When you are living in London, it can often seem as if it is impossible to live on a budget. However, it is possible to achieve your dream of living in the city without having to earn hundreds of thousands of pounds a year. So, here are some of the best steps that you can take to live on a budget in London.
Spread the Cost of Big Purchases
Even when you are living on a budget, there will always be high costs that you cannot always ignore. For instance, you may require a car to travel outside of London to a job or to see family. Rather than avoid these big purchases, you should instead find ways to spread their cost and split them into manageable chunks. Then, when you require a new car, you should consider looking for car finance leeds and across the rest of the UK to try and find the best deal for you, even if you have bad credit.
Consider a House Share
When living on a budget, you may not always have enough money to buy your own home or even rent one to yourself. Even though the cost of renting in London has fallen in recent months, this does not mean that the prices are at all cheap. So, it would help if you considered agreeing to a house share. House shares can allow you to split the cost of your rent and bills with others. You can often find house shares through dedicated websites, on social media, and through friends. Finding a house share through friends is often the best option as it will allow you to have some idea of who you are living with before you move in.
Look at Different Areas
Not every area of London is expensive as you might expect. So, rather than simply finding a house in the first area that you think of, you should consider looking around at the different areas of London to see if you can find one that combines low prices with a great quality of living.
Find Best Job Opportunities
However, even though living in London is expensive, Londoners also have a much wider choice of jobs than in the rest of the UK. Although competition for jobs is also greater, there is a great variety of open positions in London, and these rotate all the time, meaning that it should not be long until you find a job that interests you. Then, if you are struggling to keep within your budget, you should consider taking on a second job or even starting up a small business of your own.
Although living on a budget in London might seem impossible, this is not the case. Instead, it is incredibly feasible to do so if you are ready to make the right compromises, such as in terms of the area you live in and the type of house you live in.
