What I spend In a Month as a Banker Living in London

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👉🏽 My first $100k tracker (free): nischa.me/personal-finance-tr...
⌚TIMESTAMPS:
00:00 - Intro
00:38 - How I Make Money
02:22 - Needs & Fixed Expenses
03:58 - Wants
06:43 - Final thoughts
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Shoedog (my favourite book about intrinsic drive in business): amzn.to/3UdsiXz
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The Dhandho Investor (The book i recommend to anyone new to investing - easy to understand): amzn.to/3U6A1Xr
The Midnight Library (not a personal finance or personal development book but one that makes you grateful for every moment of your life): amzn.to/3TqkfW8
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DISCLAIMERS & DISCLOSURES ❤
This content is for education and entertainment purposes only. Nischa does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
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Опубликовано:

30 июл 2024

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Комментарии : 668

@nischa Год назад

👉🏽 My first $100k tracker (free): nischa.me/personal-finance-tracker Been getting more views on this video than I expected. Thanks for watching! Just to clarify - there are expenses that I don't cover in this video because they go into my 'business expenses' as opposed to my monthly 'personal expenses'. So whilst it may look like I must be saving a lot, in reality a lot of it gets reinvested. The key message I hope to convey is where possible, live below your means and (re)invest Xx

@sg3918 Год назад

Investing is a form of saving I'd say. It certainly isn't expenditure.

@hassyg4083 Год назад

@@sg3918 not really as it can go down

@sg3918 Год назад

@@hassyg4083 yep can do but even losses (especially unrealised) aren't really expenditure. It's a constantly moving thing. Hard to put in the same category, guess it's shown for simplicity.

@hassyg4083 Год назад

@@sg3918 its certainly not savings as you incorrectly said

@uknasa007 Год назад

@@sg3918 investing is not saving thats 100% WRONG. Saving is when you put a fixed amount in a account and it says there idle doing nothing it doesnt go up or down. Investing is when you invest is something and depending on the value of the investment it can go up and down.

@martynbeaumont1100 10 месяцев назад

I've watched three of your videos so far and I agree with everything you've said. Especially liked that you mentioned in this video to focus energy on the big ticket items and not worry too much about depriving yourself of a nice cup of coffee.

@privateequityguy Год назад

To everyone who has started or is thinking of starting their own business: *Believe in yourself and never give up.* If you can work 8 hours for someone else. You can work 2 hours for yourself…

@itn0687 Год назад

Which business requires you to work only 2hrs a day?

@SB20002 Год назад

@@itn0687 laundry business

@mushfiq8318 Год назад

biggest load of shit i've ever heard

@gatekeeperboxing5898 Год назад

@@itn0687 The 2 hours will likely be spent educating yourself on additional ways to make money that you can work towards putting into action.

@pa5666 Год назад

I don't know a single business owner who works for only two hours...

@peterowen4456 Год назад

I don't know why but I find this type of video endlessly fascinating even though I am at a completely different life stage and live in a cheapish part of the UK. You are pretty switched on and I think your videos will be immensely valuable to young people starting out in life especially in London.

@elconservador9016 Год назад

Niche high-end videos that cover most of the topics someone interested in commercial banking like me would want to know. Currently watching during all my lunch breaks. Would love to see a video on what one must learn to land a job on IB if there isn't one already.

@CasualPhysicsEnjoyer42 10 месяцев назад

First realistic expenditure video for a finance professional I've seen for London (I used to be trader for an IB in London)! Thanks for the video :) I would say that the holidays and ad hoc spending is a pretty decent portion as well but i am glad you made that clear

@GonzoJamie Год назад

Love *everything* you have to say. You’re an excellent communicator - very clear ❤

@timturko Год назад

Hi Nischa. Your life and investment advice has really helped me. Your videos are clear, concise, and easy to follow.

@jordanelcock5723 Год назад

Great video. I’m a financial adviser in the East Midlands and it’s important we track our expenditure and be realistic with budgets.

