Home Business Insights & Advice Five businesses helping London students tackle the cost of living crisis

Five businesses helping London students tackle the cost of living crisis

by Sarah Dunsby
20th Sep 23 4:02 pm

London, one of the world’s most iconic cities, has long been a magnet for students from around the globe.

Its prestigious universities and vibrant cultural scene make it an attractive destination for those seeking higher education. However, the allure of London comes at a price, and students often find themselves grappling with the city’s high cost of living.

Fortunately, several businesses have emerged to help London students tackle this financial challenge head-on. Let’s explore them:

1. Prograd: Empowering Gen Z with financial literacy

Prograd is revolutionising the way Generation Z manages their finances. Founded with the mission to equip young adults with the financial knowledge and skills they need to thrive in today’s world, Prograd offers a comprehensive platform that covers everything from budgeting and saving to investing and career development.

One of Prograd’s standout features is its ability to allow young people to earn money online. This is particularly valuable for students in London who often need to supplement their income to cover living expenses, but don’t want to be travelling long hours to work or paying commuter fees. By connecting students with local job openings, Prograd not only helps them earn money but also gain valuable work experience that can boost their CVs.

2. Fat Llama: Renting rather than buying

London’s high cost of living extends beyond tuition fees and rent. Students often need to invest in expensive equipment for their studies or personal use. Enter Fat Llama, a peer-to-peer rental platform that allows students to rent everything from cameras and musical instruments to electronics and outdoor gear.

By using Fat Llama, students can save significant amounts of money by avoiding the need to purchase items they only need temporarily. This innovative platform not only reduces the financial burden on students but also promotes sustainable consumption by discouraging unnecessary purchases.

3. UniCycle: Affordable bike rentals for sustainable commuting

Commuting in London can be costly and time-consuming, especially for students who need to travel between their accommodation and campus. UniCycle is a business that aims to make commuting more affordable and eco-friendly for students by offering affordable bike rentals.

UniCycle provides students with access to a fleet of well-maintained bicycles at affordable rates. Students can rent bikes for a day, a week, or even an entire semester, making it a cost-effective alternative to public transportation or car ownership.

By choosing UniCycle, students not only save money on commuting expenses but also reduce their carbon footprint, contributing to a more sustainable and eco-friendly London. This service not only helps students tackle the cost of living crisis but also promotes healthier and more environmentally conscious transportation options.

4. StudentSwaps: Textbook and study material exchange platform

Textbooks and study materials are a significant expense for students, and they often end up with unused or outdated materials after each academic year. StudentSwaps is a platform designed to address this issue by facilitating the exchange of textbooks and study resources among students.

On StudentSwaps, London students can list the textbooks, notes, and other study materials they no longer need and connect with fellow students who are looking for those exact materials. This peer-to-peer exchange platform helps students save money by avoiding the purchase of new textbooks and resources each semester.

Additionally, StudentSwaps encourages sustainability by reducing the demand for new printed materials and promoting the reuse of educational resources. This innovative business not only helps students manage their expenses but also fosters a sense of community among London’s student population.

5. Too good to go: Fighting food waste and saving money

London students often face the challenge of balancing their tight budgets while still enjoying the city’s culinary delights. Too Good To Go is a business that helps students and locals alike by reducing food waste and providing affordable dining options.

Too Good To Go is an app that connects users with nearby restaurants, cafes, and grocery stores that have surplus food at the end of the day. These businesses offer their surplus food at discounted prices through the app, allowing students to enjoy delicious meals at a fraction of the regular cost.

By using Too Good To Go, students not only save money on their daily meals but also contribute to the reduction of food waste in London. This innovative approach addresses both financial and environmental concerns, making it an invaluable resource for students struggling with the cost of living in the city.

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