So, you’ve decided to take the leap and swap the Southern Hemisphere for the bustling streets of London?
Congratulations on embarking on this exciting journey! You may have heard about how expensive the cost of living can be in London and if the figure at the bottom of your bank statement does not fill you with confidence, you may be wondering… How much money do I actually need to make it to the UK and get settled in?
Everyone has their own preferences as to how much money they personally need to live and set up in London. As a rule of thumb, we recommend having around $10,000 when moving to London – that’s Aussie/New Zealand dollars, not British pounds. If you can save more than $10,000 even better! So unless you’re partying like Leo after winning an oscar, you won’t hit the end of your $10k before then.
You will also need to consider when you will be starting work! If you are keen to hit the ground running and working with anzuk as a teacher or Teaching Assistant, you will start getting paid shortly after arriving, as its weekly pay through anzuk. If you are doing some travel beforehand or wanting to take some time off before you get back into working, that is also something else you will need to factor in.
Let’s break down the essentials when it comes to moving to London!*
* per month
Accommodation:
The most expensive up-front cost you’ll have to pay for when you arrive, is accommodation. We recommend booking some temporary accommodation for a few weeks when you first touchdown (AirBnB, Hotel, Hostel, Sublet etc) whilst you start your search for a more permanent long-term rental. Again, it will depend on where you are wanting that short term accommodation and what type of accom but a rough figure would be around $1000-$2000AUD for 2-4 weeks.
When it comes to a long-term rental, generally you will have to pay a bond (4-6 weeks of rent) and the first month of rent upfront. If you’re wanting to live in a popular area of London such as Clapham, Islington or Hackney, where a room may cost around £800 per month for the room, you’ll be paying an upfront cost of £1600 – £1900 to secure the lease – that’s around $3500AUD straight away.
Total for accom: $5000AUD (approx)
Food & Drink:
We’d budget for around $40AUD (£20) a day for food and drink. This covers groceries, some eating out and going for a drink every other night when you first arrive. You can keep costs down by buying some breakfast supplies, cooking your own dinners and packing your own lunches. The UK are notorious for a meal-deal which typically cost around £4 and include a main (sandwich, salad or pasta salad), a snack (crisps or chocolate) and a drink – which is an absolute steal!
A coffee will also set you back around £3-£7 depending on what your order is. So, if you are a coffee lover, ensure this is built into your budget.
Total: $1200AUD
Be sure to top this amount up, if you are planning on going out for meals to catch up with friends or have a few pub nights in your first month!
Transport:
Getting to work and around London can be expensive and add up quickly! So, if you don’t like the idea of walking everywhere make sure you factor about £10 ($19AUD a day) on public transport. You can buy weekly or monthly passes for your Oyster card which can make the daily travel cheaper too.
Zones 1-3 7-day pass: £47.90 ($91AUD)
Zones 1-3 Monthly pass: £184 ($350AUD)
OTHER:
- Essentials for setting up your new flat such as linen, towels, household items – around $400AUD
- Play tourist – Visiting all the cheesy landmarks when you first arrive – approx $200AUD
- Going out – this could include going to a pub, a club, a nice restaurant, going to a movie etc – approx $150-$200AUD a week
- SIM card: Order your sim before you head off through Giff Gaff and get up to £15 bonus credit which will start you off well.
Total: $1200AUD for the month
GRAND TOTAL FOR 4 WEEKS: $7800AUD
There you go! $7800 will last you around 4 weeks without scrimping too hard on budgets. Anything more than $8000 just gives you a longer buffer and a bigger safety net. However, for those struggling to save, then you can feel confident travelling to England with around $8000 in your bank account. This does not account for flights, other travel or visas so do keep that in mind too.
If you are interested in making the move to the UK, click here for more information and to get in touch!
Note: This blog was last updated with the latest prices in 2023, make sure to do your own research on prices as we cannot guarantee these figures are correct.
FAQs
How much money do I actually need to make it to the UK and get settled in? As a rule of thumb, we recommend to travel to teach in London is $10,000 – that's Aussie dollars, not British pounds. If you can get $20,000 even better but unless you're planning an extensive holiday you really won't need much more than that.
