Before starting my studies at LSE, I was concerned about the high cost of living in London. It is well-known as one of the most expensive cities in the world, so I was worried that living here as a student would be out of my reach. However, since studying here, I’ve found that it’s possible to live on a student budget and still have fun in the city. So, for those who are planning to study in London, here are some helpful tips to save money.

1. Plan ahead and set a budget: Planning ahead is crucial for budgeting in London. Before moving, it’s essential to make a weekly or monthly plan estimate for your expenses. This should include everything from rent, food, transportation, entertainment to toilet paper expenses. Once you get an idea of how much you actually spend on each category, you can build a more accurate budget. From there, continue tracking to see how well you stick to it every month. Sticking to a budget is not easy, but it does get easier with time, so stick with it!
2. Take advantage of free activities: Now that we’ve gotten the money tips out of the way, let’s move on to the fun stuff! There are a bunch of things that you can do for free in London, to enjoy the city without blowing your budget. You might find that your entertainment budget can be cut significantly once you start focusing your attention on all the free activities the city has to offer. Some of my favourites include museum hopping, hanging out at parks throughout the city, and taking some of the many free walking tours offered by various tour groups. Everyone’s preferences will be different, so I’d recommend signing up for newsletters like Secret London and the Londonist to get weekly updates about fun, free things to do in the city.
3. Look out for student discounts: Many businesses offer student discounts. These savings can add up, so don’t be afraid to ask whether a business offers a student discount. From discounted gym memberships to reduced meals at restaurants, take advantage of that student price. Pro tip: Check out websites like Student Beans and UNiDAYS for exclusive student deals that you can use at different retail stores or restaurants.

While it’s true that London is an expensive city, this shouldn’t stop you from moving here for your studies. With a bit of planning and creativity, you can easily have fun in London on a budget. Don’t let the price of London scare you away from studying here – it’s worth it!