When I first moved to London, I was told many horror stories about having single digits left in my bank account at the end of the month! To avoid this, I planned and researched the best ways I could manage my expenses as a student in one of the most expensive cities in the world. Here are some of my top tips for how to live in London on a student budget and cut down on expenses!

1. Account for fixed costs – For me, this meant keeping some money aside for things that I could not cut down on. As an international student without student loans, I had to account for my tuition fees (which I pay in three instalments over the year). Aside from this, every month, I had other fixed expenses such as rent and utilities, phone bills, and monthly subscriptions such as Netflix. To manage these costs, I set aside a part of my monthly allowance in a separate student bank account.
2. Look at private renting options – moving to London as a first-timer might be daunting, and student halls make the transition easy as they include utilities in the rent, and sometimes even provide catering facilities. However, many student halls can be expensive, so students can consider renting privately. I currently live in a flatshare with two other friends, and our rent is considerably cheaper as the house is not located in central London, where prices are steeper. However, make sure to research the location of these privately rented houses, looking for things such as proximity to tube and bus stations, and alternative transport options.
3. Look up discounted travel options – A Student Oyster photocard qualifies you for reduced travel rates if you are over 18, a student, and a resident of a London borough. You can also get adult-rate Travelcards, Bus, and Tram passes for 30% less. Furthermore, you have the option to link your Oyster card to a Railcard, which offers 30% off travel on National Rail Services (which you can use to travel outside of London). By doing this, you can receive 34% savings on single off-peak rates for the DLR and London Tube. However, be aware that this discount does not apply to trips taken between the hours of 6.30am and 9.29am and 4.30pm and 6.59pm when a peak fare is automatically applied. Peak fares are significantly higher, so be sure to plan your travel in advance to avoid these times.
4. Consider alternative transport – one of my friends owns a cycle and finds it relatively cheaper to travel to campus. Not only is it a great source of exercise, but also is a good change of scenery from the crowded spaces of a bus or the tube. In collaboration with Transport for London, Santander Cycles are a good option to consider as a monthly subscription costs only £20, with the possibility of getting a student discount! Such deals are a godsend on days when there is a tube strike and the queues for the buses span several blocks!
5. Always ask for student discounts – After a quick verification, websites like Student Beans and TOTUM provide students with a myriad of student deals on online and in-person stores. If you haven’t got one of these student cards, simply ask at the till of any store you’re visiting for student discounts. I was happy to know just how many places offer deals and discounts to students, and it never hurts to ask, even if it isn’t offered!
6. Download discount apps – I really enjoy using the Too Good to Go app, which offers food for free or at a very small cost that would normally be thrown out. With this, I have gotten large bags of bread, cakes and sandwiches on my way home after a study session at the library! Other similar apps are Honey (for vouchers), Olio (for food deals), etc.

With these tips in mind, you can cut down on expenses and even save some money during your time in London. So don’t be put off by the horror stories of London living – with a bit of smart planning and spending, you won’t end up burning your wallet every month!

Prices were accurate at time of publication.