How expensive is it to study in London?Watch
Is it doable to live and study in London without having money from your parents to support you? My main worry is that, after 1st year, I'll have to find accommodation in London and I won't be able to afford anything decent.
Being the financial capital of the world and headquarters of many major businesses, London is expensive.
LSE broadly estimates that students should allow £1,100-£1,300 per month for all living expenses, including accommodation, travel, food, laundry, study costs, and other personal expenses. This will vary depending on your lifestyle and requirements, so it's important you do your own research.
A few tips which I would recommend to save money are
Booking ahead of Time
As rents are higher in London compared to other cities in the UK, I would recommend booking ahead of time. UniAcco has a wide range of accommodations according to the student's requirements.
Use Public Transport
Also known for its great transport links, getting around London is not that difficult. You can save time and money by using public transport. You can read in detail about the London Public Transport facilities.
Utilize your student card or youth travel card
Being a student, you are qualified for many discount offers. This includes discounted entry to museums, cinemas, and clubs. There are also special deals and discounts associated with Oyster cards.
Open a local Bank Account
If you are an international student you need easy access to funds. To avoid extravagant charges on your transactions, whether it be on cash withdrawals or card payments I would highly recommend opening an account with a local bank. In the UK withdrawing money from most of the bank’s ATM is free.
Being a student and a millennial, the internet is a necessity for us.
Be it for scrolling through Instagram or researching your latest assignments, the internet is an essential requirement to all.
Most of the student accommodations have WIFI included in their rent, so no need to worry about monthly payments.
If you have your own laptop, many coffee shops and pubs also have free wifi.
Food and Drinks
The cost of food varies depending on your choice of either cooking on your own or eating out. Eating out in London isn’t cheap. It is it will be more economical and wiser to buy groceries and prepare your own meals. Planning your meals is the easiest way to save money and still eat well.
In addition to the above tips, you can get a part-time job, buying your books second-hand from previous students or borrowing it from libraries.