Studying and Budgeting

Some people may believe that colleges in London will present more financial obstacles for students than other student locations in the UK.

It is undeniable that the diverse choices available in London have both an up and down side. As a large capital city, there is unbridled choice, and an assortment of discounted and free events on offer which allow students at colleges in London to choose carefully and get by on a limited budget without missing out. In contrast as a 24 hour city, London presents many more ways to spend money in comparison to other UK towns, often making it difficult to save when going out.

London has been recorded as the most economical place students in the UK according to a survey comparing study locations for students.

The tips below may assist International students at colleges in London to limit the likelihood of getting into a state of poor finances and to optimise time spent studying.

Preparation

* Investigate likely costs of studying in London before you leave by questioning any relatives who may live there, searching on the internet, and going to a library.

* Ensure you are aware of what service or products are incorporated into your course. Some colleges in London may not have well resourced computer rooms so it may be worth purchasing a PC when you get there so your studies will not be restricted. Some text books may be included in college course fees however it is likely that you will need to buy subject specific magazines and newly published books in addition.

* It is better to explore funding options for your studies such as private or public scholarships, sponsorship or loans before you arrive. Place yourself in the best possible financial status and accumulate enough income in your bank account before you embark on your student journey.

Stay Ahead of Expenditure

* Draw up a budget of expected expenditure for the year, month and week in advance of your arrival. On arrival calculate your weekly budget by documenting and reassessing your monthly, or weekly expenditure including a surplus in case of any unexpected payment requests. Apart from expenses such as accommodation, travel, food do not forget to include insurance, health costs in case of an emergency, bank charges, additional accommodation expenses, such as a deposit, utilities (e.g. gas, electricity and water) , internet and TV Licence. Also it is essential to keep a budget for clothes and going out so that you can make the most of your time in London. Having set your Budget make sure you are disciplined and do not vary it each week.

* Consider which Bank Account is best for you. Online banking is a useful tool to assist you to keep an eye on your bank balance, so make sure your Account has this facility and use it often. Be aware of bank overdraft limits and charges for exceeding them as some banks charge mercilessly. It is certainly a good idea to keep emergency money aside in an instant access savings account rather than opening an additional bank account.

Shop Around for a Bargain

* Compare prices before buying. Look around for economical places to buy everyday items as well as places to socialise. London has many markets and supermarkets where more economical products can be found.

* Always keep a look out for student concessions, free events, facilities and alternative ways to have fun in London on a minimum budget.

It is certain that students at colleges in London, must have the ability or learn to manage their finances effectively in order to make the most from their studies. In the end you will find that being a student in London will teach you an invaluable skill for life.


When studying at a college in London it critical to understand how to manage your finances and consider the costs of your college fees as this is a big part of the yearly expenses. For a top class experience at a reasonable price consider http://www.lsbm.org.uk...you won't be disappointed.