Paloma Rao, LLB
Once you’ve settled into your pricey flat and struggle to pay for light and heat, you’ll soon realise how important it is to try and budget effectively and save money wherever you can. The more you’ll save, the more you can go out and enjoy London!
Take control of travelling costs
Travelling in London blows any dream of budgeting wide open. The most effective advice would be to stay in when you can, and if weather provides, walk or cycle to your destination. However, sometimes this just isn’t practical. Take advantage of discounts using a 16-25 Railcard which saves one third of all train costs in the UK, or a Student Oyster Card. If you are a frequent bus/tube user, look into monthly or even annual travel cards which can save a lot of money in the long-run.
Buy food that is reduced
Go to your supermarket in the last hour or so of their opening times. This is not just limited to supermarkets – some chains such as Itsu, for all the sushi lovers out there, have a half price sale half an hour before their closing times. These times vary from chain to chain so check your closest branch! Try going to the Itsu in the Brunswick Centre at 8.30pm.
Explore the underrated!
Don’t be fooled by pretty packaging and fancy branding – sometimes, supermarkets’ own-brand products can be just as good – next time, for example, try a cheaper Ketchup instead of Heinz. Often the difference between a basics range and their own brand is simply packaging, so if it’s pasta you’re after, go for the cheapest option. Source your fruit and vegetables from markets; this is a fresh, less processed, and drastically cheaper alternative. Tea and coffee, as drained as you feel, will really drain the money out of your wallet. Skip Starbucks or Pret on your way to uni – that £2 a day will really add up – invest instead in a thermos or bring your own mug to SOAS and save 20p!
Learn to cook!
Doing so saves a ton of money, you could even split the costs of ingredients and share a meal with flatmates, or make extra food to save for the next day. This can save you both time and money – not to mention washing up! Some ideas of quick and easy meals include jacket potatoes, refried bean quesadillas, stir fries, and creative omelettes.
Student discounts
London does offer large discounts for students , you would be mad not to take advantage of these! Consider investing in an NUS card for £12 a year, giving you discounts in hundreds of places such as New Look, Odeon cinemas, Pizza express, and many more. Tastecards give you up to 50% off meals in thousands of places in London. Ask if you get student discounts every time you buy something; sometimes this isn’t clearly advertised and saves you a great deal with minimum hassle. Use websites such as Groupon, Gumtree, and Freecycle to find great deals!
Plan your social events around student deals
Many London museums allow students in for free or for just several pounds, such as: the Natural History Museum, National Gallery, and Science Museum. Take advantage of student club nights which usually offer cheaper entry and drinks. Examples include Tuesdays at Zoo Bar (£5 entry) or £1 entry at The Roxy if you sign up to their mailing list.