10 Money Saving Tips in London for International Students 

London is a dream city for many students and professionals. Hundreds and thousands of students choose the city for their educational needs. Home to some excellent universities offering unique courses, it is the ideal place for students.  

The living costs in London are very high. Because of this, students are forced to cut down on many of their expenses. However, with the right money-saving tips, every student can live on a budget in London, UK. 

Money Saving Tips in London 

Living in such an expensive city is difficult for students on a tight budget. But does this mean you give up on your dreams? Certainly Not. In this article, you will find some of the best money-saving tips. Follow these money-saving tips to live in London within your budget. 

• Student Accommodation in London: International students looking for accommodation can land affordable ones too. This is done by choosing the right accommodation type in the city. For example, rent shared housing options, instead of private apartments. This way, you can save money on your rent in London. Shared accommodation gives you the chance to split your bills with your roommates. For example, electricity, food, and more. Moreover, opt for accommodation that provides amenities & utilities. Amenities like gym and laundry cut down many expenses, making it affordable for students. 

• Transportation: London is incredible when it comes to transport options. Students can choose from a variety of cheap travel options. The public transport options in the city offer student discounts as well. Students can buy a Student Oyster Card, which cuts down their expenses to just £30-£60/month. The beautiful red public buses in London have great connectivity. Students don’t need to travel by expensive Taxis, because the buses and trains will take you everywhere. Moreover, the intervals of the buses are excellent, thereby making it an ideal choice. Students aged between 16-25 can also opt for a railcard. It will cost just £30/year. 

• Grocery & Food: International students often make the mistake of spending a lot on food. This does not mean you should stop eating. But just make wiser decisions in terms of groceries and food. Eating out in restaurants very often can lead to very heavy bills. Therefore, students should prefer cooking their own meals in their accommodation. By doing this, students can save a lot of bucks. Choosing to eat out every now and then can also be harmful to students’ health. Therefore, make wiser and healthier food choices. Another tip is to buy groceries from supermarkets that provide great discounts for students. 

• Entertainment: Every student deserves to enjoy their student life. And living in a city as exciting as London, there is no way you can live without partying. Don’t let tight budgets ruin your fun anymore. There are several student budget-friendly entertainment options for students. First, always participate and attend university events on campus. They are a great source of entertainment for students. Moreover, they give students a chance to get to know each other, interact and enjoy. Other than that, students can explore theatres, concerts and cinemas that offer student discounts in the city. Lastly, when you are in London, explore the museums, galleries and other events happening in the city that are free of cost. 

• Shopping: A major pro tip for students living on a budget in London is to avoid Oxford Street. As tempting and trending as it seems, stay away from those expenses. Instead, students can explore various other shopping areas where they can enjoy great discounts. Explore Aldi, which is a supermarket chain available in London. It offers student discounts on certain items, making it very affordable for students studying there. Another place where students can get groceries at discounted prices is Lidl. Lastly, never miss the opportunity to shop during sales. Shopping during sales can get you great discounts at minimum prices. 

• Utilities: Staying in shared accommodation has several benefits. One of them is getting the chance to split bills. When students live together, they can easily split their utility bills equally. For example, electricity, heating, groceries, and more. Moreover, they can save energy in various ways. For example, studying in the same room with AC, Lights and more on. 

• Travelling: Saving money on transport is already discussed above. But that is for using transport within London. International students going back home during holidays should be mindful while booking tickets. Since most students fly back during holidays, the fares rise very high. Therefore, make sure you book your tickets way in advance. Moreover, use student discounts when booking tickets, and remember to carry your student ID along.  

• Academic Expenses: Most people nowadays prefer online reading material and books in PDF versions. However, sometimes the need for textbooks arises. One of the best ways to save money on academics is by renting or buying second-hand textbooks. You can get them at almost half price or even less. Moreover, look for scholarships, both government and university ones. They can help you cut your expenses to a minimum, and also help with your budget. 

• Budgeting: Before moving to London for your education, there is something that you should do. Make sure you do your research well about the city and expenses. It is one of the most expensive cities in the United Kingdom. Many students often forget to plan their budget before moving there. This can lead to severe pressure and problems in the future. Therefore, make sure you plan your budget before moving. Calculating just the major expenses, such as tuition fees, accommodation and food is not enough. Students should also plan their budget for other small expenses. Such as transportation, mobile plans, entertainment, and other miscellaneous expenses. 

• Analyzing: A very helpful tip to save money in London is to analyze your expenses. This is done in various ways. For example, you spend money on your preferred things for a week and note them down. Students can also do this for a month, if possible. After that duration, calculate the total expenses spent on various things. For example, how much did you spend on a restaurant in a month? How much did you spend on shopping? How much did you spend on transportation? Once keep this information in front of you. Now, you can analyze your spending better. Check where you are spending the most money. Moreover, look for ways to minimize those expenses. For example, start travelling by public transport instead of Taxis. Or start cooking your own meals instead of going out for meals.