Introduction
Life as a student in London is tough, especially as it is the SECOND most expensive city in the world. Here are the key things that you need to take into account that rule and govern your independent life…
Rent
- Student halls might charge an all-in fee that includes rent, electricity, cleaning, and food. Increasingly they are becoming self-catering flats where you do your own cooking and everything is metered.
- If you don't have a washing machine, factor in some extra money for launderette prices.
- If you're bringing a telly don't forget about a licence! (they will catch up with you sooner or later).
- You may be renting from a private landlord. Remember you will have to pay your rent on time each month. This may be done by Direct Debit.
Bills
- If you're in a student house, you may have meters for electricity and gas, or quarterly bills.
- If you are in a private-let you may get bills through the door each month or each quarter (3 months) so remember to budget and plan for upcoming bills.
- Organise a system so that everyone pays their fair share.
Food and other groceries
- This should cover everything from cooking at home, to eating out, snacks, coffees, and toiletries and cleaning products.
Books and equipment
- You don't have to buy everything on the reading list, or get the brand new books, but you will need to get a few useful books and whatever else is on your equipment list.
- Some stuff can be bought cheaper second-hand.
- Wait until the course has started before buying. That way you can work out what you really need.
- Use the library as much as possible to keep costs down.
Stationery and photocopying
- This will include computer disks, paper, folders, photocopies of research papers and chapters in books you don't want to buy.
- Your university department may offer free or subsidised photocopying and equipment, so find out.
Going out
- Factor in enough for a social life, and stuff for sports, clubs and other interests.
Commuting costs
- This covers bus fares, petrol, train tickets, late-night taxis and more.
- Get hold of discount cards and season passes as early as possible.
- Book fares in advance to get the best deals.
- Young Persons Railcard is a cheaper way of getting around the island.
Clothes
- Many stores offer a 10% discount when you can prove you're a student. Remember the golden rule: if you don't ask, you don't get.
- Not all shops advertise their discounts, but once you flash your student ID their generous sides might get the better of them.
Phone and internet
- Keeping in touch can be costly, whether it's paying off your ISP or topping up the credit on your mobile. Shop around for the best deals.
Insurance
- This is well worth having, especially if it's a student deal. Think about how much it would cost to replace everything you own.
Interest and fines
- Try to avoid overdraft charges and late fines at the library or video rental shops. Still, it does happen so remember to budget a bit of money in for mistakes!
Find out a bit more detail of money money money at the King’s