How expensive is London really?

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Anonymous #1
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Just curious about this, I’m from the north but really keen on studying in `London for university. I’ve done some playing around tide to loan calculator on gov.uk. As well as looking at accommodation prices on various London uni websites.

I’ve been to London a fair few times and lived there for a few months last year. And I never found everyday life (bar transport) to be significantly more expensive. But that was in a pandemic and I wasn’t going out much.

It seems as though accommodation prices are made up by the increased loan. I would get about 10,000 for London, but 7000 for rest of UK. And cheapest accommodations in London unis seem to be about 7000, cheapest in rest of UK are about 4000. So that’s rent taken care of by the London weighting.

Obviously transport is much more expensive, I won’t dispute this at all. I guess the answer is to avoid travelling where you can, and walk/cycle.

Going out is similarly much more expensive, but I don’t think I’ll want to be going out much more than once a week anyway, and I’m not the type to spend 200 on a night out either. So I’m not sure how much that would be an issue.

Shopping wise,I’ve always shopped at Aldi/Lidl, don’t see myself stopping.

So am I missing some massive cost here, or have I got something wrong. There seems to be so much scaremongering about how expensive London is, and it definitely is, but as a student it seems very manageable unless you’re expecting to live a life of luxury. That said i am still unsure, it is more debt, and inevitably less disposable income, as extra money will get spent here and there.

So yeah, how expensive is London really for a student, or is a lot of it just scaremongering/london bashing?
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Mesopotamian.
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If you know how to manage your finances, be sensible with your priorities and not depend on takeaways and shop-bought meals to live on, you’ll be fine.
Last edited by Mesopotamian.; 1 month ago
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PStevens
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(Original post by Anonymous)
Just curious about this, I’m from the north but really keen on studying in `London for university. I’ve done some playing around tide to loan calculator on gov.uk. As well as looking at accommodation prices on various London uni websites.

I’ve been to London a fair few times and lived there for a few months last year. And I never found everyday life (bar transport) to be significantly more expensive. But that was in a pandemic and I wasn’t going out much.

It seems as though accommodation prices are made up by the increased loan. I would get about 10,000 for London, but 7000 for rest of UK. And cheapest accommodations in London unis seem to be about 7000, cheapest in rest of UK are about 4000. So that’s rent taken care of by the London weighting.

Obviously transport is much more expensive, I won’t dispute this at all. I guess the answer is to avoid travelling where you can, and walk/cycle.

Going out is similarly much more expensive, but I don’t think I’ll want to be going out much more than once a week anyway, and I’m not the type to spend 200 on a night out either. So I’m not sure how much that would be an issue.

Shopping wise,I’ve always shopped at Aldi/Lidl, don’t see myself stopping.

So am I missing some massive cost here, or have I got something wrong. There seems to be so much scaremongering about how expensive London is, and it definitely is, but as a student it seems very manageable unless you’re expecting to live a life of luxury. That said i am still unsure, it is more debt, and inevitably less disposable income, as extra money will get spent here and there.

So yeah, how expensive is London really for a student, or is a lot of it just scaremongering/london bashing?
If you’re not someone who goes out on a regular basis drinking, eating out/takeaways this will reduce the amount of spending drastically. If you like the gym or sports etc then you can access uni facilities/sports teams for reduced cost of normal gym.

If you prep your own meals to take to uni, then you will save money versus eating from cafes plus never be disappointed with the food portion.

A tip, if you’re a coffee lover then buy a flask and purchase coffee from Algerian coffee stores near Soho. Will save you an absolute fortune plus they do amazing coffee. You just need a stove top to brew it.

Pretty sure as a student you’ll get a discount (30% I’m guessing) on Oyster cards do travel will be cheaper. In the warmer/dryer months, London is great to walk around. You won’t need to pay too much for travel as you can walk to most destinations.

Rent is definitely way overpriced and is the one thing that annoys me about London.
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londonmyst
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It depends on your local region of London, income, lifestyle and general standard of living.
Accomodation costs, food, nightlife and utility bills tend to be much higher than in many other parts of the UK.
For a single student paying a private landlord who has limited income & savings, no financial support from relatives and no sponsorship- very tight budgeting will be necessary to avoid going into the red.

I'm a lifelong Londoner and have been a London uni student for the last 8 years.
London rent was my single largest expense as an undergrad and postgrad student.
For several years I lived on a budget of below £29 a week after paying rent & bills, worked several part time jobs plus weekends and still amassed over £50k in credit card debt.
The credit card debt does not include my undergrad tuition fees or masters loan for my first postgrad which were both covered by SFE.
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RedGiant
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Too expensive.
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NonIndigenous
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To properly settle down in London with your own place, is expensive. Even more so if you don't want to commute over an hour to your job if it is somewhere central.
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Anonymous #2
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Its mainly rent, rent is disgustingly high. If you can find a place to live rent free or you make more than enough to cover living expenses then London is as affordable as any other city.
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cchloepx
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I mean clearly you know how expensive it is? You’ve outlined where London becomes more expensive. The cheapest rent is £3000 more than the rest of the country.

It’s not ‘London bashing’ to say that it is more expensive to live in the capital city than in, say, some random little town in the countryside.
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