In a foreign city with so much going on it can at times get overwhelming to keep a track of your finances. This is why we have gathered some tips that can help you save money as an international student in London.
Make a Budget and a Stick to It
Making a budget is an excellent way of keeping a track of your expenses. With a budget you can have a better idea about the things you can and cannot afford. It does take some level of discipline but it is well worth it in the end. Making a budget can also rove to be helpful in establishing patterns of your expenditure and you can also figure out ways through which you can save more money.
You can save a lot of many by having your own accommodation or by sharing your accommodation with a friend. It is wise to weight both of your options before you select your accommodation for the year.
Make Food at Home
Food will be one of your major expenses. There are a number of ways through which you can reduce the amount of money being spent on food out of those one is to forego eating out, snacking or too many takeaways. Cooking your own meals is one of the best options if you have to live economically in London. Purchase your groceries weekly and cook for yourself. You can also treat yourself once in awhile especially when you are living in such a multicultural and diverse city.
Secure a Job
You can secure yourself a part-time job at your university or other restaurants. You may even get lucky at time and end up earning more than the budget you set out for yourself. You can then use that extra money for travelling or just save it even.
Be Clever About Using Public Transport
Try to avoid travelling in Uber or local taxis during their peak hours. You can also pool transportation with a friend, if it is necessary. This can also help you in saving money. If you want to have a more immersive London experience, you can try taking a bus or walk. Not only will you have some extra cash left in your pocket but you will also get a completely new perspective of the city.
Be On the Lookout for Student Discounts
Being a student you can benefit from the student discounts. Almost every place in London offers student discounts. You can also score some discount vouchers through your academic year such as vouchers for subway. There is also a booklet of vouchers available for students having different meal deals in it at affordable prices. Looking online for vouchers is also a good idea and you will be surprised by the deals that you will find online. You can make your money go further by taking advantage of vouchers and student discounts.
Benefit from the Free Events
Stay updated about the free events going on in London where you can go check out performances, museums, hangout in a park or get a haircut. You can checkout websites like Timeout London where they have whole section sharing information about the free events in London.
Avoid Paying Covers
A cover is a fee that is paid to gain entrance inside a club. Certain clubs have covers so that people can’t afford to purchase drinks inside. However, you can enter in a club without paying a cover sometimes. If you do your research properly you will find that certain clubs do not charge a cover until a certain time in the night. You may find it silly reaching the club early but at least you will feel twenty pounds heavier than the rest. You can check the club’s website for ongoing promotional offers. Remember to keep your safety first at all times and do not trust any stranger.
Purchase Secondhand Books
University textbooks are very expensive to purchase and at times the teachers will just assign them to you randomly. That is why purchasing secondhand books either online or from a bookstore is a cheaper option. Additionally, like purchasing used books you can also sell your books when you no longer need them.
Keep a Record of Your Expenses
Try to keep a list of your various expenses. It will be helpful for you to alter your budget better.
It is an exciting thing to be staying in London but it can be very easy to let your money get away from you. It is important that you stay smart and remember these few tips to make the most out of experience.