As the capital city of both the UK and England, it’s no secret that staying in London, even for a while, can be quite expensive. Panic not, though; it’s totally manageable. The city of London is one of the most popular and iconic cities in the world, and its lifestyle and nightlife are second to none. As a foreigner visiting London, managing your finances efficiently is crucial to making the most out of your time in this city.
If you’re wondering what to do so that you can save money while staying in London, we won’t keep you waiting for long. In this article, we’ve compiled all the tips and tricks for staying on a budget in this city as a visitor there, discussing all expected expenses, from transportation and entertainment to food and accommodation in London. Let’s jump right in!
Saving Money While in London
- Do Some Serious Planning
You can’t just stay in London and expect to manage your finances one day at a time without planning your budget. Unfortunately, it doesn’t work like that. Before you even set foot in London, create a detailed budget plan. Consider all your expected expenses, including tuition fees, accommodation and student halls, transportation, groceries, and leisure.
- Find Affordable Accommodation in London
One of the biggest expenses for travellers in London is accommodation. While living in the city centre might seem like a pretty good idea, it’s usually more expensive. Try to find accommodation in London that’s a little farther away from it to save some extra cash. Also, if you don’t mind sharing an apartment with someone, take it into consideration. It’s another fantastic way for visitors to save money in London.
As for students, university dorms are great but can be a bit expensive. What’s the alternative, you may ask? Well, it’s private student accommodation and PBSAs (Purpose-Built Student Accommodation). PBSAs like iQ City, Regent’s Park, and Clover Court are great options to consider when seeking student accommodation in London. So, if you’re up for it, student accommodation portals like Casita are a great way to find something affordable.
- Use Public Transportation
If you’re used to taking taxis and renting cars, you might want to reconsider because in London, it’s going to cost you a fortune and will take a big bite out of your budget. In London, people opt for the public transportation system because it is extensive, reliable, and efficient. Invest in an Oyster card or a contactless payment card for reduced fares on buses, trams, the underground, and the DLR.
Additional Tip: Walk or cycle whenever possible. This is a great way to experience the city and simultaneously save money on transportation costs.
- Don’t Eat Out A Lot
We’re not saying you can’t eat out and have a taste of London’s various restaurants and cuisines; just try not to do it too often. Cook your meals instead of buying them, and if you don’t know how to cook, try to learn the basics because it will save you a fortune. You can find a wide range of affordable recipes online and in cookbooks. Shopping at local markets and supermarkets can also help you save on groceries.
- Look for Tourist Discounts in the UK
This one is the best of the hacks offered here. Always do your research beforehand and inquire about discount cards when purchasing tickets or shopping. Many tourist attractions, like museums, galleries, theatres, and shops, offer discounts to travellers. This will help you explore the city without spending too much money!
- Find Low-Budget Activities in London
We know how appealing and tempting London’s nightlife can be, and we encourage you to go out and be a part of it, but you also need to remember how costly it can be. Look for free or low-cost activities and attractions to enjoy your time without breaking the bank. Even the top theatre venues in London have low-priced events. Whether it is the leading West End theatre or the best comedy club in London, there are budget-friendly activities throughout the week.
- Get a Part-Time Job
While this mostly depends on your time and schedule, it is a great way to earn extra money and save up for expenses. You get an experience that you can brag about later because it gives you an advantage in the job world while getting extra cash to tour and truly experience the city. We mean, that’s what dreams are made of, right?
- Try to Stick to Your Budget Plan
We’ve saved the most important one for last: stick to your financial plan! While we know that sometimes this could prove challenging thanks to London’s many tempting offerings, you’ll have to try your best to manage your finances. This will help you track your spending. Plus, learning to do so is a valuable life skill!
And there you have it! Travelling to London is a once-in-a-lifetime experience, but it doesn’t have to break the bank. Utilising the above hacks can help you enjoy all that this lively city has to offer without draining your finances. Just plan your finances wisely. Good luck!
