Wednesday, January 29, 2014

The Cost of Living: United States vs United Kingdom

English: Blending of the flags of the United S...
English: Blending of the flags of the United States and the United Kingdom. (Photo credit: Wikipedia)
Are you considering migrating to Britain and leaving your American homeland behind? It's perhaps not too difficult to understand why in these current times. It's not likely for instance that you'll see an American citizen receiving completely free healthcare or indeed tallying up how much money they'll receive from the government this month on a DSS Move Benefit Calculator

But before jumping to conclusions, you should be aware that many of the overall living costs in the United Kingdom are in fact far greater than in the United States. 

Food


In the United States, we are privileged to have a whole host of international delights fully absorbed into our mainstream culinary culture. From beef tacos to key lime pie, to pastrami sandwiches to the traditional US barbecue, there's not much that we haven't got covered. So surely all of this diversity must be expensive? 

Surely we can't expect to have all of these multicultural foods (in comparison to a fairly bland British offering) and actually pay less than the Brits do? Actually, you can. In a recent study analysing the cost of living in the United States vs the United Kingdom, guess who came up trumps? That's right, America. In fact, on average across the United States, our groceries cost 13.57% less than in the UK. Add that up over a few years and you'll see some big savings, or some big financial losses if you choose to head to Blighty. 

Rent


Well, food is only one of the chief costs of living you might say. The biggest cost is rent, so how does that compare? Even worse if you live in the UK. Yes, on average the cost of rent in the United States is 21.20% cheaper than in Britain, with 1 and 3 bedroom apartments in the city centre and outside of the city centre all costing substantially less than their British counterparts. 

Look at prices in the country and the situation is even worse. Someone living in Truro, Cornwall can expect to pay a whopping 70% extra on their rental cost than someone living in Little Rock, Arkansas. Whether you're receiving housing benefit in the UK or not, it's hard to argue with those figures.


Is the Grass Actually Greener?


Though the UK may seem like a good way of escaping some of the more difficult aspect of America, be aware that Britain is by no means without its own financial pitfalls.


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