@megapangolin1093 Год назад

Beautiful, lucid, clear, open, honest explanation of your life and I thoroughly enjoyed this video. Honestly, I would have thought your makeup/beauty bill would have been huge for very obvious reasons.

@zoyakx Год назад

Love seeing people in London come up on my feed! Brilliant channel :)

@RaphOrChuks Год назад

Thanks Nischa for such insightful videos! It's always a pleasure to watch!

@gcbeats Год назад

We have identical expenses and I'm in Liverpool, so you are doing really well for London. Really cool video!

@rickpruim4458 Год назад

Seems like a lot of people (including me) are getting these videos in their recommendation! Really enjoying them btw, keep it coming!

@scap11 Год назад

This is useful, thank you. I’ve started off in investment banking and I do stick to a monthly budget(fuel, eating out, travel etc) everyone says I’m crazy for having a budget as a “young”(29yrs) person but your logic I can relate to.. thank you 🙌🏽

@OneUpReviewz Год назад

I think its crazy people dont even have a budget

@hamishmounsey3989 Год назад

I find personally impulse buys in convenience stores for me like drinks and snacks, and getting takeaways add up to one of the biggest expenses that can be saved

@tashalondoner Год назад

Appreciate you keeping it real re eating out prices in London! I've been feeling guilty about dinner bills that come to £40+ and the meal wasn't even extravagant! Ditto with easily getting through £10 a day for lunch in the city. It's extortionate, yet equally it is tricky and expensive to get in all the ingredients to make things at home for lunch/dinner when office days and after work plans tie you to the city, which can be an hour from home. Nothing worse than spending on food that doesn't get eaten at home!

@BitcoinManagement76062 Год назад

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@Shnayblay 10 месяцев назад

“Ditto” 😂

@terezmajor8669 Год назад

Thank you for your openness. It should be taught in school how to deal with money, I'm learning a lot now. Wish I was 20 years younger.

@lagatha9774 Год назад

This is a good video because I think many people (myself included) were just curious about how you balance a budget. You are able to plan for the future as well as stay on top of the expenses that are required to maintain your lifestyle now. It all comes back to living within your means. I am originally from the UK but now live in Toronto which is super expensive. I expected London to be a lot worse to be honest. By the way your content is very inspirational and gets us thinking about what we can achieve.

@sashablack6963 Год назад

Thank you so much for this video! The point about having a cap of how much you can save is so true!! As a fresh grad who moved in with my partner for the first time in London it's so helpful to see what is realistic and aspirational spending habits. I have a decent salary for a fresh grad with £1900 take home a month but it's quite tight figure for London. I tried to save as much as I can and most I can get is £400 a month to put into Lifetime ISA for a house deposit. This however means that I live like a monk and avoid social occasions. When you add the factor of being a young woman in London and wanting to do all these exciting things and buy glitzy stuff you see online all other people somehow miraculously have the money for it can be quite challenging and demoralising. Only way forward is to increase income to be able to save more

@C63Bez Год назад

You could maybe live with family to save more and be able to go out as well. Or just be a hermit for a few years to save your money. Or save less and go out a few weekends a month Or save nothing now and wait until your income rises. When I graduated I was on £2100 ish, was able to save £600 ish a month on that living in London but I didn’t go out a huge amount. Much easier now after working 4 years or so due to salary rises.

@squodge Год назад

I'd say look more closely at what you're spending your money on. I work as a legal secretary in central London, so I don't have a mega salary, but it's reasonably good. I have a mortgage (one-bedroom flat near Kings Cross) and I can save around £1,000 a month if I put my mind to it - and yes, that includes socialising in a way that doesn't force me to spend huge amounts. I also cook most meals I eat (obviously not the ones where I'm eating out). It was the super-saving that allowed me to pay off debts and get on the property ladder.

@NoName-ql1wk Год назад

I live in London and spend around £5k a month. I don't lead a particularly glamorous life, it's just expensive.

