Just a few months short of staying a year here in United Kingdom, I thought I will come up with such a list to let readers get the best bang for their penny. Please do understand that the concept of value is subjective and not absolute. Some people may perceived a item as a value buy but others may think the same item is absolutely worthless. The list below is not ranked. So here goes:
Top 5 least value
1. Utilities (Water and electricity)
Water and electricity are way too expensive in UK. On a standard tariff rate, electricity costs about 20p a KW on the average. A 3KW heater will cost about 60p to run for an hour if running at full power. That is the rate I am paying for the first 1000KW of electricity I use per year. After that the rate drops to about 12p which is still pretty hefty. I don’t use gas so I can’t comment. Gas is much cheaper per energy output but you will still need to maintain the gas boiler for safety reasons and those maintenance fees are anything but low. For many UK residents, the easiest way to save money is to reduce the amount of energy used in the house such as installing insulation to reduce heating.
2. Transport
Everyone knows London cabs are expensive. I also feel that the price we pay for public transport is pretty outrageous. With the exception of buses in London where you pay 1.20 per trip no matter the distance, Tube, rail or coach don’t really offer good value. I always try to walk in central London if I can. The newly launched Barclays bicycle hire scheme may be a good alternative. It’s not available for tourists yet but the present charge is £1 a day to join and if you use the bicycle for less than 30 minutes, it’s free.
3. Eating out
This activity really empties your wallet faster than you can blink. I rarely eat out. Once I ate in a budget Chinese restaurant in Chinatown London and I felt that I am giving my money away for the standard of food being served. Expect to pay at least £6 or £7 per person excluding service. Fortunately some fast food places such as Burger King has meals starting from £1.99. However, most Burger King outlets do not even list these meals in their menu. You need to ask.
4. Phone calls
It is a scam if you ask me. Businesses and even government departments force you to call expensive phone numbers starting with “870” or “840”. The rates typically start from about 12p per minute. If you call from a mobile, expect to pay double. A point to note is if you call a “800” toll free number from a mobile you may still be charged. Luckily, some numbers have alternative landline numbers which you can call. Landline numbers usually only cost 1.2p per minute. I highly recommend this website saynoto0870.com. Do make sure you check this website before calling these numbers.
5. Parking Charges
The parking charges in UK are sky high and especially worse in London. Most roads are congested with cars and it seems people are reluctant to build upwards. They much prefer to stay congested with their narrow roads and low rise buildings. You can save a lot in parking charges if you try to find cheap or free parking before you travel. Another way to do it is to adjust your plans to fit the free parking hours some places offer.
Top 5 most value
1. Biscuits, bread and chocolate
The cheapest of these 3 kinds of food sold here in supermarkets are even cheaper than the cheapest sold in Singapore. The quality isn’t too bad either. For example in the Sainsbury’s Basics range, chocolate sells for 27p, a loaf of white bread about 45p and rich tea biscuits 23p. A packet of shortbread biscuits from Tesco’s Value range sells for 9p! In fact, products from Tesco’s Value range or Sainsbury’s Basics range offer good value for money. For example a 2L bottle of pure water costs only 12p. Granted it’s no Evian but it’s perfectly drinkable.
2. Free entrance to museums
London has a lot of outstanding museums such as The National Gallery, the Museum of Natural History or the British Museum. It would be a pity that a visit to London did not include these museums.
3. Annual memberships
If you are staying in UK for a few months or longer are intending to visit various English Heritage’s or National Trust’s sites, you should become a member. At just around £40 per person per year, these memberships offer tremendous value with free entrance to a few hundred sites. Just a few visits and you start saving money from the admission fees. There are also similar organizations in Scotland and Wales.
4. Booze from supermarkets
Due to intense competitions among the supermarkets, some sell alcohol below cost during promotions. I don’t recommend consuming alcohol in large quantities but an occasional drink is fine.
5. Mid year and end of the year clothing sales
Prices can be slashed as much as 90% in these clothing sales but you will have to brave the maddening crowd to grab what you want.
If you have a similar list, do feel incline to add to my list.
As always, please feel free to ask questions or leave a comment and I will try my best to answer them.
4 Comments
Thanks for sharing this. I always find it hard to get cheap and good places around the UK especially in London. Its just an expensive city.
UK in general is an extremely expensive country. Fortunately due to the large drop in the value of the pound in the last 2 years or so, you can travel cheaper in the UK since you could potentially exchange for more pounds.
To add to this issue on foreign exchange rates, many products and services are still priced according to the old exchange rate, making it cheaper to buy in UK. For example, for a lot of books it’s probably find it cheaper to buy inside UK. Another example are booking cruises with operators such as Norwegian’s Hurtigruten. In my experience, it is cheaper to book your cruise from UK’s representative due to the fact that they fixed their prices quite some time ago and the value of the pound had since dropped.
It’s good to know that despite the UK being an expensive place, there are still those that you can consider cheap. My aunt is staying in ‘Isle of Man’ and I heard that you also have to pay high taxes in UK. Is it true?
Yes, its true but you do get some welfare benefits such as healthcare.