5 money saving tips for people in London

money saving tips

London is hailed as one of the best cities in the world, however, it’s also known for being one of the most expensive cities in Europe and in the world. It is has some of the highest costs living on the planet, and as such, you need to learn effective tips on how to save money when living in London. In this article, we are going to discuss 5 money saving tips for people living in London;

  1. Get the Best Deals on Your Bills

Make sure you shop around for the very best deals for your fuel, phone and internet bills, and always review your various providers every year so as to see whether you are still getting the best possible deal. You should also consider paying your bills using direct debit because many utility providers usually offer discounts to people who set up direct debit with them. Remember, paying your bills annually instead of in stages will save you more money in the long run.

  1. Use Cheaper Transportation

In London, some means of transport cost a lot more than others, so it is imperative to carefully assess which mode of transportation is least costly in relation to the time you are traveling. If you’ve some spare time, consider using the bus instead of the tube. You should also consider traveling during off peak hours. This will not only save you more money, but it’ll also help you avoid hassle and bustle of huge crowds. Remember to get our Oyster card as it will make traveling in London much cheaper and easier.

  1. Keep Track of Everything You Spend

At times it is hard to know where your money goes. To avoid this, you should try to keep a spending diary for each week/month. You should write down every single thing you spend, from your bill payments to the smallest piece of candy. This will help you identify the unnecessary things you can cut back on and save some money.

You should also consider reducing your utility bills by replacing the light bulbs with energy saving bulbs. In addition, consider renting a shared apartment/house rather than renting your own flat. However, if you do not like sharing a house with strangers, consider moving to a cheaper neighbourhood away from central London.

  1. Buy Your Food in Bulk

If you are smart about it, you can save a lot of money by buying your food in bulk. Stock up on tinned and dry foods, and only enough fresh foods that can fit in the freezer. You can buy in bulk from shops like Costco, but if you are not a member, you can try small foreign shops that are in the neighbourhood like Indian shops, which sell food in bulk.

  1. Always Make a List Before Going Shopping

This may sound cliché, but making a list before going shopping will stop you from impulse buying and spending money on unnecessary things. You are more likely to spend much less cash when shopping if you have a clear idea of exactly what you want in advance.

Remember, when you are out shopping, don’t fall for “offers” that you actually do not need.

Conclusion

While some of the above tips will require some extra effort and planning, it will be worth it when you see just how much you can save. If you incorporate these tips into your lifestyle, you will find yourself with a lot more money than you currently have. For more helpful tips, visit badcreditsite.co.uk


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