Student Takeover 3 min read

Top tips on saving money as a new student

Chloe Jarman

Chloe Jarman posted on

Studying in London on a budget? Worried that you’ll be staring at the penny jar every two seconds? Don’t worry. We have many ways that can help you be careful with your money whilst living in the Capital.

person writing dollar sign on sketch book
Photo by rawpixel / Unsplash

  1. Stop and think! Do you really need that Starbucks sandwich? Or could you get a cheaper option at Sainsbury’s instead? (It's definitely the latter...) I’m not saying you can’t chose the nicer option all the time, but if you need to save some money, this is a great way to start. It applies to your weekly shops too - buying the own brand version tastes just as good (for most things anyway)

  2. Cards Galore There are so many ways of saving money in London, and not just on food! NUS, Tastecard and Unidays are just a few companies that don’t let students miss out by giving them affordable prices in all their favourite stores.
    1 U.S.A dollar banknotes
    Photo by Sharon McCutcheon / Unsplash

  3. Interest free These words are extremely important to look out for when setting up a student bank account. Some bank accounts allow you to have an overdraft with 0% interest! (but remember that each overdraft has a limit) Also, in your first year you may only be accepted for a low limit overdraft, but don't worry-in your second year you can usually apply for a higher limit.

  4. Tech Savvy There are many apps that you can download to help you budget. Daily Budget is one of these, look for the little Pig in the icon and that’s your guy. This app inputs your income (i.e. wages, student loan), expenses (i.e. rent, mobile contract) among other costs, then gives you a budget on how much you are allowed to spend per day.
    To find out more download the app now!

  5. Events With the touch of a button you have access to everything that’s going on in London for free. FREE. Yes, free. It might be the Capital city but even here there are activities and events that the ‘broke’ student can attend.Take a look at TimeOut to see what is going on.

  6. Get a Job Whilst you do have to attend lectures and seminars, there’s still time to earn some money and make your life a little more stress free. Just make sure to look for companies that are flexible, give you low hour contracts and understand the stress of being a student.

  7. Waste not want not Remember cooking is key as, not all of us have the luxury of dining in 5* restaurants. But make sure you don’t overbuy on your weekly shop, maybe instead do two shops per week meaning things stay fresher for longer.


Photo by Nick Fewings / Unsplash

  1. Travel Cheap Public transport. You’ll love it and hate it during your time in London and you’ll find it isn’t as cheap as you would think. But with the 18+ Student Oyster Card you can save 30% off the price of adult-rate Travelcards and Bus season tickets. Furthermore, with the 16-25 railcard you can get 34% off on off-peak pay as you go fares!

If you have any more tips, let us know in the discussion section below!

Top tips on saving money as a new student
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