Cost Of Living In UK!! Check Out These Parameters!!

Depending on where you live and work in the UK, it’s likely that someone is making more money in the same role. It can sometimes seem like a real postcode lottery. But, this doesn’t necessarily make them better off than you. There are several factors involved that decide the cost of living. The cost of living looks at everything from property prices, and taxes, to groceries.

Once all of this has been paid up for the year, you’re left with your disposable income. But it isn’t always so black and white. In some cities, if you earn the average wage, you’re working to simply meet your essential spending. Average wage leaves you with nothing in the way of disposable cash come year’s end.

Average Rent in the UK

Rent is without a doubt one of your largest expenditures. Many people even spend half of their income on it. Depending on your area, your needs, and the number of people you are living with, the rent in the UK varies. At £1,007 per month, the average rent in the UK in 2021 will be at an all-time high. Due to some cities’ high rents, such as London, the average is slightly more on the high side. Therefore, if you only take the average into account, you won’t have a good picture of rents across the UK. The type of household or the number of occupants affects the rent.

The average rent in the UK is £725, which is almost 30% more expensive than a single household. For a couple without children, the average rent is £870. The typical rent for families with kids rises to £941. The average rent is a tad lower for single people sharing a room.

Transportation Costs in the UK

The majority of public transit in the UK is controlled by private businesses. Public bus travel in London will cost you £1.50 per hour. London has the highest average monthly commute cost of any city in the world at $186. Because private companies once again own trains, they are also pricey in the UK.

Wondering About How Many Specific Things Cost in the UK?

A sizable part of your spending will also be allocated to other particular things. Which may not seem like much on their own but add up to your monthly costs. You should include the following exact expenses in your budget:
 
A pub or restaurant lunch costs £12 (about USD 15.50).
Fast food restaurant combo meal costs £6 (USD 8).
Milk costs £1 (USD 1.32) per liter.
£6 (USD 8) gets you 1 kilogram (2.2 lbs) of chicken breast.
Jeans cost £59,18 (or $78.10).
A half-liter of beer costs $1.72 (USD 2.27).
5-liter water bottle £0.95 (USD 1.25)
Produce costs $1.32 to USD 2.64 per kilogram.

Affordable Cities to live in the UK

The following are a few of the cheapest cities in the UK for international students:

  • Durham
  • Belfast
  • Leicester
  • Stirling
  • Lancaster
  • Cardiff
  • Newcastle
  • Coventry
  • Warwick
  • Lincoln
  • Nottingham
  • Liverpool
  • Manchester
  • Birmingham

Tips that can be useful to save money in the UK

1. Share a flat

Rent in the UK can represent up to half of your monthly budget due to the high cost of housing there. To get around this, sharing a flat is a common practice in the UK.

2. Getting a local bank account

When you have a local bank account, everything might become quite simple. Once in the UK, you can easily obtain one; all it needs are a few documents. Get a place to stay and the paperwork you need to open a bank account locally first.

3. Try to reduce your household bills

The general utility bills like electricity and heater-cooler can be reduced by managing the usage. Like in winter, rather than always turning up the heat, you can try to wear some warm clothes.

Comparison with Indian Cost of Living 

Without rent, the expected monthly expenses for a family of four are 215,377.78 ($2,366.43£).
Without rent, the projected monthly expenses for a single individual are 62,277.21 (684.26£).
In comparison to India, the cost of living in the UK is typically 144.93% greater.
In comparison to India, the average rent in the UK is 395.30% greater.

Posted by- Karuna

Source-abcfinance.co.uk