Tips on how to afford living in London

words Al Woods

London has always been considered to be an expensive place to live, with the average house price sitting at £553,000 as of August 2022. This means you need to be a higher earner to be able to live as well as you could in other cities. Here are some tips to help you save your money and live a bit more comfortably:

afford living London

Live with others

The popularity of house-sharing sites such as Spare Room has boomed in recent years. Living with other people has changed from being a characteristic usually reserved for students into a way to cut down costs on rent and utilities, especially when buying your own property is not an option.

Living with other people can have a lot of benefits. Having company can significantly reduce loneliness as well as the cost of bills. Grocery shopping can be split, allowing the participants to cook together and form lasting memories. Why not open a savings account to keep that extra cash safe for something special?

With London being a melting pot of different cultures and backgrounds, you may find yourself living with people who can enrich your knowledge about different aspects of their lives.

Mindful shopping

With the cost of living soaring in the past year, everyone is feeling the pinch more than ever. A top tip to help you live within your means is to shop at cheaper supermarkets such as Lidl or Aldi. An average basket of food at Aldi works out cheapest at £77.21 but Lidl is not far behind at £78.57.

Another way to preserve your money is to check for reduced labels when food shopping. Although these generally mean shorter shelf lives, most products can be frozen and saved for another day.

Charity shops can be a great place to find bargains when it comes to clothing and homeware – plus you are helping the environment by recycling rather than buying new.

Enjoy free activities

London has an incredible number of things to do, with some of the best being free. If street art is something you enjoy, head to Shoreditch. There are some incredible pieces practically on every corner.

Looking for a different perspective of the city? It would be worth paying a visit to the Sky Garden, which boasts a three-floored atrium at the top of the Walkie Talkie Building full of plants and beautiful gardens.

One of the most Instagrammable places in London is further out in Walthamstow. This neon gem is God’s Own Junkyard, where you can spend hours walking around and snapping away.

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