In this latest lifestyle piece, Student Writer Adeyemi gives advice for students on how to manage their finances (and still have fun) while studying in London
Managing finances as a student in London can be very challenging. With its bustling high street markets, diverse restaurants and bars, rich cultural heritage and fantastic night life, there is always something to do. However, with school fees and housing costs on the side, how can you manage your finances to balance your monthly expenses, while making the most of your time in this fun city?
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Plan first: As a student, primarily, you should budget in advance for necessities such as accommodation, food, transportation, mobile fees, among other essential expenses. This can help cut down your monthly spending on trivialities, which can be quite high if not budgeted properly, as you live and study in such a vibrant city. So, my advice to you would be to focus on the most important elements of your student life in London and the expenses around that. Social life and trivialities should not come before your necessities on your monthly budget.
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You need to be disciplined in order to spend effectively as a student and this requires sticking to a budget, regardless of how tempting it maybe to overspend.
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All students are entitled to this card as well, which can be easily obtained through the Middlesex Student Union or here.
Some of these items can be sold at half the original price or even lower depending on the store or the item and you usually can find a bargain in your local area stores without the need to travel far.
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Also, shared housing services, which can be found through the student’s accommodation website, can be leveraged to reduce housing costs.
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Adopting these practical, but simple, strategies will help you manage your finances more effectively, while experiencing all that this diverse and vibrant London city has to offer.
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