@gurmitmal3165 Год назад

Love all your videos, eye openers for sure. Treating your income & household as a business re income V expenses is so very important... Plus a lot of common sense & not just wishing for the best is powerful... 😎

@soniashah714 Год назад

You’re one of my favourite RU-vidrs - your videos are so informative

@nischa Год назад

Thank you Sonia

@hatin_the_thinker Год назад

Thank you for sharing this insights. Not many are willing to talk to this. But many like to hear about it just to grow their knowledge base. Don't stress about explaining yourself...it's not bragging. We live in the information age. And you are sharing just that. Tx

@nischa Год назад

I appreciate this a lot. Thank you

@AS-yg5dt Год назад

Just discovered this - love the channel - thanks for sharing - keep doing you. Peace 🙏🏽

@swerob00 11 месяцев назад

Love your videos! Can I just say that putting a camera in the fridge for your B roll is top quality! 🤪

@ishaw500 3 месяца назад

Binge watching. Love that you’re a Londoner and woman!! We are traditionally tight lipped around money.

@jefferyhutchinson791 Год назад

Interesting video. The thing that surprised me most was how cheap it is to live in London - not the reputation at all. Your mortgage seems very reasonable as do your grocery costs. Those numbers would apply in cheaper cities - more so than NYC, Toronto or SF.

@danielrichards9783 Год назад

I often hear how expensive London is, but your monthly expenditures seem pretty reasonable. Because you're a banker, you're probably good with money. It looks like you have a nice life. I would love to live in London but I am an American lawyer and tennis pro, so the transition would not be easy...unless of course I could coach or manage Radecanu!

@buntyvirani8653 Год назад

nicely done without boasting stuff, that feels like a great deal of work.

@gurdeepchumber2764 Год назад

Great video & thanks for sharing,it's basic stuff but you'll be surprised how many people live above there means & are in debt

@WA-of7nk Год назад

The budget seems quite measured, I like it. Increasing growth and wealth in order to save more is a good point too. Will tell the Home Office 🙂

@searklarak Год назад

My best friend, in his late 20s, works as a tax accountant in The Big 4. His job title is Senior Manager. He likes to invest, bought his first property (1 bedroom new build flat) recently and doesn't splash on many things except holidays and food. He's got a pretty chilled lifestyle and has similar expenses after factoring in bills.

@somethinglikeanonymous1773 Год назад

And?….

@Shnayblay 10 месяцев назад

I’ve noticed people in comments sections just love telling the world irrelevant stuff 😂

@CaptainLeo Год назад

Great content and well-paced delivery. I am so glad you don't do those sponsorship plugs, that's why I unsubscribed to several other channels.

@Dana-ml7sy 10 месяцев назад

The one thing I did when trying to cut costs was learn to cook. Vegetarian food is cheaper but you can make 6 shepherds pies with 500g of lamb mince supplemented with lots of veg if you eat meat. Meal planning & prepping saves money. Rather than eat out my friends & I took it in turns to host a dinner party once a month & everyone would bring something to make up the feast. Sometimes they would be to celebrate an occasion & other times it was a theme night.

@idamantashi8529 Год назад

This is great. I was surprised to see you spent zero on clothing. Good for you. I totally enjoy luxury shopping.

@stoic900 Год назад

Awesome vid! I desperately need a side hustle. I've been dealing with the lifestyle creep that comes with salary bumps

@cvstaff22 Год назад

I would love to hear about your journey to getting started in property and renting out commercial properties

@tajchana1 Год назад

Great organic video, keep it it real. Thanks happy new year !

@joseanp9061 Год назад

In my opinion this video is very interesting for everyone. People can compare how much money they spend considerating their incomes. Today I discover your chanel and it´s wonderful. Greeetings from Bilbao (Spain)

@gatekeeperboxing5898 Год назад

I also work as an accountant in London and live there, but probably make alot less since it is not in the banking sector. It is always interesting when I see other peoples expenditure living in the same city, I always seem to find my monthly expenditure in every single category is considerably less, and some categories I spend nothing at all.

