Moved From New York to London; Great for My Finances

It’s one of the first things I talk about with other American friends who now live in London: our quality of life in the UK.

Whether I’m chatting with someone from New York, California, or somewhere in between, there’s often a shared sentiment that some things just feel better over here. Sometimes, a friend will point out the clean, efficient transit system or post-work pub culture.

When I really sat down to think about it, though, I realized how much of this magic comes down to the financial trade-offs that my husband and I made when we moved here from New York.

Although some changes may seem small or insignificant (so much so that I hardly noticed them at first), these differences added up to make my life all the better.

We live in an adorable 2-bedroom mews flat — and our rent feels manageable

I am absolutely obsessed with our beautiful little flat. It sits in a quiet, cobblestone mews, which are old, converted horse stables, right in the heart of London.

We are a three-minute walk from Hyde Park, steps away from a central tube station, and a 25-minute door-to-door train ride from the airport.

It is, in short, an absolute dream. We have two bedrooms and two full bathrooms, high vaulted ceilings, air conditioning, heated floors, lots of natural light, and a washer-dryer.

Our mews holds summer neighborhood parties, and I know all the families and couples around us. We do pay a bit more in rent than we did for my husband’s tiny Manhattan studio, but it definitely feels like we’re getting a whole lot more bang for our buck.

It’s nice to have more space, and there’s no way we could afford a two-bedroom, two-bath apartment with in-unit laundry back in Manhattan — especially not one near a major transit stop and park.

Most people get paid once a month, which completely changed how I budget and spend money

In the UK, most salaried employees are paid on the last working day of the month. Practically, that means you get a lump sum in your bank account at the end of each month, and everyone’s a little more liquid at the start of the next month.

In the US, I was paid every other week. Although I actually preferred that system, I quickly noticed that my new setup made me more conscious of the ways I spend my money throughout the month — which started helping my wallet.

Watching my checking account tick down all month long as I spend money on dinners, groceries, and Ubers has inadvertently made me more intentional with my budget and spending.

Now, as I wait for my next paycheck to hit, I’ll often opt for the tube or walk instead of taking a cab, or cook at home and bring lunch to work instead of getting delivery or eating out.

I haven’t spent as much as I expected on flights back home

Deciding to move overseas in our late 20s and early 30s — during a season of friends’ weddings, bachelorette parties, and new babies — is not for the faint of heart. I was expecting to have to spend lots of our disposable income flying back for important events and to see family.

As much as this has been the case, our friends and family have also been very eager to make the trip across the pond to see us, rather than the other way around. We’ve had over 30 visitors so far, who stop in when they’re on vacation, traveling for work, or on their way to destination weddings.

The constant stream of guests means fewer trips back home. Plus, I have realized I love getting this special quality time with my loved ones when they visit and stay with us: slow morning coffees, brushing teeth together in our pajamas, long runs through Hyde Park.

It’s those little in-between moments that get lost when you live in the same city and only meet for dinners or drinks before trundling back to your own apartments and homes.

Generally, my groceries also cost less

When I was back in New York recently, I popped out to the store to grab some oat milk and whole milk.

My jaw fully dropped at the cash register: The two jugs cost me over $15. I’d usually spend maybe 3 pounds, or about $4, for a similar haul back in London.

In my experience, London’s grocery store prices generally tend to be lower than New York City’s. Pantry staples like free-range eggs and whole milk are often a dollar or two cheaper, and I’ve noticed that these small differences really add up.

One of my favorite grocery savings is French butter. Président butter is under 4 pounds, about $5, at my local store. In New York, the same product would cost me up to $8 or $9.

Even post-Brexit, chic European imports like butter, wine, and cheese remain cheaper in my area than they were back in the States.

Of course, there are still parts of London life that feel expensive

Overall, living in London has felt more cost-effective for us than being in New York City. However, this isn’t the case for everyone, and not everything here is a lower cost.

The tube is typically more expensive than the New York subway, and my utilities cost about the same.

Plus, salaries here tend to be lower (especially in my field), and our taxes are higher in London. I have been lucky enough that my corporate editorial job actually pays about the same as my New York-based magazine job, but more of my income goes toward taxes each month.

To be quite honest, though, I’m happy to pay a little extra each month if it means I can live in such a sparkling city.