What Salary Do You Need to Live Comfortably in London?

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London has gotten seriously expensive in recent years, and with the UK recently announcing that it is now in a recession, it begs the question of how much you need to make to live comfortably in the city.
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Timestamps:
0:00 - Intro
1:27 - Rent
2:45 - Utilities
3:02 - Council Tax
4:38 - Transport
6:05 - Groceries
7:25 - Healthcare
8:09 - Eating Out
9:13 - Drinks
9:37 - Gym Membership
9:57 - Entertainment
10:14 - Subscription Services
10:27 - Savings
11:09 - Income Tax
11:38 - Final Salary
11:55 - Evaluation & Rating

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Опубликовано:

26 июл 2024

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Комментарии : 75

@anythingbut... 4 дня назад

I actually live in London as a single person, you can call it in zone 2. I am lucky to own a flat and my mortgage is nowhere near the creazy rent prices now. You need MINIMUM 50k to live in London as a singleton in your own place if you have a mortgage (more if you pay rent). That's without any savings and vacations. You do not calculate for any expenses like personal care - toiletries and grooming, clothing, shoes, medical, lunch food, household items like laundry or cleaning products, odd electrical items purchase or small house decor, gifts for friends bdays, pet expenses (but the last one is luxury). Your estimate for month of food is very low - national averare for 2023 for one person is around £150 (inflation since then), in London is a bit more than that. 65k is closer to worry free.

@milananalim День назад

Hi! 65k is comfortable enough to travel around and do a bit of shopping/entertainment?

@user-nj2sv6rq7j 6 дней назад

brilliant, just one missing part - clothing ? we need something to cover ourselves up while running around taking buses

@pani777 2 дня назад

shoplifting mate

@user-nj2sv6rq7j 2 дня назад

@@pani777 yay - seems to be the only option

@jamessmithson-br7rm 2 дня назад

Living in Lambeth, Southwark or Lewisham is not living your best life 🙄😅

@tanvirshahriarrishad4904 22 часа назад

you deserve more exposure, man. Respect

@BeethanPlays 5 месяцев назад

Really good video! Very insightful

@Farol-ni4wh 5 месяцев назад

Thanks!

@harryhudson9821 5 месяцев назад

It's actually £85,000, 65 is just around broke..

@Jaa_morant 10 дней назад

Damn these premier league players earn that in a week..

@anthonyfaucy2761 День назад

You can live like a millionaire earning £85,000 in other areas of the UK. Honestly shocked people even want to stay there. London is a shithole full of pollution

@MelOBrien-12 9 дней назад

Great video! And very useful - comparison at the end of what you need to earn and what people are actually earning is wild. I’m in a situation where I’m potentially going to move back alone but honestly, the industry I’m in grossly underpays so I’m on the fence… especially as rent has shot up. (Had a one bed in Battersea for £1700pcm a few years back but it’s at least £2k+ now) Please do a video on Madrid next 🙂

@TheShlongman День назад

Didn’t include national insurance or student loan! Combined they add nearly another 10-20% marginal tax rate depending on total salary

@AdityaPillai009 2 месяца назад

Brilliant video!

@kragonstudio9442 3 дня назад

I like the content! Consider doing this for Luxembourg City!

@redabitar 5 дней назад

Great analysis!! I wish there was a clear breakdown in the end for both scenarios as a visualisation that keeps showing the makeup of the final budgets though

