Money-saving tips for international students in the UK

Studying abroad requires careful financial planning and budgeting. You want to ensure you have enough to cover your expenses and perhaps a bit extra for activities and entertainment. The good news is that there are ways of saving and making your money go further. We investigate top money-saving tips for international students in the UK. We’ll cover student discounts, bills, bargains and student-friendly schemes. 

Stick to a budget

This can’t be emphasised enough. While planning your studies, it’s a good idea to research the cost of living in the UK to understand how much money you will need weekly and monthly. IDP have a useful cost-of-living calculator that you can use. 

When creating your budget, ensure you consider all of the costs you will need to cover. You don’t want to arrive and discover additional amounts you need to find. Costs you should always budget for are:

• Tuition fees
• Expendables (stationery and equipment)
• Accommodation 
  • Utilities and services
• Insurance 
• Transportation 
• Food and entertainment 
• Clothing (weather dependent)

An additional aspect of your budget should be consideration of the city you live in, as different cities in the UK are more or less expensive. Be prepared to have your bank account and savings information requested by a university and the UK government. This is done to ensure you have enough money to support yourself while studying. 

Discover how to apply to study in the UK. 

Use student discounts and public transport

Taking advantage of student discounts is a great way to save money and stick to your budget. With student discounts, you can pay less for everything from books to transport. The National Union of Students (NUS) offer a discount card that can be used for a variety of goods and services, including online. Many retailers, restaurants and shops offer special prices and offers for students. 

Using your student or library card you can get travel discounts. 16 to 25-year-olds and full-time students qualify for a 30 per cent reduction in train fares nationally. Just purchase a Young Persons Railcard (GBP 30) and provide proof of student ID. 

If you are studying in London, you also qualify for an up to 30 per cent discount for buses, trains and the underground using an 18+ Student Oyster Card. This card allows you to swipe in and out at stations and works on a pay-as-you-go basis. 

Remember to research, verify and understand the benefits of any schemes you sign up for. There may be an initial joining fee or payment needed, and you want to ensure that you’ll use the service while studying.

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Negotiate on bills and fees

If you have done your budget, you'll know your costs and how much money you need. You’ll know when payments are due and the flexibility you have in terms of deposits and dates. However, this does not mean that you can’t negotiate. 

Some universities allow you to set up a personalised payment plan for living costs and tuition fees to make it more manageable. This can be done for accommodation too. Discuss with your university if there are any extras you won’t need that you can opt out of to save some money. 

If you rent accommodation off-campus or from a private landlord, always do your research. Understand the average price of housing in your location and see whether you can negotiate the asking price down. Being informed is essential as you are in a stronger negotiation position. 

Always keep a close watch on your monthly fees and bills. Check for any increases or new costs, and be sure to query them. Decide if you need all the services or utilities you are paying for. This goes for broadband and insurance too. Shopping around for better deals and doing a price comparison is advisable. Check if your cellular phone package is transferable to a cheaper one. Don’t forget that if you have a TV, you need to pay TV license, which is GBP 159 per year.

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Search for deals 

If you know where to look, you can save a lot of money by finding deals. We know it’s tempting and sometimes convenient to buy things quickly and think about the price later. But if you employ some simple strategies, you can have more money left in your pocket. Some tactics you can use include:

• Using cashback or loyalty plans from retailers who offer this incentive. This works well for groceries and expendables. 
• Buying house brand food products from stores instead of brand names. They’re just as good and can make your meals significantly cheaper. 
• Purchasing second-hand books, clothes and other items. Charity shops are a great option. University shops may also sell second-hand prescribed textbooks. 
• Shopping after 6 p.m. at the grocery store means more deals and marked-down items, especially food. Don’t be afraid to buy items that may be past the Best Before date, as they can still be used.
• Checking different sections of a store as the same items sometimes have different prices depending on where they are placed. 
• Buying common items in bulk at better prices, especially for toiletries and food.
• Going to entertainment venues like the cinema or fun parks during off-peak hours.
• Searching for venues or shows with free entry or offering significant discounts for students. 

If you decide to open a bank account in the UK, look at the banks offering student-specific accounts with additional benefits. You could also qualify for overdrafts, freebies and good interest rates on savings. 

Working part-time

If you want to add a bit of extra money to your account, you can explore working in the UK while you study. Your student visa will usually allow you to work part-time up to 20 hours a week during term time and full-time during the vacation period. Always check the conditions of your visa and the role or student job you will undertake. 

Depending on your course, you may also undertake a paid internship or work experience programme. This is not only good for earning some extra money but also for your CV and graduate prospects. If you are working, check that you have a valid contract and agreement in place and are paid at the legal rate. If you aren’t sure, verify this with your university careers or international office. 

As you can see, there are plenty of ways to save money while studying in the UK. It just takes some research and self-discipline. We can also help you continue your UK study research with information on famous alumni from UK universities, the top five places to visit in the UK, and a guide to the grading system in the UK.