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Sam

April 14th, 2022

Comparing the costs of living in Canada and London – can you afford it?

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Estimated reading time: 10 minutes

Sam

April 14th, 2022

Comparing the costs of living in Canada and London – can you afford it?

0 comments

Estimated reading time: 10 minutes

Before making the move from Nova Scotia to London, one of my biggest worries was pretty obvious: how the hell was I going to survive? I’d grown up in rural Canada, never lived in a city, let alone a global metropolis like London, I’d never really travelled outside of North America and, honestly, I was a bit of a homebody. Other than the fact my dad had lived in London when he was my age and I had a friend that went to LSE the year prior, I had absolutely no idea what to expect. Hopefully, this will help assuage your fears.

Accommodation

Like most people coming to London, I know one of your major worries is going to be your budget; if it’s not, well, it must be nice. With rent, I’ll just be blunt: it’s not going to be cheap, but that’s with any major global city. However, it doesn’t have to be insanely expensive. I’ve seen some people who are paying over $2 000 Canadian per month and others closer to $1 000. Personally, I’m living in the LSE Butler’s Wharf Residence and have zero regrets. It’s an incredibly efficient way to meet friends, it’s affordable, the people are great, and the location is bonkers. It can be reasonably affordable, it’s up to you.

Common expenses

Yet, what surprised me most was how cheap the majority of the common expenses are compared to home. Even with the conversion, groceries are at least half the price of what I’d normally pay (roughly $40/week), my phone bill is about a third ($16/month for “unlimited”), and my gym membership is less than half ($30/month), which was nice as those for me were my main worries. Oh, and alcohol at the shops is usually less than half the price of most of Canada. However, where things can get expensive is by going out for food or drinks; it will cost you a pretty penny, but I guess it’s like that anywhere.

Commodities

On the other hand, if you’re looking to buy commodities like apparel, shoes, or electronics, I’d recommend buying them before you come if you can, as most will typically be much cheaper in Canada. What’s £200 here will typically be around CAD$200. If you buy something new every six months, you’ll be fine, if you tend to enjoy shopping… good luck.

Public transport

What I didn’t budget for was public transport. One underground ride is about $4 and the bus is close to $3. Trust me when I say, it can add up quickly. For me, I try my best to walk as much as possible during the week and then use public transport on the weekends to explore London. Taking the tube to and from campus during the week and weekends can easily add up to over $200 per month if you’re not careful, which is not ideal if you’re on a tight budget like me. I’ve really learned to enjoy walking though, it helps that my walk to campus consists of walking from Tower Bridge, down the south bank by Shakespeares Globe, and across the water in front of St. Paul’s. I have to pinch myself sometimes.

International tranfers

Lastly, as it’s relevant, I haven’t found sending money to be an issue at all, but just be ready to wait one-three business days for your money to get into your UK account. It’s even better now that the exchange rate is the best it’s been in years. Personally, I have a Revolut account (an E-Bank) and an HSBC account, one for expenses and one for my “fun” budget. The process of opening both is very simple, so I would not stress too much about it before coming, just make sure it’s one of the first things on your to-do list when you get here.

So? Living in London CAN be affordable, but you must be somewhat diligent in your spending habits. The beauty of London is there are so many incredible things you can do for free or the price of the transport to and from. Yet, if you’re not careful like I was in my first semester, things can add up fast. Whether it was me becoming a bit lazy and taking the tube to and from campus three or four days during the week and then 5-10 times every weekend, going out to eat instead of packing lunches, or one too many pints at the pub after a day at the library, living here can get pricey. However, as always, it’s about balance. It took me a long time to find mine, but I found it. It just means I have to walk 15 000 steps per day.

About the author

Sam

A Canadian Human Resources MSc student with a love for Sports and Fitness, and a passion for making mistakes

Posted In: Student life

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