Living in London on a Budget: Balancing the Costs of Essentials

LondonLiving in London is not exactly as easy and picturesque as one might imagine it, especially if you are on a budget. It is widely known even amongst the locals that the England capital is one of the most expensive places to live in, and that is considering all countries in the entire world.

If it is your first time living in London or are an up-and-coming working person, balancing the cost of essentials is difficult. You need to have a plan and consider what you spend on carefully if you do not want to find yourself just barely getting by in the city.

The Rising Cost of Living

One of the main reasons London is fast becoming one of the priciest cities to live in is due to the rising costs of rent. This is something that, unfortunately, not many people can do much about; it is almost a given, especially if what you are looking for is a place that is very near where you will be working.

But, finding a cheap accommodation in London is actually possible if you know where to look. Location is equally important in your choice; while using public transportation is an effective way to reduce costs, you may end up spending more if the place you will be staying at is too far away from where you work.

Planning Early

Another way to lower down the costs is to buy your own groceries and prepare your own meals. It is very tempting to spend your first few days in London eating out and enjoying the drinks at the pub, but these can whittle down your money fast.

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Living alone for the first time is very liberating, but you should know where you stand and where your financial threshold is. If you know a close friend or relative who lives in the city, you may also try sharing a flat with them and agree to share or split the cost of accommodation. This might not appeal to some people, but it is an effective way to set a foothold in the city, if not just for the meantime.

Living in London while you are on a budget presents a big challenge, but it is entirely possible so long as you plan carefully and make smart decisions.