How to Manage a Student Budget in the UK

Studying in the UK is one of the best investments you can make in your future. But especially if you are moving to a large, dynamic city like London, getting your financial planning right is vital. Questions such as “How much will I spend each month?”, “What costs will I have besides accommodation?” or “How can I protect my budget?” may be on your mind.

Don’t worry; the UK offers international students countless opportunities and discounts to help them manage their budget. Here are the golden rules for living comfortably in the UK without breaking your student budget!

1. The Biggest Expense: Accommodation and Bills

Accommodation will make up the largest part of your budget. But there is one crucial point to keep in mind: Rent and the cost of living are not the same thing. When you rent a conventional home, these “hidden costs” are added on top of your monthly rent:

• Electricity and gas (these can strain your budget, especially in the winter months)
• Water bill
• High-speed internet connection
• Gym membership and other social spending

City Nest All-Inclusive System: The best way to protect yourself from surprise bills is to choose “all-inclusive” options. In the premium properties and flats offered by City Nest, all bills are included in your rent. What’s more, as the 24/7 gyms, cinema rooms and study areas in the building are free, your social spending outside drops considerably too.

2. Smart Grocery Shopping

Grocery shopping is the easiest area of your budget to flex in the UK. Supermarkets fall into categories by budget:

• Budget: Aldi and Lidl (student favourites, very reasonably priced.)
• Mid-range: Tesco, Sainsbury’s, Asda (ideal for everyday shopping; their good-value lunch bundles known as the “Meal Deal” are famous.)
• Premium: Waitrose, Marks & Spencer.

The stylish, fully equipped kitchens (built-in oven, microwave, fridge) in City Nest accommodation let you cook your own meals and keep eating-out costs to a minimum.

3. Public Transport Hacks and Travel Discounts

The UK, and London in particular, has an extensive public transport network. Follow these steps to cut your transport budget in half:

• 18+ Student Oyster Card: A travel card giving students a 30% discount on the Tube and buses in London.
• 16-25 Railcard: Cuts the cost of intercity train tickets within the United Kingdom by a third. (A must if you are planning trips from Belfast to London or Cambridge!)
• Choose Central Accommodation: The best way to cut your travel costs to zero is to live within walking distance of your school. Thanks to the central locations in the City Nest portfolio, you can reduce your reliance on public transport.

4. The Magic Words: “Student Discount”

Being a student in the UK is a real privilege, in the truest sense of the word. From restaurants to cinemas, clothing shops to tech purchases, student discounts are available everywhere.

• UNiDAYS and Student Beans: Download these two apps to your phone and get instant discounts of 10% to 50% at hundreds of global brands such as Apple, ASOS, Nike and Spotify.
• TOTUM Card: The official students’ union card in the UK, offering huge benefits at local businesses.

5. Part-Time Work Opportunities

If you hold a Tier 4 (long-term student) visa, you are allowed to work up to 20 hours a week during term time and full-time during the holidays. In big cities like London, working part-time in cafés, retail or on university campuses can easily cover your monthly pocket money while also developing your English and your professional network.

Leave Budget Stress Behind

The secret to financial peace of mind in the UK is to secure your fixed costs (especially accommodation and bills). Instead of wondering “How much will the electricity bill be this month?”, focus all your energy on your studies and on enjoying London.

To discover our luxury studio flats with all bills included and the accommodation options that best suit your budget, fill in the contact form on our website. Our team will get back to you promptly with options tailored to you.

Get in touch with our expert advisers today and let’s plan your UK adventure together!