General cost of living
Although it is impossible to predict everything that you will have to spend money on, this section provides useful information about general living costs.
For help to predict your expenditure visit How much will university or college cost?
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Accommodation
The average weekly rent in London for private accommodation varies. But costs are upwards of £95 per week for a single room with shared bathroom and cooking facilities. The rent for a University residence ranges from £95-£116 per week, depending on the Student Residence.
A deposit is required at the commencement of most tenancy agreements and is held against any damages made to the property. LSBU Student Residences all require a deposit of £250. Deposits in private accommodation are usually equivalent to a month's rent.
For further information visit our section about accommodation.
Budget
A realistic budget can help you plan your spending and gives you a good idea of what your finances will look like on a regular basis. This will help you identify areas where you're spending too much and make changes before your finances get out of control.
For further information and advise on budgeting visit Student Advice.
Food
You can expect to spend between £50-£60 per week on grocery shopping. It is usually cheaper to shop at local markets or larger supermarkets. You will find that supermarkets stock their own brands of many products, which tend to be cheaper than national or international brands. You may also be able to save some money by buying food with your flatmates or friends to share the cost. You can also join a supermarket loyalty card scheme
Unless you are planning to save money by bringing a packed lunch and drinks with you to University each day, you will need to budget for between £20-£25 per week to cover the cost of buying lunch and snacks.
Utilities
If you are sharing a privately rented property allow £10 per person per week for basic utilities (electricity, gas and water rates). It is advisable to ensure that the names of all the tenants are on each utility bill when sharing a property so that the liability for payment is shared.
Mobile phone
For most people, having a mobile phone is seen as a necessity rather than a luxury. If you really need to have a phone you may want to consider a 'pay as you go' phone for essential calls only. This way you are not tied into an expensive contract, and you avoid running up large phone bills that you are unable to pay.
Childcare
If you have childcare costs during your studies, we advise that you contact Student Advice and Guidance for information on what financial assistance may be available to help you meet those costs.
Insurance
It is highly advisable to take out an insurance policy to cover you against damage, loss or theft of your personal property within University Student Residences. Endsleigh Insurance Company has policies specifically designed for students who are living in University Student Residences or in a shared house. Prices start from £18 per person per year for University residences, and from around £50 per year for private accommodation. For more information pick up a leaflet in the Students' Union or visit the Endsleigh website.
Photocopying
An average weekly cost is around £4. This is likely to be significantly higher at certain times of the year (preparation for coursework submission, examinations, final year projects).
Books and equipment
The annual cost of books and course equipment can vary between £150-£250, depending on the course of study. To save money borrow text books from LSBU's library service. For further guidance please check with your Department.
TV Licence
If you are living in a University Student Residence and you use a TV in your room, you need your own licence. If you are living in a shared property and there is only one TV being used in a communal area then only one licence is required. However, if tenants use TVs in their own rooms then each tenant requires a separate licence, unless you have a joint tenancy agreement.
You need a TV Licence to watch or record TV programmes, irrespective of the channel, the device you use i.e.TV, computer, laptop, mobile phone or any other and how you receive them including terrestrial, satellite, cable or via the internet. If you don't have a licence you risk prosecution and a fine of up to £1000. So, if you watch or record live broadcasts via the BBC iPlayer you need a TV Licence. If you only watch or download programmes that have already been broadcast using the iPlayer or other internet services, you do not need a licence.
A colour licence costs £145.50 a year. It can be paid in monthly or quarterly instalments. Refunds are available on complete unused quarters, which can be useful if you are not using the TV during the summer vacation. If you are moving out of student accommodation your TV Licence doesn't move with you. You will need to notify TV Licensing of your new address.
TV Licensing refund for students
If you are moving back home for the summer from university and no longer need a TV Licence over the holidays, and there are three full calendar months before your licence expires, you are entitled to a refund for the unused, quarter of your licence.
You will need to ensure you buy a licence early on, by the end of September/ early October, in order to allow enough time at the end of the academic year to qualify for a refund.For further information, and to update your address, visit the TV Licensing website.
Field trips and residentials
Some undergraduate course modules include field trips that you will be asked to pay for separately. Some postgraduate courses include compulsory residentials, the cost of which is added to your total tuition fee. It may be advisable to check with your department at the start of the academic year how many field trips you will be expected to participate in, and for an average cost of each trip. This way you can build the cost into your budget and spread it across the whole year.
Going out
There are lots of free events and exhibitions in and around town. For a few suggestions visit Life in London.
Transport
Transport for London and National Rail, with the support of the National Union of Students (NUS), offer you the opportunity to obtain discounts on travel in and around London through the student discount scheme. With a valid Transport for London Student Oyster photocard, you can buy Travelcards and Bus Passes at 30% off the equivalent adult rate.
Research your travel route before starting out on your journey - you might be surprised that it is not far to walk.
