London Style Living – Plan Your Lifestyle Within Budget

London Style Living – Plan Your Lifestyle Within Budget

London is known for being quite pricey, particularly when contrasted to regions in the North. According to the Economist Intelligence Unit’s Global Cost of Living Index, the UK capital is the 17th most expensive city globally.

Despite this, there are numerous advantages to living or studying in London, such as the top-notch academic environment and culture. Nevertheless, London may be among the most difficult cities in the world for new settlers. If you are a student in London, you need a budget of between £1,300 and £1,400 per month, depending on your lifestyle and needs, for living expenditures, which include housing, transportation, food, laundry, study fees, and other personal expenses.

Here are some tips that will help you plan a London lifestyle under budget:

1. Find A High Paying Job

The high paid jobs in London have salaries that vary based on region, businesses, and experience. The bulk of the highest-paying businesses in the UK are in the banking and technology sectors, with Apple, Microsoft, and Google all topping the list. 

Management consulting businesses do even better, with Boston Consulting Group coming in third and Bain & Company taking the top spot. Before accepting a job offer, it is crucial to research salaries and makes comparisons, as compensation for the same profession might vary greatly depending on location. 

2. Avoid Transportation

Walking is a cost-effective and enjoyable method to see London that you can use throughout the academic year. It is among the greatest ways to see the city’s rich culture and some of its most well-known landmarks and it’s completely free!

Cycling is also beneficial to your health and is also free to use, but if you don’t have a bike, you can wind up paying more for transportation than you would if you did. While cycling is equally healthy and free, walking is a terrific way to experience London’s culture and some of its most well-known sights.

3. Look Through Before Confirming Your Accommodations

The right student housing in London is crucial for a happy, healthy mind. There are many different housing options, including university residence halls, private student housing, sharing apartments or homes, and renting a room in a family home. 

Finding the greatest match for your goals and budget requires thorough study and consideration of your alternatives. 

London costs per week for university and private accommodation are about double those of somewhere up North, although they provide the same living spaces. Compare several housing possibilities to find the one that best suits your demands and budget. It’s vital to keep track of the ones you like and you can do this in a spreadsheet. Long-term, this will reduce stress and save time.

4. Manage Your Bills

Smart metres are excellent for monitoring energy use and reducing bill costs. The majority of energy providers only want metre readings every six months. However, providing readings more frequently can result in more accurate bills. 

In 2021, a TV licence will cost £159 per year, and there will be a “telly tax” if you watch any live TV. Yet, you may watch catch-up or on-demand streaming services like Netflix without a TV licence if you are okay with giving up live television at home. Of course, the TV licence supports the BBC and its content; however, many consumers now only use on-demand services instead of conventional television. If you never watch live TV, this could be a way to save money on your bills.

5. Save On Your Dine Outs

Tesco is the greatest supermarket in London for grocery shopping since it offers the widest selection of food items at the lowest prices. However, most of our discretionary spending is still spent at restaurants and takeout because eating out is so costly in the city. 

It’s crucial to meal plan for the week and cook at home as much as possible to save money on food. Home cooking offers cheaper, healthier, and more individualised meals. Invite friends over for supper so you can cook together. This will turn cooking into a social activity and will save you lots of money too. The activity will be entertaining and involved; everyone will share the rewards while making enduring memories.

Find Your Life And Make It Affordable In London!

Due to its varied population, rich history, and active urban lifestyle, living in London may be a fantastic opportunity for personal and professional development. 

It provides a wealth of exploration and adventure opportunities. In this article, you’ve learnt some important tips on the topic of living in London on a student budget to let you enjoy the wonderful city that London is, while looking after your finances too. 

Guest Article.