London is a truly unique and fun city, but it has a bad reputation for being too expensive. The high cost of living in Greater London causes all sorts of financial strains on visitors and residents. In fact, according to the This is Money website, London recently overtook Hong Kong as the world’s most expensive city.
Despite this fact, London is still one of the most visited cities in the world. The versatility of the area, including the opportunities found there, makes it the most popular city in the world. There’s something about it that makes people want to live and thrive in this vibrant British metropolis.
The Right to be Expensive
The truth is, London has every right to be expensive. According to The Independent, it has financial, cultural, and historic significance that very few cities come close to matching. Its diversity and vibrancy, furthermore, have attracted the rich and privileged from across the globe.
Some may say that you can only enjoy and thrive in London if you have enough money. This may be true, but it does not mean you cannot enjoy it if you are always on a budget. ChaseEvans.co.uk says London has plenty to offer, making it a city for everyone, especially those who love challenges. Surviving and thriving in the city is definitely possible.
The Financial Challenge
Londoners would agree that rental properties are their biggest financial challenge. Flats and apartments in the city are quoted per week, with prices depending on the location and condition of the rental space. You can prepare a careful budget, which allows for occasional nights out and savings, of course.
Living extremely cheaply is also an option. This is ideal for students or for those who have moved to the city recently. This means sharing a room with someone else or finding a flatmate. The overall household bill will depend on the number of people sharing the room.
Living in a city like London, especially on a budget is challenging. The key to thriving is being prepared and knowing the city better. After all, London wouldn’t have earned the title of “Capital of the World” if only the rich and wealthy can afford or enjoy living in the city.