Written by Alexandra (Indonesia), BSc Medical Biosciences (BMB) graduate and MSc Reproductive and Developmental Biology
I think it’s so important that we talk more openly about budgeting and finances. Money is a topic our society often shies away from, but when you move to London as a student, staying silent about costs only makes things harder. I really think that talking openly about real numbers helps all of us navigate living alone for the first time and take control of our budgeting.
Personally, I’ve capped my budget at a maximum of £550 per month (excluding rent and utility bills). Find out how I balance the costs of living in London as a student while still having fun, and my top tips for keeping costs low:
The Day-to-Day Living Budget Breakdown (£550/month maximum)
Phone and subscriptions: £12.99 per month
- VOXI Mobile deal (£10/month): I pay £10 a month for my data plan, which includes unlimited social media (so scrolling Instagram/WhatsApp doesn’t eat my data) and a 60GB data allowance.
- iCloud storage (£2.99/month): I don’t pay for TV or streaming subscriptions since I rely on shared family accounts, so my only digital subscription is extra iCloud storage.
Groceries: ~£150–£200 per month
- Sainsbury’s online delivery hack: Food is one of my biggest expenses, but I save energy and money by booking £1 saver delivery slots once a month. Ordering bulky items in bulk (rice, cupboard items like tinned tomatoes and beans, toilet paper, paper towels etc.) stops me from lugging heavy bags across London or making impulse buys. This way I can sit down, plan my weekly meal prep and order exactly what I need.
- Superstores vs. express stores: Delivery doesn’t eliminate quick top-up shops, but I try to stick to budget supermarkets like Lidl and Aldi or full-sized superstores (like Big Tesco or Sainsbury’s). Convenience branches like Tesco Express or Sainsbury’s Local charge higher prices and stock fewer budget ranges. For example, instead of paying £3.00 for Tesco Finest smoked back bacon at an Express store, you can pick up a £1.50 budget pack of bacon rashers at a Big Tesco’s.
Transport: ~£57.50–£67.50 per month
- Santander Cycles annual pass for students (£90/year = ~£7.50/month): Hands down my best purchase. So many of my friends have had their personal bikes stolen in London, and repair costs add up quickly. Using Santander Cycles to get around London means zero maintenance stress or theft worries.
- TfL (Tubes and buses) (£50–£60/month): While I usually cycle to and from campus, I still use the Tube or bus when the weather is bad or for longer journeys for days or nights out. Linking a 16-25 Railcard to an Oyster card also gets you a 1/3 discount on off-peak Tube fares. This is one of the most useful tricks for new London students, especially since you probably have a Railcard anyway if you’ve organised at least one trip to somewhere in the UK outside of London.
Eating and drinking out: ~£100–£150 per month
This allows for a meal out in a restaurant once a week, which I try to limit myself to. Although this used to be difficult, the more you cook, the better you get at cooking, and so your cooking now tastes the same as going out!
- Low-cost nights out: I have nights out maybe once a month, and a typical night out for me isn’t that expensive. For example, recently my friends and I grabbed some drinks for £10 at a shop to share, hung out in Clapham Common, and ended up at The Swan bar and club in Stockwell, which has £7 entry fees before 12 am. Other cheap bars/clubs include Heaven, which has £1 Fridays and Simmons, which has happy hours before 9 pm. Lightbox also usually has free entry for students before 12 pm on Fridays and Saturdays.
- Coffee routine: I’m a huge coffee addict and love going to cafes, so I get a few coffees out during the month, especially when catching up with friends. However, most of the time I make coffees at home with pods, which saves me around £100+ a month.
Events and one-off activities: ~£50–£100 per month
We live in London to experience it!
- Cultural experiences: I love going to the theatre to see plays or musicals, or sometimes even concerts. Some of these can be really cheap, like Shakespeare’s Globe has £10 standing tickets. I also generally always pick the cheapest options, even if that means sitting in ‘nosebleed seats’ high up in the theatre or seats with restricted views. This month, I spent £32 for two IMAX 70mm tickets at the Science Museum to watch The Odyssey with my boyfriend.
- Milestone outings: Finishing our MSc dissertation called for a rare, spenny £50 night out in Soho with my coursemates.
- Self-care and beauty hacks: Self-care in London can be expensive, but you don’t have to skip it altogether. Here’s some hacks to help you look after yourself without breaking the bank:
- Salon training academies: Top salons run academies where supervised trainees give quality haircuts for cheap. I recently got a £12 haircut at Hari’s Training Academy in their South Kensington branch! Toni & Guy also offer £20 academy cuts, and Sassoon is another student favourite.
- Boots student discounts and points: For toiletries and cosmetics, stack the 10% Boots student discount with their Advantage Card points system!
I don’t usually spend my whole £100 budget for events and activities. However, annual one-offs like Christmas presents, my birthday in September, summer trips, etc., mean keeping a rolling buffer under my max £550 budget keeps special months stress-free.
Adding up the higher ends of all categories: £12.99 + £200 + £67.50 + £150 + £100 = ~£530, which is still under my max budget of £550 a month!
Accommodation and utilities breakdown (not included in the £550 monthly budget)
For anyone curious about expenses associated with accommodation in London, I rent privately with a flatmate in Vauxhall. These fixed housing costs are kept separate from the day-to-day living budget above:
- Rent: £1,213/month per person
- Wifi: £15/month per person. We’re on a 1-year internet contract with Plusnet via Openreach, but longer contracts can be cheaper per month.
- Energy (gas and electricity): ~£40–£45/month per person with Octopus Energy. Our flat has a high B Energy Performance Certificate (EPC) rating, which keeps our winter heating bills low.
- Water: £19/month per person.
So my additional monthly spend for accommodation and utilities is: £1,213 + £15 + £45 + £19 = ~£1,292
