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Managing your money

Some useful information

London is an expensive city. For example, in a recent cost of living survey, London was found to be the 17th most expense city in the world. Dublin came in at number 42 and Belfast at 1429. Although some things may be less expensive than in other cities in Europe, housing and travel costs are among the highest in Europe.

The Financial Service Authority (FSA), the UK’s financial services regulator, is responsible for many aspects of your bank’s business with you www.fsas.gov.uk

As it’s London, it was very expensive and many places needed more than one month’s rent as a deposit as well as the month’s rent itself, so you need to be very financially secure before you move!

Cost of living

Most banks in the UK ask for proof of identity and proof of address in order to set up a bank account.

Basic living costs (“low cost but acceptable” budget) for typical families without children living in London (£ per week)

The Greater London Authority states a wage earner paid less than about £7.25 an hour will be living in poverty10.

Between rent and generally living in London, my professional salary does not add up and it is a constant battle.

Couple with no children

Single no children

2ft

1ft 1pt

2 pt

1ft

1pt

ft

pt

Shopping basket costs

125.88

125.88

125.88

125.88

125.88

97.86

97.86

Housing

167.00

167.00

167.00

167.00

167.00

94.00

94.00

Council tax

25.16

25.16

25.16

25.16

25.16

18.87

18.87

Total transport costs

57.09

57.09

57.09

28.55

28.55

28.55

28.55

Childcare costs

0.00

0.00

0.00

0.00

0.00

0.00

0.00

375.13

375.13

375.13

346.59

346.59

239.27

239.27

Total costs

24

Moving to London; A Practical Companion for Irish People  
Moving to London; A Practical Companion for Irish People  

A helpful, practical and comprehensive guide to Moving to London for Irish people. Published by the London Irish Centre in May 2012.

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