Taking the plunge and moving from the Southern Hemisphere to London is a thrilling step! Whether you are chasing professional opportunities, cultural experiences, or just a change of scenery, you’re in for an unforgettable adventure!
It’s no secret that London can be and expensive city to move and settle into, and if your bank balance doesn’t exactly scream “unlimited”, you’re probably wondering: How much money do I really need to get started in the UK?
While everyone’s comfort level with savings varies, a good rule of thumb is to aim for around $10,000 AUD/NZ/CAN before making the move. If you can save more, then even better! This amount should give you enough breathing room for your initial expenses. Of course, if you’re not planning to hit the ground running and start work right away, you’ll need to stretch your budget accordingly.
The information below is based on one person, so if you are coming over as a couple we would recommend looking at doubling this to get a better idea.
Timing your start
When you arrive, your timeline for beginning work will impact your finances. If you’re ready to start your new role with Bounce Teachers, you’ll be glad to know the pay is weekly, so you will see income shortly after that!
If you have decided to take some time to explore or settle in before starting work, you’ll need to ensure your savings can cover that gap.
Breaking down the cost of moving to London
Accommodation
Your biggest upfront expense will be finding a place to stay. To begin with, we recommend booking short term accommodation for the first few weeks at least. Airbnb, hostels, sublets, or budget hotels are great options, and costs will vary depending on location and type. Plan for $1,000 – $2,000 for 2-4 weeks.
Once you’re ready to move into a long-term rental, you’ll typically need to pay a deposit (usually 4-6 weeks of rent) and your first month in advance. For popular neighbourhoods like Hackney or Islington, expect to pay around £800-£900 per month for a room. This means an upfront cost of around £1,600 – £1,900, or roughly $3,500 AUD/NZ/CAN
Estimated total for accommodation: $5,000 AUD/NZ/CAN
Food and drink
For food, budget about $40 (£20) per day during your first month. This covers groceries, some dining out and a few drinks.
London is a haven for budget-savvy foodies! Take advantage of the UK’s beloved meal deals which average around £4 for a sandwich, snack and drink. Stocking up on groceries and preparing meals at home can help keep costs manageable.
Coffee lovers, beware: a cup of coffee ranges from £3 to £5, so plan accordingly if you rely on caffeine to fuel your mornings.
Estimated total for food and drink: $1,200 AUD/NZ/CAN
Tip: If you’re planning frequent dinners out or pub nights to connect with new friends, you’ll want to top up this amount.
Transport
London’s public transport system is efficient but not always cheap. Depending on your commute and daily plans, you’ll spend about £10 per day ($19) on buses, trains, or the tube.
Estimated total for Transport: $350 AUD/NZ/CAN
Additional expenses
Beyond the basics, you’ll want to budget for some extras to make your transition smoother and more enjoyable:
- Home essentials: Setting up your new place (bedding, towels, kitchen items) – $200 – $400
- Tourist activities: Exploring iconic landmarks and attractions – $200
- Socialising: Pub nights, movies or dining out – $150 – $200 per week
- Phone plan: Use the Giff Gaff SIM we provide you with on arrival
Estimated total for miscellaneous: $1,200 AUD/NZ/CAN
Your first month in London: The grand total
To settle comfortably in London for your first four weeks, you’ll need approximately $7,800 AUD/NZ/CAN. This amount gives you the freedom to explore and enjoy the city without skimping.
If you have $8,000 AUD/NZ/CAN or more, you’ll have a stronger financial cushion, offering peace of mind while you adjust to your new life. Just don’t forget to account for your flight, visa costs and any travel plans outside of London!
Ready to start your London adventure?
The move to London may seem daunting, but with proper planning and budgeting, it’s an achievable and exciting step. If you’re ready to make the leap or have questions about starting work in the UK, contact us to learn more!
Your journey to London is just beginning!
