London is constantly hailed as one of the best cities in the world and it definitely has its highlights. Between historical monuments and museums to social activities available at all hours, London is never shy of things to do or visit. As a result of all the options, London life can be expensive. Learning to manoeuvre around the city in a cost effective manner whilst enjoying your life can be a struggle but here are 7 ways to save money and still enjoy living in London.
Buy a travel mug
Purchasing that hot drink every morning may not seem like a great expense but before you know it you’ve spent over £500 on hot drinks that could have been made at home. Buying a hot drink four times a week that costs £3 per cup on the basis of buying it for 48 weeks out of the year will cost you £576. Buying a travel mug online that you can reuse constantly to make a drink from home before you head out for the day is much more efficient than spending your hard earned money everyday. Give yourself five extra minutes each morning to make the beverage that’s going to save you £500 extra each year.
Use websites to find deals to plan activities
It is very traditional of us to decide to plan something then go online and book an activity to do with friends at full price. However, these days there are various websites you can use to have fun and be more cost effective. Websites like Groupon, Wowcher and lastminute.com always provide activities you can do at discounted prices. Even if you don’t want to join their email subscription service, add it to your calendar to check up on the latest deals at your own avail every so often. TimeOut also has great things you can do in London at a cheap price, it’s worth book-marking these pages.
Avoid renting in central London
If you live at home with parents or guardians, thank your lucky stars. Use that time at home to act as if you do pay rent and put some extra money away towards your future. If you don’t then it is in your best to stay out of the inner circle that is London. According to Homes & Property, rents are rising by up to 21% and the cheapest borough to live in is Bexley.
Think about lunch before lunchtime
Starbucks, Pret, Sainsburys, Tesco, the list is endless. All of these food outlets are ready at the tap of your card when you haven’t prepared your meal plan in advance. Getting lunch outside of home everyday can be costly so do yourself a favour and plan at least 3 meals a week. The cost of ingredients is usually cheaper on average than it is to grab lunch from the nearest convenience store. It’s worth thinking ahead and preparing something to eat. Another advantage is making your own food means you’ll know exactly what it tastes like.
Take cheaper transport
Between train, tram, tube, bus, uBer and cycling, there are so many ways to get to your destination. However, some means of transport costs more than others so it’s important to assess which journey is the least costly in connection to the time in which you need to be at your endpoint. If you have spare time then consider getting the bus, you may be able to get a seat and get a chance to read a book or answer some emails. In future, always consider the most cost effective option and plan ahead.
Make a list
You are likely to spend less money in a store when you have a good idea of what you want beforehand. It’s always worth making a list, not just for food but for fashion items too. Having clarity on your wants and needs can help prevent impulse purchasing.
Utilise ‘Happy Hour’
In the event you are meeting up with a few friends, it’s worth going out when the atmosphere is great and the drinks are half price. More importantly, some food items may be discounted at this time so it’s worth double-checking when Happy Hour is so you and your friends can have a great time on a friendly budget.
Whilst some of these methods may require extra thought and organisation, it’s definitely worth putting in the effort to save some extra money. The effort you have used to save additional income can be transferred into additional funds you have for your next investment.
This post was written by Bola