Not a daft question at all - it’s something
a lot of people worry about quietly, so I'm sure there will be many people glad that you’ve raised it here.
The honest answer is that most people don’t make it work through a single source of funding. It’s usually a combination of things. The bursary many firms offer is intended to contribute rather than fully cover London living costs, and people tend to top this up in a few common ways:
- Savings or family support, where that’s possible
- Part-time work alongside the PGDL or SQE (this is very common, especially on the SQE)
- Living arrangements that reduce costs - house shares, living slightly further out and commuting or (where people are lucky enough) living at home still.
From my experience, very few people find the finances comfortable. It’s often tight but it
is doable with planning and by being realistic about lifestyle for that period. Some firms may offer additional support for future trainees such as interest-free loans that are deducted from your eventual first pay cheque, so these things are worth checking.
The majority of people that worked alongside the PGDL/SQE that I know of were providing academic assistance in some way. So checking/editing CVs and personal statements or tutoring (school, university and masters students). This can be done in person in London but also online; it's certainly manageable alongside the courses.
You’re absolutely right that this is something most people here will face at some point, and you’re not alone in feeling anxious about it. Hopefully, you'll have a good amount of time now to plan for moving to London rather than panic later on.
Hope that helps - happy to talk through options or hear what others have done as well.