Are You a Student Who is Moving to London? Top Living and Money Tips for You

Being a student who’s living away from home anywhere is heavy on the pockets and the mind. However it can be less daunting if you choose to live smart and make wise choices. Living and money handling can become tricky when you’re trying to save money and enjoy care free as a student. As fascinating it is to move to London as a student, it can be tricky to save and enjoy your stay simultaneously. This article will give you helpful tips on how to live and save money as a student in London. For help in academic ventures you can visit sites such as Peachy Essay. 

Top Living and Money Tips

London is indeed one of the greatest cities in the world but being a student, living and money arrangements can become somewhat intimidating. But that doesn’t mean that you have to break the bank to enjoy. Here are some of the best money-saving tips that will help with your stay in the city as a student. 

Find a job 

As a student living in London, you are allowed to work 20 hours a week. You can make the most of these hours by applying for job in warehouses, restaurants, delivery, senior care etc through websites like indeed.com or directly on the company’s website. The minimum starting wage ranges from 8.91£/ hour to 11£/hour depending on the job you get. The job money can help take care of basic necessities and if you work wisely, you can save up. 

Travel Smart 

Getting around London can become quite alarming when you’re on a budget but you can be travel savvy by getting yourself travel cards such as Oyester card or arch card to avail discounts and travel deals on all buses, tubes and trains. London is a very bicycle friendly city which is why you can even invest in a bicycle and travel some of the distance on your own to save unnecessary travel money. You’ll find cycling around the city much easier than the hassle of taking tubes or trains. 

Choose Accommodation wisely 

Look for shared apartments or student accommodations in your area where 2-3 people share the living place and split the rent. It will be much cheaper and you could save a lot of money. A box room to live alone in London can cost you as much as 500£ but a shared accommodation with 2-3 people can provide you a larger and better space for as much as 400£. You can also find student homes and halls that cater to every necessity and offer many types of deals according to your budget under one roof. 

Plan your meals 

Eating out everyday with friend’s sounds like fun but doing so can affect your earnings and savings negatively. The meal you plan to eat out in a restaurant can cause you thrice as much as if you buy the same meal frozen and bake it in your kitchen. For example a pizza at a restaurant will cost you a good 14£ where you can buy a good frozen pizza for 5£ and bake it yourself. Furthermore, to find good quality frozen food items, stores such as Iceland offer a wide range of frozen foods at much cheaper rates. 

The grocery you do to cook yourself should only last you a few days. You can always buy fresh produce again then to risk spoiling food and wasting money. 

Avail student discounts 

Many restaurants, retailers, bars and pubs offer discounts for students that you keep at eye out for. Scout for the deals that suit you and save money. All you need to do is show your student ID card to claim these deals. You can even look out for free product giveaways in supermarkets, your local church or during product launches to catch some free goodies. 

Savings go a long way 

Are your friends planning a vacation and you’re a little short on money? Well a tip for the next time you want to do something fun and find yourself with a limited budget is to start saving up. When you put a set amount of money every month aside for savings, when time comes you can splurge according to your needs. 

Work hard during the holidays 

Maximising work during holidays can be a perfect time to earn extra money. Summer break or festive holidays are times where extra staff is always needed and job opportunities are high due to majority of people going back to their homes. Utilise this time wisely to save up some extra money for your holiday cheer. 

Work out a budget 

Before the start of each term, list down all your expenses and earnings (student loans, rent, money coming from parents etc) and divide your monthly earnings according to that budget. You can manage your money in three sections. A reserve amount for emergencies that you won’t touch until your next salary, money for travelling and grocery and the money for rent. If after all the necessities you have money left over you can go out with friends or do something you enjoy. 

Wear your clothes more than once 

Its fun to shop new clothes every while and then but when you’re a student and you’re on a budget, spending that kind of money can leave you with nothing at the end of the month. With so many parties and entertainment nights during university life it can be tempting to buy new clothes every time. But wearing that same dress or pants won’t matter to anyone else and you’ll be doing yourself a favour. Plus it’s great for the environment and you can set an example for your friends and family to be environmentally responsible. 

If you have to buy, try your luck in thrift shopping or ask your siblings for some hand me downs. You can also re-use the outfit you wore last year. 

Washing your clothes every day can also be a burden which is why it is better to wear that favourite sweater of yours a few times before you wash it. 

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