@richardamos3173 Год назад

Wow! Your discipline is extraordinary. As for the "when I was younger" comment....I only started saying that after I turned 50!

@inviaggioconraf Год назад

I love the beauty that shines through your voice while you're speaking about "ordinary things". I have some ideas about a video that I would love to make, let me know if we can talk about it somewhere! Cheers from Italy🌻🗺

@itisok1021 Год назад

Love it. It is veyr helpful to have a practical example. Thank you🙏

@Sensible468 Год назад

Hi Nischa, great channel. I was a little surprised on your food outlay costs. I would have thought this element would have been higher and especially living in London. All the very best for your channel. :)

@allanbahati1942 Год назад

Excellent video, thanks for sharing! We have pretty similar expenses but you beat me with locking that mortgage rate. Salute 👏👏 😎 new subscriber, and thanks for sharing your journey!

@nischa Год назад

Thank you!

@letschatfamilyfinances Год назад

I am shocked at how low these numbers are! Good work! Especially the mortgage!

@foxyfoxtrot4233 5 месяцев назад

I’m positively surprised at the mortgage amount. The total monthly payment is much better than the rent many people pay. Well done!

@davidgladpaul Год назад

Hi Nischa. I have a video request. I'd love you to do a video on how to manage and grow your finance as a person who's just starting out a self employed job. Thank you in advance. 🙏

@apoorvsingh_ASR Год назад

Keep up the good work Nischa!

@championchess31 Год назад

Beautiful and clever. Thank you for your interesting perspective on money.

@evansaly Год назад

I think it’s interesting to see how others handle ££. I think you are disciplined and that something to learn from as I think it’s being spontaneous with spending that underpins financial unpredictability. I’ve only watched 2 videos but I’m inspired to put some of your advice into practice - apportioning and controlling the outgoings 😊

@BitcoinManagement76062 Год назад

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@stuartsgp Год назад

I live in London too, very interesting to see what you spend. Was most surprised by your groceries being only £120, that’s very economical 🥳

@andrewlunn Год назад

Hi Nischa, you're making some great videos and I wondered if you also enjoy photography? A print for your wall may be a great investment or gift to yourself. You may even want to shoot it yourself so you have the 'life experience' as well as the tangible print. I shoot in London most days and often in & around Bank. Happy to offer you some tips or meet for a photo walk / shoot if you'd like to.

@Krishen835 Год назад

Really useful! Thanks for sharing!

@FutureInvestmentsBullion Год назад

A new found channel for me. I love it.

@riarawat4386 Год назад

Hi Nischa, thanks for this lovely video, was wondering if you could share a video on your expense tracker - how do you track it, formats etc. It would be greatly helpful, thank you!

@sikhpilot. Год назад

Ok that was 200k more than I expected. Good on you! Great video.

@bff-experiments Год назад

love the honesty and authenticity of this video

@kristianas5375 11 месяцев назад

wow, that mortgage was a really good deal, I wonder what deal is/would be your next one. As an accountant, you must have the knowledge to negotiate or find a better one. I would love to find out how it turned out for you! And thank you for sharing this I just realized I must write everything down, even though I live below my means, somewhere I spend way more than you. 100 pounds for the train? how? I would be so happy to pay the same price... Is it within the same zone? Very last one, loooove your accent and clarity, as a foreigner it is like a pleasure, I have so much joy listening to your videos xx

@davidlu6265 Год назад

Good quality content! I’ll never get tired of it.

@nischa Год назад

Thanks!

@zenakaur9947 7 месяцев назад

A minimal capsule wardrobe video would be great considering you didn’t buy new clothes for 6 months! / where to get quality items from

@lizheyndrickx5190 Год назад

Great video! Well articulated:)

@Mrs.J.B Год назад

Groceries alone is almost R5000 for a 2 person household. Electricity up to R1000 a month - not too mention that we now have permanent load shedding - no electricity for 3hrs 2 to 3 hrs a day, depending on what stage your area is in. The living costs keep rising but the income does not.

