The UK is one of the most expensive countries in the world to live in. However, it offers a big diversity of university courses that will leave students well-prepared to start good careers. Plus a degree from a great university in the UK can almost guarantee a high-paying job anywhere and everywhere in the world.
Studying in the UK is not cheap and, after you graduate and get your dream job it can still be an expensive place to stay even with a high-paying job. That’s because the taxes imposed on employees is also very high and depends on their income, which means it can get higher the highest the income gets.
It should also be taken into consideration that the UK has a lot of history and a beautiful culture to explore, which means you won’t run out of museums and galleries to visit quickly. You can see now that it’s worth sacrificing a bit more money just to be surrounded by all that in such a beautiful country.
However, you are entitled to a good financial life and a decent lifestyle that can still be achieved with the help of good financial decisions and smart money management. We are here to help you with 4 ways to save money when you are living in the UK.
4 ways to save money when living in the UK:
You won’t be short of ideas of where to grab a quick lunch or get dinner. There are so many restaurants specialised in so many different cuisines in the UK, that it makes it possible to eat food from a different country every day of the week. But these places are not always cheap, especially in big cities.
One way to counteract this is by knowing that the UK has the initiative to cut back on waste by reducing the prices of the meals at the end of the day. This is perfect because we tend to go out to eat more during the nighttime.
The same applies to supermarkets. If you go to a supermarket at the end of the day, it could be after a full day of work and you will notice that the normal price tags have been replaced by new yellow tags that display a much lower price for that same product. Especially if that product is about to expire and cannot be stored for the next day by the supermarket.
Besides getting your timing right with these daily discounts you can check discount websites that announce places that are offering coupons. This could be for supermarkets or restaurants or even special discounts for places that rarely present few.
2. Choose your transportation wisely:
There are countries where transportation is cheaper and the British are aware of this. If you live in a big city, maybe postpone the idea of getting a car as it’s not always essential. Often times, there is a very good offer on public transportation in the big cities, the problem is that it can still be expensive. But not as expensive as buying a car. Well it depends on what type of car you get.
If you still prefer to travel by car, don’t fall into the mistake of calling a taxi or cab, and send for an Uber instead. There’s also the option of using a monthly ticket that you can get and that could be cheaper than swiping your contactless bank card whenever you want to take the tube or bus. Bear in mind that buses are the cheapest type of transport there.
Also don’t forget that getting a yearly pass if you need to catch the same type of train or tube daily or weekly, can be a lot less expensive than buying a ticket every single day.
3. Have someone to share your flat or house with:
Housing in the UK reaches very high prices and, for someone who’s looking or trying to save more money, sometimes the rent expenses are a big issue. If you live by yourself and are not planning on changing that situation any time soon; by finding a special someone or starting a family, then you can always ask a friend to live with you and share the rent. Or, you can even ask a close colleague at work if they would like to share a house with you.
Let’s be honest, if they are living alone too chances are, they are struggling to save money as well. This way you could divide the expenses and both of you will be able to save extra money. It could also be very fun to have a housemate, especially during the difficult times we are living in.
We are forced into isolation because of the never-ending pandemic and are all only talking with people through a screen. This can become very difficult and depressing, if you live alone. However, if you live with someone then at least you can see someone in the flesh and isolate together with another person rather than completely loose contact with the outer world.
4. Compare the prices of energy and internet suppliers:
We can’t live without electricity or internet anymore, so that’s one expense that we cannot cut out o the list of our necessary monthly expenses. But what’s stopping us from looking into the prices and deals that other suppliers are offering, to see if we are spending our money wisely? Nothing.
There are even websites that help you compare, so you don’t have to jump back and forth different tabs. It’s normal for our chosen supplier to create new deals that weren’t available when we joined, so you could try to make an upgrade with your supplier or just change to a different one.
A big advantage is that to retain their existent clients, some companies offer discounts and very appealing deals; to those who never used their points. So, check and see if you accumulated some points you’re not aware of and how you can benefit from them. You just need to have all of this in mind and you will surely benefit if you stay vigilant and smart.