London is one of the most expensive places to live in the UK, and indeed the world, making it hard for Londoners to save money.
With many experts recommending that you save between 10% to 30% of your income to cover everything from emergencies through to items you want, it’s important that you find ways you can put money aside, and that means cutting down on your general expenditure.
For Londoners who are keen to save more money, we’ve got some great tips on cutting down your travel costs to leave you with more disposable income to save, and some to spend enjoying this beautiful city!
Walk Wherever Possible
Living in London, where there are so many public transport options, it can be easy to get complacent. If the journey isn’t too long then try walking it, as this will save you money and help you to keep active.
Lease A Car
Owning your own vehicle can be expensive but hiring one can give you the freedom of your own car without the costs. You’ll only have to pay the monthly fee for the car and for petrol when you lease one, and with so many different models to choose from there’s an option for everyone. For those that want to save the planet, there are even leasing with low emissions options, so that you can reduce your carbon footprint and still use your own vehicle to get where you need to be.
Get On Your Bike
For medium and short journeys, try using one of London’s many cycleways, as bikes are both low on emissions and cheap to own and run. You can even take them on most public transport networks, so you could cycle part of your journey and then travel on the tube or train for the rest.
Buy A Travel Pass
If you’re taking public transport regularly then it’s cheaper to buy a travel pass than individual tickets. There are several different options you can choose from, so take the time to check out the travel passes you can purchase and the differences between them so that you can work out which option will save you the most money.
Take Up Running
For health-conscious commuters, running is a great way to get in shape and get around at the same time. As long as you’ve got somewhere to change and shower afterwards you can easily run across London and then go about your day safe in the knowledge that you’ve saved money, done your bit for the planet and helped yourself to stay active all at once.
During certain times of the day travel is cheaper as transport is less busy, so try to travel during those times if possible. This isn’t always an option, particularly if you’re travelling to work, but if you do have the choice of when you travel then try to pick off-peak times so that you can save money and enjoy a less crowded and more relaxing journey.