How should I break up with her in this situation?

I shall lay the situation out concisely:

We have been in a relationship for 2 years.
She is my first girlfriend, but I am not her first boyfriend.
She is 4 years older than me.
I am 20.
I have never cheated on her.
I am about to go into my second year at university.
She has already finished university and is looking for a job.
She spends the vast majority of time with me in my university hall.
She hates the idea of me talking to other girls.
If I say that I have been talking to a girl, I have to specify all the details such as name, how attractive they are perceived to be, what we talked about etc.
When I come back from my part time job late at night and I'm tired, she starts asking about if I was with other women etc.
She has more money than me and I am always out of pocket because of activities we do together.
She buys stuff for herself.
If I spend my money on myself, she says I'm selfish and starts an argument.
She always pays if I can't, and I always feel bad.
She will always bring that into arguments.
I feel like I have lost all power and that she is the boss.
I now want to break up the relationship before I get back into university to avoid her moving in and making the situation more difficult.

Now, we both live with our parents and if we meet up, she picks me up and we usually go to her house and sometimes other places. She doesn't like doing things I like when we are there and I feel like I'm just doing activities to please her. I will get an ear full if I want to do something I want to do. Now, how should I break up with her? Ask her to pick me up, drive us to a local park and break up with her when we have found a bench in a sort of private place? I could walk back home, which would avoid arguments. I am considering saying something like "We are going in different directions" or "We have too little in common". She can get very upset and emotional and could bring all the good things she does for me into the mix. What should I do?
How should I break up with her in this situation?
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