The UK offers world-class universities, diverse cultural experiences, and a chance to broaden one's horizons. However, it's no secret that studying abroad can come with various financial challenges, especially when considering the cost of tuition, accommodation, and daily living expenses.
This should not be a hindrance to achieving your dreams, as there are many ways through which you can save money. With careful planning and budgeting, you can navigate your student life in the UK without emptying your wallets. When you have the right mindset and go ahead with practical approaches, you can not only thrive academically but also make lifelong memories without the burden of financial stress. This is all that we are going to focus on as we discuss the top 8 money-saving tips that you must know about as an international student living in the UK.
If you are interested in knowing more about the best UK universities and scholarship opportunities available in the UK, consider booking a free consultation with SI-UK to get expert guidance today.
Money Saving Tips for International Students
1. Master the art of budgeting
Before you step foot on UK soil, craft a detailed budget that covers all expenses – tuition fees, accommodation, transportation, groceries, and leisure activities. By having a clear understanding from the beginning, you will be able to keep track of every expenditure properly, which will also help identify areas where you can cut costs if and when needed.
2. Exploring affordable accommodation
Apart from the tuition fees, most money will be spent on accommodation. It is worth researching the various options on-campus or off-campus to find affordable housing that also makes you live comfortably so that you can study with ease. While dormitories and university-managed accommodations are often convenient and, at times, affordable, you may want to consider shared flats or private rentals as budget-friendly alternatives. Some universities also offer discounted rates for on-campus living options so that you can ask for the same.
3. Leverage student discounts
Your student ID is a golden ticket to a world of discounts. From public transport and cinemas to restaurants and shopping, make sure to take full advantage of the student discounts available. At first, you may want to get your National Union of Student TOTUM card, as it gives you access to various student discounts. Additionally, you can also avail of online discounts as students, for instance, on Spotify. Take advantage of your student status fully and enjoy the benefits of getting discounts at various places.
4. Cooking creativity
Costs incurred in eating food, especially the outside food, can significantly increase your monthly budget. The best way to save money on food is to embrace your inner chef and cook your own meals. Buy groceries in bulk, explore the local markets, and experiment with budget-friendly recipes. The great part about saving money through this method is that you can keep your health also in good condition. Cooking, as per your taste and diet preferences, has benefits at many levels, and you must take advantage of those when living as an international student in the UK.
5. Smart transportation choices
You must utilise student discounts on public transportation by investing in a National Railcard that can save almost 30% on every train journey undertaken in the UK. When living in London, you can link your railcard with the Oyster card as well to get more discounts while travelling on the London Underground and Docklands Light Railway. Apart from these steps, you may also consider walking or cycling whenever possible to cut down commuting costs within the city you are living in.
6. Outsmarting textbook expenses
Textbooks can be a significant expense while studying abroad, but they don't really have to be. You can borrow expensive books from the university library, buy second-hand from seniors or other marketplaces, or explore digital resources and e-books for a more cost-effective approach.
7. Utility savings
Saving money on utility bills is also quite important, especially if you are living at off-campus accommodation options. For this, you must adopt energy-efficient habits to reduce utility bills. Be mindful of turning off lights, unplugging devices, and managing heating. You can also have a prior discussion and consider sharing utility costs with flatmates to cut expenses further. Some of these steps not only save money but also help save the environment in the long run.
8. Financial organisation
When, as an international student, you have to handle everything on your own in a new country, it is essential that you understand the importance of financial organisation at all levels. This is an important life skill which you can learn as a student and get strong as you go ahead in your career. At the basic level, you should open a local bank account to avoid hefty international transaction fees. You should also utilise online banking tools to keep track of your spending, set up automatic bill payments, and stay on top of your finances by being organised.
FAQ
How do I make money as a Malaysian student?
As a Malaysian student studying in the UK, you have several opportunities to make money and support your living expenses. With a valid student visa, you can work up to 20 hours per week during term time and full-time during holidays. You may consider part-time jobs on campus or off-campus in retail, hospitality, or customer service roles.
Is there any financial help for Malaysian students in the UK?
Yes, there are several financial assistance options available for Malaysian students studying in the UK. Many universities offer scholarships, grants, and bursaries specifically for international students, most of which are based on academic merit, leadership qualities, or specific areas of study. The Malaysian government also provides scholarships and loans for students pursuing higher education abroad.
How to afford Malaysian student fees in the UK?
Affording Malaysian student fees in the UK involves a strategic approach. You can start by researching scholarships and grants offered by both UK universities and the Malaysian government for financial support. Explore part-time job opportunities within the permissible limits of your student visa to earn additional income. Budgeting and managing expenses wisely, such as opting for shared accommodations and using student discounts, can also help reduce costs.
Which is the cheapest place in the UK for Malaysian students?
One of the more affordable cities for Malaysian students in the UK is Birmingham. With a lower cost of living compared to cities like London, Birmingham still offers a vibrant cultural scene, excellent educational institutions, and a diverse community.
Which UK university is the cheapest for Malaysian students?
The University of Bolton is often considered one of the more affordable options for Malaysian students studying in the UK.
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