@teodorghiorghita9534 5 месяцев назад

It would have been a great video, if only was well documented. All the prices are as if the video was made at least 18 months ago, except maybe for groceries. I pay £1800 for rent, in zone 3, and that's just because I got a discount for staying in the same place for 7 years. The usual rent in my area is at around £2000, or even higher. Council tax is £120/pcm. The bills are over £300 in total. Heating alone this month is an eye-watering £116, electricity £79, phone £46 (for a sim-only plan), internet £35 (only because I changed the provider, Virgin was charging £64 last year for an internet-only plan). Then add water bill every once in a while, and the TV licence tax. Netflix was probably never £10.99, and now it is £17.99. I don't buy my groceries at M&S or Waitrose, and I still spend over £350 every month (for one person!). I think I've never been below £300, not even back in 2017. A pint almost anywhere in zone 1 annd 2 is well above £6, sometimes above £7. Only close to my place in zone 3 I had recently 2 pints at £5.85 a piece. And the whole calculation doesn't even take into account things like toiletries or clothing and footwear, not to mention that every once in a while you have to change a lightbulb, or you need to buy e.g. a new coffee machine. What about holidays, let's say once a year? My salary was until recently £65K, and I realised that I started to literally spend 100% of my income. That's why I decided that it's time to leave London, and go back home, where I can have a decent life for less than €2000 per month, which is totally something I can make.

@Farol-ni4wh 5 месяцев назад

Thank you for your comment Teodor. Most of the prices mentioned in the video are based on averages that I researched online back in January for a single person living alone. Just to clarify on a few of your points: - While rent might be that high in your area of zone 3, that's not the case for the boroughs that I mention in the video. I've found plenty of 1 bedroom flats going for £1,600 or even lower on Zoopla. - Like I said in the video, council tax is a tricky one as it varies from borough to borough and flat to flat but generally, single people pay between £100 and £150. - All utilities mentioned were based on averages from numbeo.com, including phone and internet. - There are 3 Netflix plans available at the moment. The one mentioned in the video is the standard plan (ideal for people living alone) and does cost £10.99. - As for groceries, this is another tricky one that depends on lifestyle, like how much you eat, what your diet is, whether you buy mostly frozen or mostly fresh. But it is doable for 1 person to spend £200 a month at M&S or Waitrose. - As for all the other things you mention like changing a lightbulb, getting a new coffee machine, going on holiday, etc would fall under the 20% savings section of the budget. I kept these kind of things in mind which is why I added it in. It sucks how expensive London has gotten in recent years and I don't blame you for wanting to leave! I understand that not everyone has the same needs or lifestyle which is why I discuss 2 different salaries in the video, so that people can decide for themselves where they would fall inbetween those 2 salaries. Again, I appreciate the feedback but just know that I tried my best in my research to get the most accurate numbers possible even though some people might end up spending more or less. 🙂

@wintersnowowen2254 4 месяца назад

I live in zone 2 and pay £1,600 for a 1 bedroom apartment in a complex with a concierge. Your rent for zone 3 is crazy.

@alis_volat 27 дней назад

@@wintersnowowen2254 Would you mind sharing the name of the area? Sounds like a very reasonable price, I might need to check for my next rent. Cheers!

@wintersnowowen2254 27 дней назад

@@alis_volat near Canada Water. Though rents are now around £1,800. I wouldn’t come to London unless I was earning £60,000+

@azp267 7 дней назад

@@wintersnowowen2254That's a crazy amount ! I'm at max 55k/year (depending of how much I decide to work freelance after my main job) and I live in zone 2 (Kentish Town), currently in a studio but just bought a 1 bed flat next Highbury&Islington (with terrace) and still put minimum £1000 in saving/month. People really need classes on how to manage their money.

@wintersnowowen2254 4 месяца назад

This is a good video. If you are looking to live a good and comfortable life in zone 2, you will definitely need about ~£4,000 a month net. You’ll be living a somewhat comfortable life but certainly not a luxurious life. The figures of ~£5,000+ aren’t attainable for most people given pension contributions and student loans.

@analieseheitkamp6269 Месяц назад

Great content! You should do Barcelona!

@Farol-ni4wh Месяц назад

Thanks! It's on my list to do at some point :)

@wulfsorenson8859 5 месяцев назад

Lmao I was paying £1560pcm for a one bed flat in Notting Hill prior to the lockdown. Same in Pimlico..The lockdowns made the rents go completely insane.

