Welcome to The Event School London! We’re excited to have you consider joining our vibrant community of future event professionals. As you prepare for this next chapter in your life, one of the key aspects to plan for is the cost of living in London. The capital city is renowned for its dynamic energy and cultural richness, but it's also known for its higher cost of living.
Here’s a guide to help you budget wisely and make the most of your student experience.
1. Understanding London’s Living Costs
London is a city of contrasts when it comes to living costs. While some areas are more affordable, others can be quite pricey. Here’s a rough breakdown of what you can expect:
Accommodation: Rent is likely to be your largest expense. Student accommodation typically ranges from £1,200 to £1,800 per month depending on location, type of housing, and amenities. Areas further from Central London are usually more affordable, so consider exploring neighbourhoods like Croydon, Acton, or Stratford. When choosing your accommodation location - remember public transport in London works on Zones - so you may pay more in travel by being further away from your study location. When you study with us, our venues are located on the Royal Victoria Docks, E16 1AA, Closest Station, Custom House on the Elizabeth Line or DLR
Utilities: Bills in private rented flats and houses for broadband electricity, water, rates and gas can easily add an extra £120 to £200 per month.
Tip - All Inclusive Accommodation - many students choose a Student Residence style of accommodation where the rent may be slightly higher per week/month but the fee includes all utilities. This can really help with budgeting and for many of our students in London for our 6 month and one year courses- it takes the hassle out of having to secure leases and set up utility accounts. Plus you'll usually have WiFi included and often have included access to gyms, study rooms and leisure facilities. Try our recommended student accommodation partner Londonist
Food and Groceries: Expect to spend around £200 to £300 per month on groceries. Shopping at local markets and discount stores can help keep costs down. Budget stores include https://www.lidl.co.uk/ and https://www.aldi.co.uk/ A great tip is to create an account with local supermarkets and do the first steps to an online shop choosing what you might normally have in your weekly or monthly shop. Then you'll get a really good idea of what your grocery shop will be. Some of the cheaper online supermarket sites to try this at include
Transportation: London’s public transport system is extensive, so budgeting for travel is essential. Once you have identified your preferred accommodation location - check out the fares for trips to our venues (closest station Custom House) and back using the Transport for London site: https://tfl.gov.uk/fares/
Medical Expenses: If you are an international student on a short course (up to six months) you'll need to have medical insurance to cover any emergency treatment you may need while in the UK.
Miscellaneous Expenses: Other expenses like dining out, entertainment, and personal items can add up to around £100 to £200 per month. London offers a wide range of free or low-cost activities, so take advantage of museums, parks, and student discounts.
2. Tips for Budgeting and Saving
Create a Budget: Start by outlining your monthly income and expenses. This will help you understand where your money is going and identify areas where you can cut back.
Student Discounts: Make the most of student discounts available at restaurants, shops, and attractions. Websites like Student Beans and UniDays are great resources.
Cook at Home: Eating out can be expensive. Cooking at home not only saves money but is also a fun way to explore new recipes and cuisines. Try some of the budget recipes from https://www.bbc.co.uk/food/collections/easy_recipes_for_students
Use Public Transport Wisely: Consider walking or cycling for shorter journeys. The city is well-connected, and you’ll get to experience London up close. Here's a guide to cycling in London: https://tfl.gov.uk/modes/cycling/
Find Part-Time Work: Many students take on part-time work to supplement their income. There are numerous opportunities in retail, hospitality, and other sectors. Many of our students like the flexibility of working for event industry agencies like https://weareeventpeople.co.uk/job-board/
3. Financial Support and Resources
Scholarships and Grants: Look into scholarships or grants offered by The Event School London or external organisations. They can provide valuable financial support.
Budgeting Tools: Use budgeting apps to track your expenses and manage your money more effectively. Tools like YNAB (You Need A Budget) or Mint can be quite helpful. Or an online planner like https://www.moneysavingexpert.com/students/student-budgeting-planner/
4. Making the Most of London
While managing your finances is crucial, don’t forget to immerse yourself in everything London has to offer. From iconic landmarks to hidden gems, the city is a treasure trove of experiences. Take advantage of free events, theatre week discounts, explore different neighbourhoods, and engage with the local culture. Your time in London will be an enriching part of your educational journey. Articles like this one will help you find affordable ways to enjoy London without wrecking your budget: https://www.timeout.com/london/fun-things-to-do-in-london-for-under-5-budget
At The Event School London, we’re here to support you not only in your academic pursuits but also in navigating life in this vibrant city. We hope this guide helps you plan your budget and enjoy your time in London to the fullest.
If you have any more questions or need personalised advice, don’t hesitate to reach out to our student services team. We’re excited to welcome you to London and to our school community!
Stay tuned for more tips and updates on student life in London. See you soon!
Useful Articles
Comments