@Asht2704 Год назад

Thanks for sharing. It's good to see someone talking about finance and speaking on 'taboo' subjects. I've started doing to same on my channel - good luck!

@nischa Год назад

Thank you. Love your channel also, good luck!

@glenn06 10 месяцев назад

This is such a helpful video!

@VintageRadius 2 месяца назад

You’re spending quite a bit less than I would have thought. I work in the Financial sector in Boston. London is always a pleasure 😊 Cheers!

@prathameshlandge4216 Год назад

could you please make a video on your career like how you got here like qualifying as an accountant and then banking, what uni you went to?

@dalegrange7503 Год назад

Hope you are doing well. I enjoyed the video . Good information and. Very well explained. Wish you all the best for the future..

@dalegrange7503 Год назад

Thanks for the reply. Have a good weekend.

@KeepingWatchUK Год назад

Good for you. Seems you have a perfect balance of spending / saving and ensuring you’re enjoying your time in London! For me personally I try to overpay on the mortgage (also fixed at 1.5% a few years ago, fortunately) and save/invest any surplus. Problem is, my vice is wrist watches so any such saving ends up going on them anyway! 🤦🏻‍♂️😉

@squodge Год назад

Why do you need so many watches if you only wear one at any time? Besides, our phones have the time so your watches are a wasted expense (if the watches could somehow bring in income, then sure, it would be worth it). I also can't think how a watch can bring joy into your life lol.

@eve_synn Год назад

@@squodge watches are investments, they go up in value quite quickly!

@phueal Год назад

Never would have guessed your vice from your handle and profile pic!

@dlc2479 Год назад

I noticed about the interest rate too. Definitely worth overpaying rn, my bf has a newbuild in zone 2 and his mortgage has gone up by nearly 3x 😢

@anteleto8552 3 месяца назад

Thank you for sharing! What shocked me the most is spending only 120 pounds on groceries (!)

@SinduMadan Год назад

Just curious, but other than investments is there an estimated guideline around insurances and how much a 30 year old should be insured for just to cover the basics (life, critical illness, accident insurance etc)?

@autovlogz Год назад

I'm interested in the mortgage you mentioned, how do you get one that allows half and half? Or do you just mean you have a repayment one amortising in the usual way?

@traveller2478 19 дней назад

Thanks for the work.

@robertonditi7715 Год назад

Thank you for this breakdown.

@tarunsingh229 Год назад

Nischa, you’re gorgeous. You remind me of very beautiful and graceful Indian actress, Chitrangada Singh. Thank you making such amazing content for your subscribers. More power to you. 🎉🎉

@Nilankams 2 месяца назад

Hi I am a data engineer living near London (near Barnet). My living style is similar (2 bed newly build flat with service charge). My monthly outgoing is £2,200 and its really helpful to know someone else outgoing too (I've managed to keep it bit lower than you by £600). Thanks for sharing these expenses as its gives me really valuable insight to my own expenses.

@alannah609 Год назад

Wow, 1.6%! wish I could have bought my first house during the pandemic where rates were at their lowest, but couldn’t afford the deposit at the time. Now just moved into my first home, locked in at 3.6%. It’s a two up, two down terraced house doer-upper (150 miles north of London). I knew it would have me living from paycheck to paycheck because I just wanted to get on the ladder and stop paying extortionate ground rents and service charges in my previous flat (which were going into a greedy residential company’s pocket). While I applaud your success I do believe that sometimes getting some financial benefits are down to timing… particularly when global markets and governments seem to run a lottery on people’s house prices. I simply did not have the right amount of money at the right moment and am now literally paying the price!

