London is not a cheap place to live. Whether that came as a surprise to you when you began your life as a student there or not, it can be all too easy to find yourself in a tight spot as far as cash is concerned. These tips are designed to help you save money on the essentials while you study in one of the most expensive cities in the world, so you can avoid that dark cloud of debt!
Walk. It’s good for you, you’ll see more of the city and it’ll mean more money for other things that are a lot more fun than traveling.
If you need to take the train, be sure to book in advance. You’ll probably already have a Young Person’s (16-25) railcard, but even buying your tickets a few days in advance could save you a decent amount.
If you’re taking the Tube, buying an Oyster card will work out cheaper than paying in cash.
You could go out to a different restaurant in London every night for a very long time, and still not get though all the gourmet offerings the city provides. However, if you want to avoid debt, you need to avoid going out to eat too regularly. Instead, why not split the cost of ingredients with your housemates or friends, then whip up something special. It’ll really whittle down the costs of feeding yourself, and it’ll encourage you to eat more healthily and try new recipes, as well as providing you with a fun activity to do with your new friends.
Meat can be very expensive, so consider going veggie while you’re at uni. With all the fantastic recipes out there, you might not even miss it!
Money saving expert Martin Lewis advises students to go out at the end of the month, because you’ll know you’ve covered all your financial necessities.
Rather than going for a night out in the city, why not get some friends over for a few drinks? Buying a decent bottle of wine from a supermarket will only set you back as much as one glass would in a pub!
It’s likely that you’ll need to buy at least a few books for your university course, so rather than hitting the high street bookshops, go online to sites like Amazon to get them second hand. Charity bookshops are also a great place to look.
Universities like Middlesex University in London offer debt and money management advice, so you can talk to someone who can help you with advice that’s specifically tailored to your needs.