How much money should I have before moving to the UK? ›
As a rule of thumb, we recommend having around $10,000 when moving to London – that's Aussie/New Zealand dollars, not British pounds. If you can save more than $10,000 even better! So unless you're partying like Leo after winning an oscar, you won't hit the end of your $10k before then.
How much money do you need to move to London from NZ? ›
So all in all, before you move to the UK you're going to need potentially $3,000 to $4,000 for the cost of your visa and health care. Once you're there you might want to have $2000 available to cover rent, bills and bond.
How much does it cost to move to England from the US? ›
How Much is the Cost of Moving from the US to the UK? The average cost of moving from the US to the UK is typically around $6,300 to $14,800. These estimated costs can be applied whether you're moving to England, Scotland, Wales or Northern Ireland, as there isn't a significant difference in pricing.
What salary is needed to live comfortably in UK? ›
The answer is that you need an after tax (net) income of £49,700 in order to live comfortably in the UK as a couple, or £67,554 for a family with 2 parents and 2 children. This figure is based on studies conducted by the Pensions & Lifetime Savings Association and the Child Poverty Action Group.
Is it cheaper to live in the US or UK? ›
Both nations have a cost of living that varies greatly depending on where you live. However, you can expect that there will be a higher cost of living in the US than the UK. Data shows that the cost of living is 0.49% lower in the UK than the US. This difference is even greater in cities that are expensive to live in.
Is it cheaper to live in NZ or UK? ›
The cost of living in New Zealand is 6% less expensive compared to the UK. While this isn't a significant difference it is still noticeable. As you can see from the examples given above, many things in New Zealand are more expensive compared to the UK.
What salary do you need to move to London? ›
The cost of living in the city, particularly housing and transportation expenses, tends to be higher compared to other regions in the UK. Taking into account these factors, a salary range of £50,000 to £60,000 per year can be considered a good salary that allows for a comfortable standard of living in London.
What is the cheapest way to move from USA to UK? ›
By ship. The cost of transporting your household and personal items by ship is almost five times cheaper than by air. However, it takes several months to receive your things. If you want to use this option, consider moving your things a few months before your trip.
Is it hard for American to move to England? ›
Moving to London as an American can be relatively straightforward, thanks to strong US-UK relations and a common language. However, ease of relocation can vary depending on factors such as visa type, job prospects, and housing availability. Planning and research are key to a smooth transition.
Yes, Americans can move to the UK without a job if they're eligible for a student visa, ancestry visa, or spousal visa. A lot of the other jobless visas are mainly eligible for Commonwealth nations, so the US isn't included, but there are definitely ways for US citizens to move to the UK without a job.
How much is rent in the UK? ›
The average rent in the UK is now £1,223 per month after 7.2% growth in the last year. The highest average rent in the UK is in London (£2,121) while the North East has the lowest monthly rent (£695).
Is it a good time to move to the UK? ›
Despite the pandemic, the United Kingdom experiences relatively high levels of employment, especially when compared to other countries. Great Britain has experienced some economic and unemployment problems after Brexit but there is generally work available for most people looking for it.
How much money do you need for an UK visa? ›
Although, there is no fixed minimum amount you must have in your bank account. However, you may wish to ensure that your bank statement meets the following requirements to avoid visa refusal: A daily budget of about £100 to £150 per day per visitor, as the UK is an expensive country.
How much money do you need to live a good life in UK? ›
From these baskets, we calculate how much different households need to spend to reach this level, and the income required to enable this spending. In 2023, we have calculated that a single person needs to earn £29,500 to have an acceptable standard of living, up from £25,000 in 2022.
Is it hard for an American to move to the UK? ›
Moving to England from the US can be expensive, depending on your visa type. Applicants need to pay the visa application fee, health surcharge fee, shipping, accommodation, logistics, and other relevant costs. You can calculate all the expenses and prepare for your relocation as per your requirements.
Is 1500 enough to live in UK? ›
In London, may be around £1,500 (~INR 1.5 lakh). In a smaller city such as Belfast, the average monthly rent may be around £800 (~INR 80,000). The cost of living in the UK for an Indian family may range from £3,000-£5,000 (INR 3 lakh to 5 lakh) without rent.
