What’s it like living in one of the most expensive cities in the world? Are you lving in London now? We’d love to hear your thoughts on this issue; feel free to comment below and let us know your London living situation.
The minimum wage dilemma
Recently, the Huffington Post UK published an article about the minimum wage in London not being enough to actually live in London. A few days after the articles publication, the government approved a 3% increase in minimum wage from £6.31 to £6.50. The new minimum wage will be introduced starting in October, 2014 and will affect over 1 million workers. But still, is this 19 pence increase enough to survive in London, where the living wage is £8.30? There’s a bit more hope for the future as Chancellor George Osborne has set a final target of £7 minimum wage per hour.
When you live in one very expensive city
Compared to New York City, Barcelona, Beijing and Paris, cost of food and housing is more expensive in London. The average rent for a flat in the city of London costs almost twice as much as another city in the UK; with average rents in the UK being around £665, while in London, a grand average of £1,516 per month. As transportation and energy costs rise, many Londoners find themselves in a struggle.
London is known for its museums, double decker buses, markets and football. But many of these don’t come cheap. It’s Friday night and the last thing you feel like doing is sitting at home in your pyjamas. You decide to go for a movie, or maybe slip on a dress or a nice shirt for a drink, but careful, that little glass comes with a big bill. The average price for a beer in London is about £4, and a cocktail, almost £12. A date night at a restaurant could cost you £25 per person. Make sure you have a few snacks before leaving the house. You’re probably beginning to think that those pyjamas weren’t such a bad idea after all.
Keep those pounds in your pockets!
Don’t stress. The cost of living in London is quite outrageous, but there are ways to get by. Remember, where you chose to live is your choice. If you’re working at a coffee shop making £7 an hour, perhaps living in the city isn’t the best idea. Instead of taking the Tube, invest in a second hand bicycle and use it for short trips around the city, pack a lunch to work and on those extraordinary sunny afternoons, take a book to Victoria Park or London Fields and laze the day away. There are always ways to cut back on costs without cutting back on fun. Be creative, life is a lot livelier outside the movie theater.