Saving money in London

Here are some easy ways to save money while living in London.

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London is one of the most expensive cities to live in. But though it can be pricey, it is possible to save money while still enjoying the great things the city has to offer.

Use public transport

Get an Oyster card or a monthly Travelcard as this will help you save on travel costs. You can cut down on commuting costs even more by taking the bus rather than the train. And if you’re a student, signing up for a Student Oyster photocard could help you save a significant amount of money every month.

Walk

Funny enough, sometimes walking can be the best and quickest way to navigate London, especially during rush hour when buses and trains are packed and often delayed. Plus, walking is free! Here are some journeys that are quicker by foot:

  • Leicester Square to Covent Garden
  • Aldgate to Aldgate East
  • Bond Street to Oxford Circus
  • Blackfriars to Southwark

Shop at thrift shops

It happens to all of us. The payday splurge. Shopping is often how many of us end up spending too much money, given the temptations of fast fashion and seemingly constant sales. But buying clothing from thrift stores cuts what you would spend on clothes. London offers some of the best vintage stores, where you can score everything from one of a kind vintage pieces to high end designer ones. Here are some great places you can check out:

  • Reign Vintage
  • East End Thrift
  • Retromania
  • Rokit Vintage
  • Absolute Vintage

Sign up for reward programs

Lots of stores offer loyalty and rewards programs which can save you a good amount. Most grocery stores including Tesco, Iceland and Waitrose offer loyalty programs that can earn you vouchers and discounts on everyday purchases and help you save money on food. Some other great rewards programs include:

  • Nectar Card
  • Tastecard
  • Boots Advantage Card
  • Co-op Membership Card

Sign up for student discount schemes

University students can get great deals through discount programs like UniDays and Student Beans. Sign up using your university email address and get access to discounts for lots of different brands and services. Plus, lots of stores and restaurants around London offer student rewards and discounts. Just by showing your student ID card you can get great savings like:

  • Apple’s Education Pricing discounts
  • 10% off at Urban Outfitters
  • 30% off at Honest Burgers between 14:00 to 17:30
  • 10% off at SOHO Coffee
  • Free cheeseburger with any Value meal at McDonald’s

Use budgeting apps

Budgeting apps can help you keep track of your finances and be more mindful of your spending. These apps help you visualize and keep track of your finances so you can be more careful about your purchases and budget better. Some of the best personal finance apps out there include:

Yolt

Unthink Money

  • See your accounts in one place & stay on top of your money
  • Connect your current accounts, savings, credit cards, pensions, and investments
  • Backed by ING Bank
  • Download for free on iOS or Android
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Take advantage of free attractions

London has a wealth of attractions that you can enjoy free of charge. This includes some really great museums, parks and public monuments. Universities across London also regularly offer public lectures and film screenings which you should be sure to take advantage of. Some great free attractions include:

  • The Victoria and Albert Museum
  • Regent’s Park
  • Trafalgar Square
  • Hyde Park
  • The Natural History Museum
  • Southbank Centre

Invest in a reusable coffee cup

A reusable coffee cup is a great investment as it allows you to save a good amount on your hot drinks. Most places offer anywhere from 25-50p off when you bring in your own cup, with some even offering double reward points. Taking advantage of this could help you save a significant amount over the course of time, all while reducing the environmental impact of single-use cups.

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