How much should I budget to live in London?

Summary about cost of living in London, United Kingdom: Family of four estimated monthly costs are 4,207$ (3,025£) without rent. A single person estimated monthly costs are 1,183$ (850£) without rent. London is 12.58% less expensive than New York (without rent).

What salary do you need to live in London?

Living costs in London are spiralling out of control

The authors of a new report found that a single person living in outer London would need to earn at least £21,100 a year to be able to pay rent in a shared house and live comfortably, rising to £22,300 in inner London.

What is the average cost to live in London?

What is the annual average cost of living in London? For a single person, the cost of living in London goes up to £2892 per month. The annual average cost of living in London for a single person is £34,704, or £2,892 per month. For a family of four, the monthly cost rises to £4850.

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Is 60000 a good salary in London?

£60k puts you in the top 25% of incomes in the UK, and the top 40% in London. Whether that makes you comfortable or not is down to you.

Is living in London Expensive?

High rents are the biggest reason that London’s cost of living is so high. But it’s also the expense that’s most in your control. You could pay £1,750/month to live in a charming one bedroom in Hampstead, or pay £400/month for a house share in Zone 3 and use the leftover money on travel/food/future savings/etc.

Is 35000 a good salary in London?

If you are just working five hours a week making coffee, this is an excellent salary. If you are working 80 hours a week as a computer programmer, perhaps it isn’t that good. BUT if what you are actually asking is whether £35k is enough to live on in London for a single person, I’d say yes (assuming you are legal).

Is 30k a good salary in London?

30k in London is do-able. However this kind of salary level will only buy you a decent quality of life if you are sharing accommodation, or living right next to your workplace. Bottom line, if you’re only earning 30k in London, you have to hustle to survive, or else have some friends/family help you meet your expenses.

Is 55000 a good salary in London?

£55k is about £10k above the average London salary, and even then bear in mind that the average is distorted northwards by some obscenely high city salaries in the finance sector.

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Is 70000 a good salary in London?

£70K is a great salary for a single person in London. If you have a family, it’s also good and you’ll be able to have a nice lifestyle in London.

Is 50000 pounds a good salary in London?

By Reuters Life! LONDON (Reuters Life!) – Money may not be the answer to all of life’s troubles, but earning 50,000 pounds a year — and not a penny more — could make you among the happiest in Britain, a survey found. … “It shows that money isn’t everything,” Bowsher said.

Is 40K a good salary UK?

40K is definitely good enough to support yourself, live relatively comfortably. The tax will take quite a good percentage off that which is quite a pain. I guess it won’t be enough to support a family very well if you live in the central London area, or higher investments like buying a house.

What is a decent salary in London?

I would say 150k pounds is starting to get decent in London for a good, comfortable standard of living for a single person. This is about what a director at a big 4, VP/SVP at a Fortune 500, senior lawyer, IB or PE associate or engagement manager at a strategy consulting firm would make.

What is a middle class income UK?

As of 2011 the established middle class had an average household income of £47,000 a year and owned a home worth an average of £177,000 with average savings of £26,000. Many were graduates, and a majority of their members work in the professions or management. Many originated from professional and managerial families.

Is 150k a good salary in London?

Yes, it is an excellent salary for someone who is probably in their early thirties, easily in the top couple of percent of incomes for that age group, even in London. You would take home just over £7000/month after tax.

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Is 100k a good salary in London?

£100k is certainly a much higher salary than most people in the UK earn – £80k would put you in the top 5% of earners, despite what this guy said during an election debate. A survey taken five years ago found that only about 1 million people earned more than £100k per year.

What is bad about living in London?

The main benefits of living in London include access to a great public transport system, job opportunities, exceptional cultural, and musical entertainment. The main disadvantages of London include expensive housing, traveling in rush hour, pollution, and tourists.

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