A cheap week in London

Budgeting in London

It is easy to spend too much money in this city.  According to the Mercer Cost of Living Survey last year, London was up there as the second most expensive city to live in; only two years ago it was seventh. But London is also the most culturally diverse place I have ever been to, the thriving arts communities spread from east to west and tourists may find that one week here is not nearly enough, there is just so much to see and do.

So, how can we get the most out of this city without blowing the budget?  Well, the good cheapskate that I am I decided to offer my researched services and whether you are a tourist or a resident hopefully these tips will lighten your pockets.  Below are also some tables so you can judge just how little you can spend on a week in London. 

The Tips…

Accommodation and Transport

Obviously one only has a limited amount of control over how much they spend on accommodation and travel, so gulp and prepare to pay more than you intended. The best thing to do is to live near your work and buy a bike, walk or take the bus.  The tubes lose their novelty value when you realise you are paying over £20.00 to be pushed up against someone’s armpit in the height of summer. 

Rent varies; £100.00 will get you your own room near good transport links.  If you want to share your room you can get this down to £60.00.  For rental offers check out the gumtree and net-lettings web sites to gauge rental costs in different areas. 

For those just visiting, £12.00 a night seems to be the going rate for inner city hostels, and there are many of them.  This is your biggest expense though so get talking to people before you leave home and see if you can find someone living in a dosser-friendly house.   Contributing to their kitty will be easier on your pocket and theirs.

Food and Entertainment

This is usually up to the individual. Some people are happy to eat tinned soup during the week if it means they can have cocktails on Saturday night.  Since moving to London my meat intake has dramatically reduced.  Not only have I since discovered that this is no bad thing for my health, but it has also reduced my grocery bill. Also look out for the local noodle restaurant in your area where meals can be under £10.00.

If freebies are what you are after head to London’s weekend food markets just before closing and it is amazing what you can pick up, (Bread stalls tend to be the best) and vary your diet depending on the supermarket discounts. When going out it is also a good idea to only take in cash what you can afford to spend. That way you won’t find any bar tab surprises on your credit card bill.

Overview of Weekly Costs in London (see tables for details):

Accommodation: £65 – £100*Transport: £2.40 – £21.40Food: £20 – £70Entertainment: £15 – £60

*I haven’t included bills; everywhere varies depending on how many people are in the house and the Borough the council tax falls under.  Ten pounds a week is not a bad estimate though so add this on to your budget if you are living here long term. 

Under £100.00 (just)