It is easy to understand why so many people want to live in London. Obviously, as a global business hub, this is somewhere that many people come to work, but London also has spadesful of culture, attractions, and character. It is also incredibly expensive when it comes to renting, and the cost of living, so many people struggle to afford to live in and around the capital. There are a few handy financial tips for anyone considering moving to London, which could make it easier to manage and allow you to enjoy all the benefits of living in this fantastic city. Read on for a few essential tips.
Choose an Affordable Area
There are some areas of London which are incredibly expensive to rent, but when you look at the outskirts, you will find that there are areas that are much more affordable. A few good options include:
- Peckham
- Hackney
- Walthamstow
- Tottenham
- Forest Gate
House Share
You can significantly reduce the amount that you have to pay for rent and bills by sharing with others. There are always places looking for roommates, or if you have someone to live with, such as a partner, then you should be able to find somewhere together or even with a larger household.
Walk/Cycle Where Possible
Walking or cycling is a fantastic way to get around London because it is free, an excellent form of exercise, and allows you to get your bearings and soak up the atmosphere.
Make Food for Yourself
Food can be a significant cost, but you can make huge savings simply by purchasing affordable ingredients from the supermarket and making your own breakfast, lunch, and dinner. It is hard when there are so many takeaways, restaurants, and cafes, but these can be occasional treats when you can save through making food for yourself, and you can find all kinds of excellent recipes from places like the BBC.
Have Affordable Nights Out
One of the greatest appeals of living in London is that it has a legendary nightlife with so many incredible pubs, bars, restaurants, theatres, concert venues, and more. You can save money on nights out by having drinks at home, visiting friends in their homes, finding affordable places or by getting a loan from CashFlex, and by limiting yourself to occasional nights out. Additionally, you can often look online for places that have deals, promotions, and discounts to take advantage of.
Payday Loans
If you find it hard to make ends meet one month, then you should look into payday loans from Cash Lady. It can be a quick way to get your hands on some money to manage until you get paid, which means you can still pay important bills.
Supplement Your Income
Many people living in London find that supplementing their income is a great way to improve their financial situation and a way to allow them to enjoy living in the capital even more. There are all kinds of options for ways to do this, such as:
- Bar work
- Part-time jobs
- Online work
- Gig economy
London is a fantastic city to live in with something for everyone, but it can also be incredibly expensive and hard to afford for many. The above tips will hopefully help you to live comfortably in the capital and enjoy all that it has to offer.
