On The Money

How to Save Money When You’re Studying in London

A PiggyBank and CoinsA multitude of outstanding colleges and universities can be found in London. Both local and international students move to this great city to take advantage of the fantastic learning opportunities it offers. Living in London, however, can get expensive especially for a student. Deducting the university’s tuition fees, studying in London for a whole school year can amount to approximately £11,385.

If you’re planning to study in London or looking for tips to cut down expenses, here are money-saving tips you might want to try:

Go for cost-efficient accommodation

Looking for a flat is one of the first things one should consider when moving to another city or country to study. There are many housing options around London and rates can vary from £350 to around £900 a month for a room. To cut down on housing expenses, you might want to try sharing a flat; there are many shared flats available for rent around London. Sharing is a good option for students; you cut down housing costs while meeting new friends.

Purchase a Visitor Oyster Card

As a student, you’re more likely to use public transportation than to drive your own car. Research shows that four days is saved each year when you ditch your car in favour of the train or public transportation. If you’re going to use public transport, you might want to purchase an Oyster Card, a travel card that will save you money by allowing you to use several modes of public transports such as the tube, buses and trains.

Dine in and prepare your own meals

Purchasing your meals at restaurants costs more than cooking them yourself. Unless you have the money to eat out often, cooking and dining in is one of the best options to save money. You don’t need excellent cooking skills for there are a lot of recipes that you can try online. There are various local markets and supermarkets where you can get fresh ingredients; some even offer great deals especially in discount aisles.

The cost of living in a big city like London can be expensive especially when you’re a student. With proper budgeting and being wise and responsible for your expenses, you can cut down on costs and save a lot of money.

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