If you’re moving to the UK for work or retirement, it is essential that you comprehend the cost of living there. This includes housing, food, transportation, and more – all essential costs.
In London, for instance, a one-bedroom flat can cost anywhere from PS1,350 to PS2,000 per month. Conversely, northern cities like Sheffield offer much lower prices: in one-bedroom apartments, you’ll pay between PS550 and PS750 monthly.
Accommodation
Accommodation prices in the UK can differ considerably depending on where you live. London and the Southeast tend to be pricier than other regions of the country.
One of the best ways to save money on student accommodation is by shopping around for different options. Most universities and colleges have dedicated accommodation teams who can assist you in finding a place suitable for your requirements.
In the UK, halls of residence are the primary form of student accommodation. These are often managed by universities and located on campus to keep students close to their classes.
Food
One of the biggest expenses many families must manage is food costs. From weekly shopping trips to ordering takeaways, this expense can be difficult for some people to fit into their budget.
As the UK continues to battle a cost of living crisis, food prices have gone up at an unsustainable rate. If these increases continue, households in the UK could find themselves having to spend an additional PS788 per year on their shopping basket by 2023 – an amount equal to around PS12,824!
Data from the Office for National Statistics (ONS) reveals that food price inflation in the UK has reached its highest level since 1980, placing tremendous stress on retailers and suppliers.
Transport
When planning a trip to the UK, public transport should be taken into account. There are various modes of transport available throughout the country – from long-distance trains and buses to metro and trams.
Transport costs are a major concern for commuters and business travellers alike. Car commuting is often an integral part of working life, yet it also puts a considerable strain on the economy.
Buses are a popular form of transport in the UK, though they can be more costly than train fares. A one-way journey from London to Edinburgh on a bus costs an average of PS126 compared to just PS83 on board the train.
Bus services, unlike rail, are typically run by private sector operators under a franchise system. Unfortunately, Transport for London experienced an abrupt deterioration of their financial position before receiving emergency funding from the UK Government.
Entertainment
Britain is a cultural beacon, drawing audiences from around the globe to its theaters and cinemas. The country’s film industry also excels, with local movies grossing an unprecedented $1.7 billion in ticket sales last year.
Entertainment plays an integral role in the UK’s social fabric, and the government acknowledges its value as a way to boost morale and create a sense of normalcy. During World War Two, entertainment served as a popular distraction from the horrors of battle.
However, cost-of-living issues have put a damper on British appetite for out-of-home (OOH) entertainment. A YouGov study revealed that nearly two-fifths of Britons are participating less frequently than before the pandemic due to rising ticket prices and transport strikes. Furthermore, many are worried about contracting Covid-19; 12% even avoid attending OOH entertainment altogether due to fear it will make them unwell.
