We’ll tell you the factors that can determine your cost of living in London, what salaries are like, all the expenses you’ll have to take into account when planning your budget, and some great tips so you know how to save during your stay in London. Let’s go!
There are some variables that can affect your cost and standard of living in London. Let’s take a look!
As in most cities in the world, the neighborhood where you live can increase or lower your rent price, and London is no exception. So, the area of London where you live can significantly affect your total monthly expenses.
If you decide to live in a central neighborhood of the city, you will pay more than for accommodation with the same characteristics in a suburb. So, if your budget is tight, it’s better to choose the latter. You can always use public transport or even a bike, so you’ll save money without sacrificing too much quality of life.
London offers a wide variety of types of accommodation for international students who decide to live in the city for a while. You’ll be able to choose from a shared room to an apartment just for yourself, including student residences or a London family. The most economical option, without a doubt, will be sharing a flat or even a room.
If the place where you live has services nearby like public transportation, supermarkets, or even the school where you decide to study, you’ll save money almost daily, which will significantly impact your total expenses at the end of the month.
Both flight and accommodation prices can vary considerably depending on the time of year you decide to travel to London. For example, during the summer months, rents tend to be a bit more expensive, as that is when there is more tourism.
Lifestyle influences your monthly budget, and you’re the one who truly knows how and how much you like to spend, especially on non-essential things. So if you’re more of a homebody and spend your weekends at home watching movies under a blanket, you’ll save more than if you like dining out daily, shopping here and there, partying all weekend, or getting around the city by taxi, for example.
Time to break the piggy bank. To live the experience of studying and living in London for a season, you’ll need to have some savings and be willing to spend them. What’s certain is that the cost of studying English in London will be an investment that’s worth it. After all, it’s not the same to spend money on things as it is to invest in experiences that will stay with you for life.
To begin with, keep in mind that your initial investment will vary depending on where you are flying to London from, what visa you need, or the type of course you’re going to study. Let’s look at some approximate prices:
Keep reading because later on we’ll tell you what the monthly cost of living in London is, so you’ll have a clearer idea of the money you’ll need.
In London, the minimum wage depends on each person’s age and personal situation. For example, those under 18 are entitled to a National Minimum Wage of £4.62/hour, young people aged 18 to 21 to a minimum wage of £6.56/hour, and those aged 21 to 23 will earn at least £8.36/hour. From age 23 onwards, the National Living Wage is £8.91/hour.
So, for a young person over 23 working 40 hours a week, the minimum wage is £18,532.80 per year. That’s a monthly salary of £1,544.40 — a minimum wage well above the average in other countries like Spain.
Also, people in the UK usually earn more than the minimum wage. For example, the average salary in 2023 was £40,326.59 per year, which equals around £3,400 per month.
In London, you can spend as much as you want. Although it’s an expensive city, your lifestyle will be a decisive factor in calculating your monthly budget to live in the English capital. For example, if you want to live alone in an apartment, your monthly expenses will be considerably higher than if you share a room with a classmate. If you’re picky and love buying branded items or eating quality sushi every day, you’ll spend more on food than if you hunt for the best supermarket deals. That’s how it goes…
To give you an idea, here are some approximate prices so you have a clearer picture of how much your monthly budget might be:
A monthly grocery shop in London can cost around £165. Not luxurious, but you won’t go hungry either.
If your school or work is nearby, and you don’t live far from the center, you can get around by bike without any issues. If not, you can use a public transport card, which will cost about £150 per month.
Accommodation prices in London vary greatly depending on the type of housing. You can rent a room in a shared flat for around £500 a month.
London offers endless leisure activities, so you can spend as much as you want — it’s up to you. On average, our students spend about £175 per month on leisure activities.
A phone plan with internet included can cost about £25 a month. For other expenses like water, electricity, or gas, you can add another £60 per month.
In total, you could cover your stay in London with a monthly budget starting from around £1,100.
Do you now have a better idea of the budget you need to start your adventure in London? Did we leave something out and you need more information? No worries — that’s what we’re here for: to help you.
Contact us and we’ll assign you a Dingoos Guide to advise you personally and answer all your questions!
Amanda De Mingo, Events Manager at Dingoos, shares how every activity she organizes turns your international adventure into a unique experience filled with fun, learning, and friendships that last forever.
