For many exchange students coming to London for the first time, the golden question is: how am I going to survive in the city on a student budget? London’s status as a high cost of living city, especially for students, has may people lamenting about having to penny-pinch during their year abroad. While it is true that staying and enjoying life in London can be expensive, there are many ways in which you can stretch your pound so that your year abroad can be both affordable and fun!

Here’s a list of budgeting tips you can use during your year in London:

Shop wisely

There are a variety of grocery stores that line the streets of London — from Tesco to Sainsbury’s, there are just so many options to choose from. However, if you are on a tighter student budget, why not check out your local markets for equally fresh produce? Most neighbourhoods have open markets that sell fruits, vegetables and even meat for lower prices. I often head to the open-air market along Whitechapel, where I get things like a bag onions or potatoes for less than a pound! In the long run, the small savings you make from shopping at these markets add up, and you’ll find yourself saving a lot more than expected! At the same time, your local Poundland store is also likely to carry cheap household necessities for anything between 1-3 pounds, which is usually cheaper than what you can find at a regular grocery store.

Wallet-friendly entertainment options

Entertainment can be expensive in London — but there are still a variety of options that are either free or can be done at low cost! Many of London’s museums and art galleries offer free entry for students, and a trip to one of them can take up almost half a day! If you are more of a nature person, why not consider organising a picnic with some of your friends in the different parks across London? Alternatively, consider market hopping with a group of friends to explore the hidden gems of London — from Camden to Portobello market, you do not necessarily have to shop and spend excessively at these places, but splitting the bill on a delicious selection of food doesn’t sound like a bad option either. If you are into films, the Princes Charles Cinema in London’s Chinatown offers a variety of movies at cheap ticket prices too. Down that long laundry list, my point is that you can definitely have fun in London without breaking the bank!

Keeping an eye on student discounts

One of my favourite discoveries after coming to London was realising the power of Unidays. There are many available discounts for students on the app, and they usually help you save on your food and shopping expenses. Personally, the 9.95 pounds offer at Franco Manca for a pizza and a drink has become my go-to option when I need a break from home-prepped lunch. The wide variety of areas in which you can find student discounts in the app makes Unidays a student’s best friend in London.

Landing a campus job

Beyond planning your expenses well, getting a campus job helps you to make extra income on the side to fund your fun in London. LSE offers a range of campus jobs, including being a student content creator (like yours truly!), bartending at the campus pub, or even some research assistant openings based on availability! However, do check your visa permissions on whether you are able to work while studying in London, and if so, what are the limits on your working hours. 

All in all, living in London is not an easy endeavour, but making your pound go the furthest mile isn’t all that difficult either! Effective financial planning and budgeting during your time here is a life skill, and it also makes it easier for you to have fun in a sustainable way. Enjoy your time in London!