious consumer attitude and introducing new water-saving methods and technologies are essential in order to further reduce the water wastage in Hungary and save this precious natural resource for the next generations. With this intention we have decided to conduct this research about the water consumption and the water wastage among young people, namely students living in the Students’ Halls of Residence at Mátyásföld. The objective is to find out how wastage in the students’ hall could be reduced by raising the awareness of the residents. Using more water-efficient household appliances and introducing new co-operation systems could be beneficial in this respect. This research also investigates the financial aspects of saving water along with other expenses related to the new household appliances as well.