Cost Of Living In London: All You Need To Know

Cost Of Living In London: All You Need To Know

In this article, you will discover how much it costs to live in London, but before that, you should know that the minimum wage in this city is fixed at 8 pounds per hour worked and that 1 pound is currently equivalent to 1.14 euros / 1.27 US dollars.

Also, never forget that London is a vibrant and exciting city that offers limitless possibilities and opportunities and as one of the main global cities in the world. Tradition isnt out of the city as the inhabitants have cultural diversity with opportunities to study, live and advance in career.

London is one of the most expensive cities in the world but don’t let that phrase discourage you as you can also cut your coat according to your size, this is why we have taken our time to make this wonderful writeup.

Having gone through the introduction and without wasting much of your time, let’s see what the cost of living in London is.

Cost of living in London: Accommodation 

Staying in London can be more expensive or cheaper depending on the area where you are going to settle, and if you are going to live alone or with more people.

I always say that the best option to stay in the English capital is to rent a single room, which will have a price that will be around 350 to 400 pounds a month.

On the other hand, if you are accompanied by your partner or friend, you should consider the possibility of renting a double room to reduce expenses. In that case you would have to pay about 500 and 550 pounds each month between the two.

I must also add that the costs of electricity, water, council tax and gas are generally borne by the landlord. If this is not the case, you should know that you will have to add an additional £ 70 to the account.

Mind you, we have some cool platforms in which you can find a shared room or any form of an apartment in London, they are; SpareRoomIdeal Flatmate and Spotahome.

Read Also: Cost of Living in Amsterdam 

Cost of living in London: Market and food

Another expense that we have to take into account is that of food. Probably we all agree that English food is not the best in the world, but we have no other choice if we want to live in London.

I estimate that you will spend about £ 120 a month on expenses derived from food, and that counting that you make food every day at home. If you go out to lunch or dinner frequently, that number will increase, since London restaurants are not cheap.

London’s high cost of living affects the price of food you buy from the restaurants or from market, but it is always advisable you cook as it is a little bit cheaper.

If you do not have much money, I recommend that you do your shopping in Lidl, since it is the cheapest supermarket there. Another good option for those who do not want to overspend is the Asda supermarket chain.

Food and groceries are no exception to London’s high cost of living. But remember that spending on food purchases varies from person to person, depending on your eating habits. But, in general, you can save a lot of money by shopping at cheaper supermarket chains like Tesco, Lidl and Sainsbury’s.

See below the average costs of some essential items:

ProductPrice (in pounds)
1 liter of milk0.96
Granola bread (500 grams)1.09
1 kg of rice1.28
12 eggs2.06
1 kg of cheese6.71
1 kg of chicken breast5.98
1 kg of meat8.58
1 kg of apple1.88
1 kg of banana1.14

Cost of living in London: Transportation

Everyone knows that public transport in London is optimal, and especially its bus network, which can take you anywhere in the city. However, it also has a slightly exaggerated cost. A monthly pass to get on the buses unlimitedly for a month will cost you £ 81.

On the other hand, if you want to get a monthly pass that allows you to get on any means of transport located in the city, you will have to scratch your pocket a little, since it costs from 126 to 148 pounds, depending on the areas you want to cover.

Cost of living in London: Entertainment (Leasure and Fun)

The first fun-related expense is television, since watching TV in London is not free. You have to pay around £ 145 a year to get a TV License.

Going out for a beer with friends will only cost you around £ 4, while movie tickets will cost you between £ 8 and £ 13.

Joining a gym in the English capital is not very expensive, since for less than £ 20 you can get your monthly pass at a low-cost gym.

The cost of living in London will depend a lot on the lifestyle you lead, but I recommend that you do not come with less than 2,500 pounds to meet the expenses of your first 3 months here, which I calculate is the time it will take you to find a job.

For free entertainment, visit the parks and museums and you can browse the Internet to search for free events in the city (they are always happening!).

Cell phone plan

You should know that you can’t move to another city without having a local cell phone plan. The Billmonitor has a quick calculator that will analyze your needs and find the best cell phone plan for you. The cheapest ones cost about £ 19 monthly.

Academies

As stated earlier, The average monthly fee for gym and fitness clubs in London is around £ 20 – £ 40. To obtain discounted rates, two franchises indicated are Fitness Space and Pure Gym, which are the most basic gyms.

Now that you have been updated about the cost of living in UK, how about starting to prepare yourself to have your dream experience in one of the most outstanding and incredible cities in Europe? 

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