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How To Save Money Living In London

By StudentJob partner on 16-05-2018

College is, of course, an exciting time, especially if you get the chance to study in an essential and boisterous city such as London. However, the allure of all these opportunities can be distracted from with the stress of trying to finance your adventures. Living in London, though, doesn’t have to be stressful and in this article, we are going to look at some of the best ways you can save money living in London without sacrifice.

Get A Student Oyster Card

Just like living in any other major city in the world, one of the first considerations you have to make when you are living in London is how you are going to get around. Of course, one option is to take taxis everywhere, but that isn’t exactly cost efficient. On the other end of the spectrum, there is the idea of making the city on foot, but London is far too large for that to be feasible.

What you might want to consider, though, is to get a Student Oyster Card. When you have an Oyster Card, you will have access to the following modes of transportation as you move about the city:

Buses/Trams in London

The Tube, London Overground, and DLR

Riverboats

All National Rail Suburban Trains Stopping in Zones 1-9

By getting an Oyster Card, you can save money on your daily commute. Further, if your university is included in the ones that allow for a Student Oyster Card deal, you will save some money in comparison to getting a standard Adult Oyster Card.


Eat In Often

When you are in London, it is tempting to try out some of the many local restaurants. Of course, you should give these locales a try! After all, a big part of getting the chance to study abroad is the opportunity to live with locals and experience their culture - including the food.

However, you have to balance this. If you go overboard and try a new style of takeout every night, you are going to see your funds decrease at an astounding rate. What you can do to save money in this regard is to try and eat in as often as you can. You will find that shopping for ingredients to keep around is much more inexpensive than buying a full, pre-paid meal every night.

This doesn’t mean that you should never eat out. Preferably, it is more of a suggestion that you try to exercise moderation in the amount of your budget that you dedicate to expenses such as a dinner out. 

Don’t Fill Your Time With Extra Expenses

Beyond just going out to eat with friends, a busy city like London can be a hotspot for a variety of fun experiences. Whether you want to experience the nightlife that London has to offer or see your favourite band while they're in town, these experiences, unfortunately, come at a cost. Once again, though, this doesn’t mean that you shouldn’t enjoy these experiences, you should be sure to enjoy them in moderation.

Sometimes, though, it can be challenging to balance nightlife fun with academics. In these times, it can be a good idea to make the investment and buy an essay from seasoned writers so you can enjoy the night without worry.

Credit Cards vs. Cash

If you are an international student studying in London, you might want to be careful of using your credit card from your home country too much. If you are from the United States, for example, most credit cards use a 3% foreign transaction fee. To avoid this, you should be aware of the foreign transaction fee and perhaps limit your credit card use. 

Pay Attention To University Events

University events can be a great way to further your education, find opportunities, and make connections. However, many of these events also offer incentives to try and get more students to attend. As such, you can usually get a free meal alongside the other benefits that these events provide. 

Keep An Eye On Deals

When you are living in London, a great way to save money is to keep an eye on deals. Using coupons and taking advantage of sales, you can shave dollars off of your nights out and your weekly grocery bill alike. With the prevalence of the internet, it will be easy to find deals in the London area.

In addition to just looking for sales events and coupons, you should also consider committing to email subscriptions for some of your favourite places. For many stores that offer this option, the emails that you receive notify you of upcoming sales and some even offer exclusive deals. This, paired with things like loyalty cards, are an easy way to gain savings on the items you buy often. 

Take Advantage of Student Discounts

We mentioned earlier that you could get a discount on an Oyster Card if you are a student. However, this is far from the only student discount that London has to offer you. Many restaurants and other locales will offer special deals to students that other customers don’t have access. As you will only have these discounts during your college career, you might as well take advantage of them. 

Conclusion

In the end, saving money while you are living in London isn’t about depriving yourself of the London experience. Instead, you need to balance your expenses carefully and take advantage of opportunities that allow you to cut costs. With the tips that we have looked at here in mind, you will easily be able to enjoy your college experience in London without much strife.

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