A city like London is an eye-catcher for many. It is a perfect tourist destination for some and the perfect launchpad for a successful career and business for many. London has its roots deep in nurturing professional growth and diversity, inviting organizations of all scales and diverse cultures.
Being in the internship industry for quite some time now, we understand that being an international student in one of the biggest platforms is no easy affair. In fact, Imperial College of London published a statistic on the average cost of living for a student in London that averages up to £400 every week. It is safe to assume that it is much the same for an average intern in London, if not worse.
London brings forth wondrous opportunities of great magnitude, with the caveat of expensive day-to-day living. If you are looking to do an internship in London, or if you’re already in London looking for ways to curb the city’s exceeding expenses, this blog is for you.
Break down the costs
London is one of the most expensive cities in which to live. But be it any city, it is quite easy to boil down all your expenses into major categories. And those are Accommodation, Food, Transportation and Entertainment.
To achieve affordable living in London, it is crucial to calculate each of these categories implement some cost-effective methods, and utilize various budgeting tips as interns. Let’s take a closer look, one by one.
How to find cheap accommodation in London
As of present times, cheap housing rental in central London is close to a myth. London is getting more crowded by the day with people from all over the world looking to make their mark in the big city. Such trends influence the economy, hence making accommodation options scarce and expensive. If you plan to circle in on budget accommodation in London as an intern, these might be a few of your best options:
Hostels: Sprawled across the city, you will find student dorms and hostels where working professionals are also welcome. Such communities are often the cheapest answer to housing in London. Also, this is a great way to meet some new friends and make more meaningful connections with other people.
Shared Apartments: As you can probably guess, affordable living is the need of the hour, or the century for most other London residents. This is reflected in more vacancies for shared apartments and communal/ co-living spaces. You can use platforms such as Zoopla and SpareRoom to identify suitable accommodation options, considering all factors such as rent, proximity to the office, amenities, etc.
Finally, it is always an added skill to try and renegotiate the rent with the housing landlord, and perhaps even avoid scams in the process.
Munching on a crunching budget
Food is a basic necessity and staple of everyday life, and it’s never healthy or logical to go frenzy on budgeting with food. But certainly, just like other categories, there are ways to control your finances when shopping for food:
Grocery shopping is the ultimate budgeting tip for interns as purchasing food right down to the ingredients not only contributes to significantly cutting down on the costs but also paves the way for healthier and customizable eating habits.
Also, instead of frequently visiting fine dining restaurants and delis, swap them with budget-friendly restaurants and street vendors that don’t compromise on safety or taste.
In a well-connected city like London, which is the epitome of exemplary infrastructure, there are many transportation options available to get from one point to another.
Let’s start with London’s incredible public transport system; a chain network of buses, subways and metro lines. This is a godsend for fast connections within the city and makes it easier through multiple routes with various transportation options. If you are in London for a longer stay, getting an Oyster card can help you save some money as well as make traveling in London more convenient.
Another option if your office is close to your accommodation, is to pick up cycling or plainly walk. London’s charm is almost invigorating to pedestrians and this is also one of the best ways to explore London by getting yourself through each street and corner.
The free wonders of London
There is no alternative to entertainment, and it’s not best to refrain from entertainment while you are excited to explore London in its true glory. But here is a list of free attractions in London that gives you the feels without taking out your wallet.
In conclusion
If you are conscious about your spending on an internship and want value without the financial burden, then probably choosing an internship in London is not the best option. In this case, you can choose to intern remotely or find an in-person internship closer to your home.
But if you want to leverage the unparalleled value of an internship in London and want to do it with minimal expenditure, you can take advantage of some of these budgeting tips and cost-effective methods. Saving money as an intern does not have to be boring, or unrewarding if you plan correctly.
Our summer internships in London might be a good option to experience London in a short window at one of the cheapest programs.
