London iscrazyexpensive.
“Living in London is very expensive,” says Thomas Caussade, a PhD student at UCL. “We already don’t get much for our PhD stipends. It’s only manageable if you’re the type of person who doesn’t spend much or doesn’t live a luxurious life. But despite how expensive it is, you’ll find a way, and if you have a concert you really want to attend, go for it.”
Originally from Chile, Caussade has been living in London for the past two years.
Initially, it was challenging for him to determine how to manage his stipend.
An average PhD stipend in the UK is approximately £20,780 (around US$26,364), equivalent to £1,731.67 per month in spending money.
And with the standard of living there, that’s a tight budget.
(Disclaimer: Caussade did not disclose the value of his stipend; however, it’s close to the average.)
Caussade graduated with an undergraduate and Master’s degree in Mathematical Engineering from Pontificia Universidad Católica de Chile. Source: Thomas Caussade
The secret to getting “affordable” rent when living in London
The average monthly flats to rent in London is around£1,500 (around US$1,975) – £1,600 (around US$2,107), but this number can vary greatly depending on where you live in the city.
On top of them, you’d have to consider food, utilities, transportation, and spending money.
“The most expensive thing in London is most definitely the accommodation,” Caussade shares. “If you live close to the centre, it’s going to be very expensive, small and not cosy. But if you’re willing to live a little further away, you can get a flat for the same price, but twice the size.”
The best part? As an international student, you don’t have to pay for council tax when renting.
However, the trade-off is that you’ll have to pay for transport each time you travel into the city, which is also expensive.
There’s a solution — discounted travel cards, such as the Oyster photocard.
You’ll have to be:
- 18 or over
- Living in a London borough during term time
- Enrolled at a school, college, or university, registered on the TFL scheme or on a mandatory work placement in London.
London’s tube fares can be costly. On average, you can spend as little as £8.90 (US$11.84) and as much as £16.30 (US$21.68). Source: Pexels/Guilherme Christmann
It’ll save you 30% on adult-rate travel cards as well as bus and tram pass session tickets. And if you get a 16-25 Railcard or 26-30 Railcard, you’ll save 1/3 on pay-as-you-go off-peak fares and daily caps by adding the Railcard discount to your 18+ photocard to travel on the Tube, London Overground, Elizabeth line and most National Rail services in London.
This will help you a lot when budgeting in London.
“If you manage to study or work from home for a few days, then that may also help you save on travel money,” says Caussade. “I know because I only go to university for about three days a week, and I stay home for two days of the week.”
Save up and save the environment by getting pre-loved furniture
When it comes to furnishing your flat, Caussade shares that there are several communities where you can obtain furniture or appliances for almost nothing.
“There are people who are leaving London, so they want to get rid of their stuff, even their sofas, so they’re willing to let it go for a very low price,” he says.
Don’t forget to show your student ID for transport discounts. Source: Pexels/Alaur Rahman
Discounts. Discounts. Discounts… and saving up
Another tip? Open up a bank account that allows you to create as many “pockets” as possible — it will help you save for different things or needs, and help you visualise how much you have for each need.
Budgeting in London isn’t for the faint of heart.
“I make sure the money I save in each pocket is exactly what I need,” Caussade shares. “I know exactly how much I have, so I can go spend on whatever I want, even concerts.”
Caussade also notes that numerous student discounts are available when living in London.
There are apps like Student Beans, UNiDAYS, TOTUM, and Too Good To Go that can help international students save up.
“Student discounts are more widespread than one would expect. You can get discounts on electronics, TVs, clothing, and even food,” Caussade shares.
London is expensive, and Londoners know it — so they’re really trying to help students to survive.
