CamdenNewJournal

The independent London newspaper

5 Ways Londoners can get Great Deals this Summer

17 August, 2020

With money tight, living in London might feel like a constant battle to save pennies at every opportunity. Eating and drinking out is more expensive than in other parts of the country, the necessity to travel is greater and the pressure to build up some savings is intense.

According to a study, around a quarter of British adults say they have no savings. While the average wage in London is higher than that in the rest of the United Kingdom, so too is average rent and living cost. This makes saving money hard, especially if somebody travels frequently to visit friends, for example.

These five simple steps will help save money and give some pointers on how to navigate some frustrating financial stumbling blocks, such as how to lease a car after experiencing bad credit or bankruptcy.

  1. Coach and railcards

If high travel costs are the root of an inability to save, the first place to start is to buy a coach or railcard. When travelling on National Express buses, a coach card offers savings of one third on all standard fares, regardless of whether you’re travelling during peak or off-peak times. There are three categories that make one eligible for a coach card: being over 60 years old, being between 16 and 26 years old and having a registered disability.

Similarly, train travel prices are reduced by up to a third with a railcard. Railcards can also be linked to Oyster cards, helping with internal travel as well as that to other parts of the country.

  1. Car leasing

Travelling by car can also see savings when done right. It is possible to get a car lease with bad credit such as a bankruptcy or facing a County Court Judgement. Leasing a car means payments on it are made monthly and the car is returned at the end of its fixed leasing period.

  1. Cancel subscriptions

During the tightest restrictions for COVID-19, more than 4 million people in the UK took out extra subscriptions to streaming services such as Netflix or Disney+ to quell the boredom. Once back at work, on the job hunt or travelling to see friends and family more, it might be worth cancelling the subscriptions that are no longer worth their monthly fee or have exceeded their free trial period.

  1. UK holidays

The UK government has shown it has the power to bring in fresh quarantine rules for those returning from a holiday abroad, which may encourage more people to holiday at home. This could be a smart financial decision, as it means work won’t be lost due to isolating upon returning and accommodation such as camping or staying with friends is cheaper than luxury hotels.

  1. Restaurant deals

Finally, many restaurants are offering deals to entice customers back inside and, for those who love an evening out, these should be sought out and taken advantage of. Most commonly, restaurants might be taking part in the “Eat Out to Help Out” scheme which will offer a 50% discount off food and soft drinks on certain days of the week.

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