‘Time is money’ is an age old cliché.
However, it could not be more true in the big smoke of London. Not only do Londoners still have the longest average commute in the UK, 74 minutes (Sept 2020 study), but the admin around bills such as council tax and gas, electric and water rates is a time consuming, expensive headache. Finding the best provider and then working out a system with your co-renters is stressful. However, when presented with an all-inclusive package, it would be a mistake not to explore this option.
It is well-known that energy companies have reported an increase in gas, electric and water rates being paid using a credit card. A credit card, yes. This sadly means that individuals have not managed to forecast certain extras in an already expensive city, but they are now paying interest on top of the rising cost of energy in London. How is that a smart move?
When you move to any new place, budgeting can be tricky. It’s normal to take 6 months, a year or more to really work out where the best places are to buy food, eat out, grab a drink or an overpriced coffee. It is normal, especially for young professionals, to overspend.
Therefore, having some established fixed costs is a great foundation to start with. You will have peace of mind that your core expenses have been taken care of, so you can spend your time focusing on building a life in this exciting city.
Another benefit is that you can avoid uncomfortable conversations with housemates. The stress of chasing people for their portion of the bills is a thankless task. You want to make friends with people in your building, not have to chase them for a gas bill, right?
Additionally, if you are unfortunate enough to have a dishonest housemate (who sadly decides to leave without paying their share) then you could be left ‘holding the bag’. There are plenty of horror stories where a housemate ends up footing the bill for everybody, which would obviously be both upsetting and expensive.
Landlords who offer all-inclusive options want to present the tenant with an attractive opportunity. In light of this, landlords will often underestimate the cost of these bills, meaning that they take the hit themselves and you are left with an extremely good deal.
This is yet another advantage of an all-inclusive package. In my opinion, an all-inclusive option ensures that everything is sorted, so you can plan and
save… or just spend! London is a wildly exciting city that offers something for everyone. It can be overwhelming at first though, so not having to worry about any additional bills or extras will be a relief. The more a person explores the city the more they realise why the great Samuel Johnson famously said, “When you are tired of London, you are tired of life.”
So, what interesting, cool or productive way are you going to spend that extra time and money you save from an all-inclusive option?