@sumildepala9932 9 месяцев назад

and im now looking at 5.1% lol. you lucked out from my point of view haha

@rahulshendre7089 Год назад

nice one i am just binge watching all your videos

@MegaSerioussam Год назад

I thought it would have been more expensive. Great video. Love your channel

@mr.bubble1657 Год назад

Please make a video on your life journey....i mean like how what u did after schooling in india, what collage u went, how you got a job in london

@mixnmichael1 Год назад

Wow that's very good for living in london. I live in Phoenix Arizona in the states and have a similar budget.

@TMBCSALEM 9 месяцев назад

your mortgage and interest rate are nuts. Amazing!

@DallaceLaDawn Год назад

I live in the Bahamas, I try to find different ways to save on food but the prices here are ridiculous! $9 for a gallon of milk! Love your videos!

@keithnicholson9100 Год назад

Im surprised. I live I’m Vancouver Canada and i spend more. Im loving the videos, especially “Paying yourself first “👍

@DwightWalker Год назад

Surprisingly good value for money on expenditure.

@AllStarsOfComedy Год назад

Excellent breakdown thanks 😊

@annallfrey7289 5 месяцев назад

Just found your videos and really finding them interesting and inspiring. I’m amazed you spend only £30 a week on Food/groceries. I’m guessing this doesn’t include pricier things like washing/dishwashing tabs and cleaning products. Also noticed your monthly spend on gifts is more than your monthly spend on food/groceries. Really enjoying the videos

@geylekinfraire8596 Год назад

Your Beautiful, Successful & so humble thanku for All ur valuable info on Finances! If I must admit I wish you also did Makeup tutorials-vids would luv to watch ha ha ❤️

@neavius Год назад

I’m really surprised..thought this would be a quick narcissist vid ..but in-fact your are a really sound soul . Thanks x

@kevinross8844 3 месяца назад

Just started watching your videos, excellent. My top tip…get rid of your Nespresso machine, take a barista class, buy an espresso machine. My Rocket machine paid for itself in 2 years ( including coffee, cost of the machine, plus energy) plus the environmental impact….probably 3 polar bears saved more or less.

@IMBLESSED-oe6dl 3 месяца назад

I went 99.9% off caffeine, my body feels so much better

@iftikharchoudhury6496 Год назад

Hi, really enjoying your videos. I have a question if you don't mind asking? Who's your mortgage lender and how did you manage to get a half repayment and half interest scheme?

@indrasena1783 Год назад

Great, You may include some donations to your expenses, that would be super great!.

@ShabsParadise Год назад

your videos are really inspiring, everything is to the point and I am binge-watching. I am reaching my 40s and i feel like I should have done proper investment long back.

@meeshello1 6 месяцев назад

Thanks for this illuminating video. It’s surprising for me to learn that in the US we pay much more for internet ($70/mo) mobile phone plans ($90/mo) and food ($250 per person is what I’ve been tracking for a year for me). I’m impressed that your cost of living in London is cheaper than life in the US capital, where I live. Talk about a cost of living crisis. 😢

@traveller2478 19 дней назад

Thanks for Financial Transparancy. Think Global... Act local. It is important...

@carolcarol1916 Год назад

Nisca you are a beautiful Accountant. So smart

@andyjackson2891 Год назад

Great video - for my kids' birthdays I've also always done "memories rather than material" Pay your mortgage down in the background as you have a really great place and super rate for now - for now! ;-) Uber for safety - absolutely.

@saxonraider2724 Год назад

wow when i was in Investment banking, the dealers would spend £600 a night on booze in expensive bars. Granted that's over 10 years ago now, I guess times have changed a bit.

@Yuliana-wm9id 5 месяцев назад

Impressive eating out in London ! In NYC or even NY suburbs $25 is minimum for 1 drink inclusive of tax and tip. If you go for a dinner and drinks, it’s $100-150 per person minimum at a nice place. so $300 budget buys 2 nice dinners in NY only. Amazing how London is more reasonable! Although salaries in London are somewhat comparable to NY, I believe it’s 10-15% less only on average.