How to finance being a student in London

Education is a fundamental right of a living human, but education in the past years have become expensive. If you are living in London, then education for you can more expensive than most of the world. Don’t worry we are here to tell you guys how to finance being a student in London. The overall steps are quite hard much, but it will return as much.

Try to avail the scholarship.

If you have good grades in the past, try to avail for a scholarship. Most scholarships will cover your main fee of college or university. The main fees of college/university are the most expensive thing in student life. Some scholarships will also provide residential and transport allowance other than the main fees. Even you think your grades will not get you a scholarship you should still try. Some time due to particular complication other students couldn’t avail that scholarship in the end.

Take an educational loan

If you didn’t get the scholarship, don’t worry, there are other ways to solve this money problem. You can take an educational loan, almost all the renowned bank in London provide some student loan. Research the banks, compare their interest rate and other featuring they are offering. When you choose one, check its requirements. Most banks will readily give you an educational loan. All the amount is directed sent to the university by the bank. You can pay this loan after you pass out from the university and get a job. If you aren’t able to pay the loan, they will extend it for somedays but the interest rate will be higher. Some loans will offer additional small loans in case of need such as for food, rent or anything else.

Get a job

Even if you get a scholarship or loan, you will still need to work in a job. The job will cover your other expenses, such as transport, food, rent. It better suggested to have a job which timing is 5 pm to 10 pm. This kind of jobs will create time for your university and college. You will still have some time to spend with friends or to complete a project. Try to find a job which is more mind power using rather than requiring muscle.  For the first few days, you will feel exhausted by the job, but after a while, your body will build enough stamina.

Have a cheap living place.

If you want to spend the littlest amount on the house, it would be better that you live with your parents, but you have to live with your parents rule. If you aren’t comfortable with the idea of living with the parent, then try to find a student apartment. Students apartment are special building which has meagre rent, but you have to live with other students. Students can find it very helpful if you change some of your habits for others, or you can ignore other people habits. If it’s not the case, you have no other choice other than renting a dorm or house. Dorms and homes can be a little expensive for students, but if you can manage that, then that's good. Try to use your parents’ house or student apartment as you will save more money than living alone. You need every penny you can save. 

Have cheap but proper food.

Many students don’t realise that food can take a large amount of money from your bank. Try to find cheap food places near your living places. Keep in mind that the site you eating provided excellent and hygienic food. You can’t afford to get sick, as it is quite expensive. If you have some extra time, buy all the needed ingredients for the week and cook your food yourself. This can be hard for some people as they don’t know how to cook food. Remember cooking food yourself can be cheaper and you would have a large variety as well. Buy some instant noodle packs for an emergency. Due to some condition food centres might be closed and you need to eat so some emergency noodle packs will help you a lot.

Supply bag

The student in university and college often forget to eat food and get sick. Buy some chocolate sticks, some biscuit packets and some medicines to keep in your daily bag. If your blood pressure decreases or increase, eat the recommended item from the bag. They are also some other thing to keep in your bag. Carry a SWISS army knife, a rubber band, a safety, and an extra shirt and pant in your bag. If you have your car and it is your daily means of transportation, then you can put all item in the vehicle.

Transportation

Transportation can be a great way to save much money. Try to find a friend who lives near you and goes to the same college and university. Take a ride with him to the college or university. You will save a lot. If your house is quite near to the college walk to the place. In case if it is a little far use your car or bike but if you don’t have one use public transport. If you’re using public transport use the monthly ticket card as it much cheaper than buying tickets daily and it will also save time. 

Liability

The students in colleges and universities often buy expensive clothes, watches and phones to show to their friends. You will have to spend money only where it is necessary. All these are a liability and will give no profit. 

Invest in mutual funds or bonds

Students need extra cash to fulfil these needs. If you have some spare money left, try investing the mutual fund. It will give you a monthly profit without doing anything. Banks offer a different kind of mutual fund for the students which provide more advantages than regular mutual funds.  You can also invest in bonds. Bonds are like a currency of their own you sale them if you need cash in an emergency. If your bond number is drawn, you will able to pay a whole year of fees without even moving a muscle. 

Time management.

As a student, you will need to manage your time wisely as you would have very less free time. It’s better to make a schedule to manage everything efficiently. Wear a wristwatch to keep an idea of time. Some famous person once said, “time is money”. It is true, especially for students. Time can be a valuable thing.

Fitness

Keep yourself fit throughout the educational period. Being fit can be a great thing as you will get less sick. Getting sick can be a massive hammer to your bank balance. The medical faculties in London are quite expensive. It would help if you bought a fitness band which keep an eye on your health and will tell you whether you are doing well or not. The fitness band will also work as a watch. 

You will have to do all these things to save as much money you can. Money can be a massive point for you as a student, you will need to save every penny. College and university life is tough as your growing up, and you have to take up responsibilities. These hard times in student life are preparing you for the future. Just be sure to complete your studies and be a good human. 

Author Bio

Caspar Lee is a fervent blogger with extensive expertise in education, travel, health, lifestyle, career and technology based writing. He is at present an academic consultant for Best Dissertation Writing Services UK an organization helping students to find ease and peace of mind with better results.