Maintaining a well-planned and stress-free budget is essential for a happy university experience.
To manage your student budget in London effectively, consider all expenses beyond accommodation and textbooks, such as food, travel, utility bills, internet, and TV. These are referred to as living costs.
While exact amounts can vary depending on your lifestyle, including how often you go out, whether you cook or opt for takeaways, and your general spending habits, it’s important to plan accordingly. Whatever your lifestyle, we’ve gathered a variety of tips to help you save money and organise your student budget efficiently.
1. Choose to Cook
While an occasional takeaway is a treat, cooking your own meals can save you a significant amount of money. A week’s worth of groceries, including fresh fruits and vegetables, meat, fish, dairy, coffee, tea, and treats, can cost around £40. Cooking at home not only helps you manage your budget but also allows you to eat healthier by controlling the ingredients and portions.
2. Where to Shop for Food
London offers a wide range of affordable grocery options. Just a short walk from our Borough High Street campus, you’ll find an Aldi and across the street, there’s a Lidl, popular for its diverse selection of international foods. For a more extensive selection, you can visit the nearby Sainsbury’s, which also stocks household essentials.
Top Tips:
Avoid shopping when you’re hungry to prevent impulsive purchases.
Make a shopping list and stick to it to avoid buying unnecessary items.
3. When You Eat Out or Order In
Part of the student experience is enjoying meals out or ordering in occasionally. You can do this without breaking the bank by planning it into your budget. London is teeming with student-friendly eateries and deals. We’ve highlighted some great options for you.
– Close to campus:
The George Inn: A historic pub offering traditional British fare with a cosy atmosphere. They provide a 10% discount for students—just show your student ID.
Borough Market: A foodie’s paradise just minutes from campus, offering a variety of international cuisines and street food at reasonable prices.
– In Central London:
Wagamama: Known for its Asian-inspired dishes, Wagamama often has student discounts. It’s a great spot for a quick and tasty meal.
Pizza Pilgrims: For delicious Neapolitan pizzas, Pizza Pilgrims offers affordable options with frequent student deals.
Turtle Bay: If you’re in the mood for Caribbean flavours, Turtle Bay offers a lunch menu starting at just £5, with large portions perfect for sharing. They also have a 2-for-1 cocktail deal running most of the day.
Top Tip: Always ask if there are any student discounts or daily deals wherever you go. You might just score a free dessert or a discount!
Traveling in the UK can seem costly, but there are excellent student deals if you invest in a student travel card for various modes of transportation.
1. Local Travel
For frequent travel around London, consider getting an Oyster card or a student travel card for TfL services. This card offers discounted fares on buses, trams, and the Tube, making it easier and more affordable to navigate the city.
2. Travelling Nationally by Bus
For those who enjoy exploring the UK beyond London, National Express offers the Young Persons Coachcard, providing discounted fares for students. It’s an economical way to see the country.
3. Travelling by Rail
Students aged 16 to 25 can enjoy a third off rail fares with a 16-25 Railcard. Mature students in full-time study may also be eligible. The Railcard offers additional discounts on restaurants, hotels, and more, making it a valuable investment for both travel and leisure.
4. Travelling by Plane
International students or those who frequently travel long distances should check out loyalty programmes offered by airlines. British Airways, for instance, has the Executive Club, where you can earn Avios points on flights, holidays, hotels, and car rentals. These points can be redeemed for discounts on future trips, making it a great option for regular travellers.
Being a student involves more than just attending lectures, completing coursework, and studying for exams. Sometimes, after working hard, you need to reward yourself with a night out, a trip to the cinema, or a bit of shopping therapy.
1. Cinema Offers
If you love catching the latest blockbusters, London has numerous cinemas offering a range of experiences, from standard screens to IMAX. The BFI IMAX and Odeon Leicester Square are popular choices, both offering student discounts and special deals on tickets.
2. Happy Hour
For a fun night out or a few drinks with friends, many bars and restaurants in London offer Happy Hour specials, particularly on weekends. A popular student spot is The Old Thameside Inn on the South Bank, offering 2-for-1 cocktails and a great view of the river. Check local listings for more student-friendly deals.
3. Groupon
Looking for a spa day, a unique experience, or just something different? Groupon is a great resource for finding discounted deals on a variety of activities in London. From escape rooms to fine dining, there’s something for everyone.
4. Shopping
A little retail therapy can be just what you need. No matter your style or budget, London has plenty to offer.
Covent Garden: Perfect for those looking for unique boutiques and designer brands.
Oxford Street: Home to high street favourites like Zara, Primark, and H&M, as well as department stores like Selfridges.
Camden Market: Ideal for vintage finds and unique pieces, along with a lively market atmosphere.
Top tip: It’s smart to wait for sales or holiday discounts for the best deals. Major sales often happen between seasons as stores clear out old stock for new collections. Keep an eye out for these opportunities to save!
1. Utilities
Utility bills, including gas, water, electricity, heating, and internet, vary depending on your location, whether you live alone or share accommodations, and your average usage. If you reside in student accommodation halls, these costs are typically included in your rent. However, if you rent privately, you’ll need to budget for these expenses separately.
2. Insurance
It’s advisable to insure your valuable possessions upon arriving at university. The cost of insurance will depend on the quantity and value of your items, providing peace of mind in case of loss or damage.
3. Toiletries
While it may seem minor, essentials like toothpaste and toilet paper can add up. There’s no need to restrict yourself, but being mindful can save money. Superdrug offers regular student discounts, making it easier to find deals on your favourite brands.
4. TV
If you intend to watch or record live TV programmes or access BBC content on iPlayer, you’ll need a TV licence. Fines for not having a licence can reach up to £1000. Check the Government website for the latest licence fees and to determine whether you need one.
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