Cost of Living in the UK

Some things are more expensive in the UK and some things are cheaper and it sometimes depends on how you look at it. With most goods, you can expect them to cost the same in pounds as they do in dollars, ie. cd cost $13.99 in US, and costs £13.99 in the UK, but if you consider the exchange rate, you’re paying over $20 for a cd here. This is not always the case, and things are improving as consumers are demanding to pay the same as other countries. One area in which the UK costs are terrible is petrol (gasoline) prices. They’re currently near £1 per litre. That’s near £4 per gallon, with exchange rate near $7.00 per gallon! These prices are largely due to tax.

Some are discussed in more detail in other sections of the website.

• Income Tax (seems around 20%)
• Council Tax (around £90-120/month, depending on property value, area, etc.)
• TV License (£10/month)
• National Insurance (taken with income tax from wages)
• VAT (17.5%)
• Vehicle License/MOT(emissions and safety tests)/Insurance (License : £190 per year at post office, MOT tests IRO £30 at test centres, Insurance (dependent on vehicle and driver but anywhere from £300 to £1500 per year for average cars, See also Transportation)
• Housing/Utilities (See also.. Home and Housing)

• Free health care
• Not needing a car if rail/bus services are convenient
• Company car (many employers supply these, if you’re lucky)
• One less tax to pay, ie. not state AND federal as in the US
• More exotic vacations for less money, Greece, Paris, etc. (a 2 week vacation in Crete for £180 each! included airfare and hotel)

Prices in general: milk : 87p per 2 litres; bread : 45-75p per loaf; eggs : £1.39 per doz; gas/petrol(sky high for the taxes) Petrol : 93p per litre, Diesel : 81p per litre (5 litres to a gallon); cigarettes : £4.50 pack of 20, give or take 50p depending on your brand of choice; you’ll find utility prices discussed elsewhere in the site (Home and Housing).

One University site states: “In total, for a full year, a single student will need about £7500 - £9500 (2000 figures) to meet the basic expenses of living in London (excluding tuition fees). A couple will need about £12000 - £15000 a year, with at least an extra £2000 per year for each child. " That might give you some idea.