Cost of Living in London

Prices and the cost of living in the UK will vary considerably from place to place. Generally speaking, it’d be cheaper to live in the North than it would be to live in London or the South-East of England.

For anyone thinking about working and living in the UK, a very important consideration is the cost of living in London. As anyone considering a life in London likely already knows, this is one of the most vibrant, cosmopolitan and internationally renowned cities in the world. Unfortunately, it is also among the world’s most expensive cities.

A useful way to budget for the cost of living in London is to divide expenses and make allowances for the cost of accommodation, food and drink, entertainment and transport. Take into consideration your expected standard of living and which part of London you intend living in.

Reducing the Cost of Living in London

Consider these tips for reducing the costs of living in London:

Accommodation

To reduce the amount you spend of accommodation, consider the option of accommodation sharing. You might also choose to live outside of London where the costs of living and daily expense are likely to be significantly lower. Bear in mind that living further from your place of work may mean increased transport costs so you’ll needed to budget for that as well.

Food and Drink

A great way to save money is to cook your own meals more often. When you do eat out, take advantage of restaurants that offer early-diner specials. You’d also do well to remember happy hour times of your local pubs.

Transport

If you come from a place where having your own car is the accepted way of life, remember that London has an excellent public transport system and is really the best way to get around. Another great money-saver is the Oyster card, which allows you to preload your public transport passes and offers cheaper rates.

Even though the cost of living in London may be higher than what you’re accustomed to, by being willing to adapt your lifestyle and taking a sensible approach to spending habits you should find it completely manageable.

Click here for more UK Money tips and a sample price guide