Livin’ La Vida London … Frugally!

There’s no way to live La Vida London frugally, you say, there just can’t be! Well that’s where you’re wrong. Despite London’s fame as the city where businessmen’s pockets are paved with gold (from exploiting the city’s population, of course), London is above all a place of opportunities.

There is the opportunity to absorb culture, the opportunity to explore an astounding night life and, if you know where to look, the opportunity to live frugally.

So, whether you’re thinking of moving to london or are already living there, here are a few tips on how to cut down on costs and live La Vida London frugally.

Know your finances

First, before you do anything else, use a wage calculator on sites such as moneyvista.com to calculate your salary to work out exactly what resources you can draw on from week to week.

This is necessary for a strict budget and strict budgets are especially important in London because of all the unforeseen costs that can start to creep up on you. Budget carefully on a weekly basis and allow a certain amount of money for these unforeseen costs.

Avoid the centre

Accommodation-wise, if you do not already live in London, look for housing away from the centre. Find somewhere near a tube or rail station and generally the rent difference will be far greater than the travel cost. If you find somewhere at the end of one of the main bus routes, you could get into central London each day for as little as 1.40.

Limit leisure spends

Entertainment can be one of the biggest and most unexpected budget-drains in London. If you’re going out, budget beforehand and limit what you’ll let yourself spend. Alcohol prices can be shockingly high in London so consider throwing dinner parties at home instead.

You can easily cut costs with other forms of entertainment: be on the lookout for discounts and voucher offers constantly. Many theatre box offices offer half-price tickets to those who buy on the day while a careful internet search will find you dozens of two-for-one restaurant offers. There are plenty of free attractions in London too so why not give them a look if you’re really interested in looking after those pennies.

Plan journeys in advance

Without careful planning, transport costs can really mount up in London. Plan your journeys in advance with the TFL Route Planner to find the cheapest routes.

If you have to make a journey regularly, or if you simply travel a lot, look into weekly, monthly and even yearly passes. Despite the lump sum, these can be excellent ways to cut down on costs in the long-run.