As a student in London, you have a lot of opportunities as well as responsibilities to tackle. When the time comes to turn in your academic assignments, you probably know how to handle most things thrown your way. You set aside time to study and, when your in a pinch, use all the resources available to you such as the universities tutoring services, a professional .
When it comes to your finances, though, you need to be just as prepared. However, that doesn’t mean that you have to sacrifice your chance at adventure as a student to make ends meet. In this article, we are going to look at 7 of the best ways you can save money while getting the most out of your experience as a student in London.
Plan Your Budget
It can be difficult to properly save and spend money if you aren’t aware of how much money you have and how much money you need. So, the best place to start if you want to make the most out of your life in London living on a budget, is to for you to reference as needed.
To plan a budget properly, you need to consider how much you make compared to how much you spend. You will want to consider mandatory costs – such as your rent or money for groceries – before you set aside money to have fun with.
Use a Student Oyster Card
As a student, one of your first orders of business should be to get a . With one of these, you will be able to easily get around the city while saving a few bucks. In fact, you can save as much as 30% on the adult rate of some modes of transportation.
To enroll in this Oyster Card program, you will need to be at least 18 years old and enrolled in university. In addition, you will need certain documentation such as your school photo ID and a London address.
Take Advantage of Free Events
When you are looking for something to do on any given London day, this doesn’t mean you are destined to drop a fair amount of money on whatever event you choose. At any given point during the year, you can most likely find events that are to attend.
This way, you get to attend an event and get outside of your dorm or apartment to do something new and fun. All this, without having to pay a cover or buy tickets.
Shop During Sales
Another thing that can add up fast is expenses from shopping. This can be shopping for something as common as groceries or a more rare expense, such as replacing an old pair of jeans.
The easiest ways to work with these expenses is to try and catch sales. This way, you can get exactly what you need without paying the whole price. Another good idea is to keep an eye out for coupons and chances to earn cash back.
Choose Your Utilities Carefully
Living in a big city like London comes with certain benefits. For example, you aren’t limited to a single provider to choose from when it comes to internet or phone. So, you should carefully consider all your options.
Remember, though, you shouldn’t solely compare price. Instead, evaluate for value. If you want a certain data plan with your internet but it costs a little more than another option, you should choose what you need over just what you pay. After all, if you pay less but don’t have what you need, you aren’t getting the most out of your London experience.
Look for Roommates, Not a Studio Flat
If you are living in London for school but still want your own place, there are certain things you should consider. Namely, you should consider sharing a multiple room flat instead of a studio flat. This is because studio apartments are more expensive even when just looking at rent alone.
With roommates, though, utilities also become more affordable as well. For example, if you want unlimited internet in a studio flat, you have to pay the full price. If you are living with roommates, though, this internet bill could be split amongst you.
Don’t Live Right In Central London
As a student living on a budget looking for a place, you won’t want to look to rent somewhere directly in central London. When you are looking, you will see a dramatic drop in price if you look on the outskirts of London. This is because a lot of people want to live in central London and, by basic economics rule, this demand drives the price of these flats up.