@MrDrepanon 12 дней назад

the lack of rent control sent the market insane

@BIG2hats День назад

@@MrDrepanonit’s not even a rent control issue, the interest rates shooting up meant most lamdlords aren’t actually losing money at the moment, even with the price increases

@anthonyfaucy2761 День назад

London is insanely expensive and has more similarities with expensive countries around the world like Dubia than nearby cities in UK like Manchester

@ganymede242 3 дня назад

I know a lot of professionals - lawyers, doctors, etc. who earn a 'good' wage in London. Most are in their 40s and live in student-style flatshares with three to six people sharing a front door. Having a place all to yourself is very tough. The idea of starting a family is almost laughable. You need two people working full time in intense jobs to pay for the basics, which means you need to find some kind of childcare. Childcare can cost more than rent/mortgage. It's a joke.

@mrash8856 День назад

thats horrible i was thinking to come to uk as a doctor but i guess i will have way better lifestyle in my country :(

@eastwest8151 7 дней назад

Imagine some RU-vidr thinks earning £90k can live your best life in London. It's even impossible for after-tax income. Come and take a look!

@johntee1614 5 дней назад

Great content. But can you make a video for the practical lower class of cost of living 30-45 minute tube commute outside central London.

@dejnetwork4003 6 дней назад

WTF is that Tax? 45% tax

@harryhazard719 2 дня назад

Great video, your only forgetting to add National insurance to the income tax. Also any student loan repayments

@francoispo1481 4 часа назад

2024 65k it is not enough at all due to inflaton, cost of living, rent and pound collapse ! 2008 46k gbp was good salary, rent was 700-800gbp 1 bed room zone2 and the pound was strong as well, etc.........

@rosskj9187 5 месяцев назад

It would be better to take an average food shop for a person rather than simple items which is unrealistic. £200 p/m food shop is very Conservative even for working class.

@BertanAtes-ov7uy 3 дня назад

Completely irrelevant but it's not borrow, it's burruh. Same as Edinburgh, it's not Edinbro, it's Edinbruh.

@naratoth 4 дня назад

You forgot about children. Add extra £15 000 a year per child as a minimum for childcare costs... two children £30 000!

@ArtjomsSivickis 9 дней назад

Recomending living in Lewisham, lol :)

@chilled99 7 дней назад

I didn’t for 2 years, it’s not great. Blackheath is nicer but ofcourse it’s expensive

@aerorythms День назад

Rather live in Kabul than Lewisham lol

@nick8002 6 дней назад

So if two people with mortgage of 1100 per month then how does it work? Both earning 55000 pounds each per year.

@Tradingsamurai1 9 дней назад

We are talking about London right? Not Baghdad..?

@encinho 9 дней назад

How about living just outside London?

@boluaygepong5920 4 дня назад

i think the London average is ~£45k. UK average is £35k 0:13

@pablonious4907 5 месяцев назад

I have a drinking problem would the budget apply to me aswell?

@kennumar 5 дней назад

We need an answer to this 😂

@anthonyfaucy2761 День назад

Yes. Its an average

@billykotsos4642 4 дня назад

10:08 Can’t just buy a ticket for a perimeter league game mate. Need to be a club member

@HarleyButler-ox3qn 13 дней назад

More restraints in London seem to have 0 star hygiene rating

@billykotsos4642 4 дня назад

65k is not enough. I need a car and I want to save up to buy at some point. I need 80-90k

@noorlancer 8 дней назад

Reed mentioned

@YRCHDVideos 5 дней назад

Now you need to consider those trying to raise a family on a single income

@issalj2661 День назад

£65,000 after tax?

@AthynVixen 12 дней назад

Ok who are you people who are going out to eat and drink that much in London? who can afford it!!

@HairByJamesAnnabel День назад

New York

@annaluca29 4 дня назад

Living in Zone 1 is far from ideal, more cramped and noisy and not enough green space in the residential areas - living near the royal parks is not realistic

@lucass9779 5 дней назад

Congestion charge is £15 a day

@Cjsingh91 5 дней назад

Average price of a beer at £5? You having a larf?!??😂

@xxg-forcexx8734 День назад

Lmao £5 for a pint? £3 for a coffee? Bro are you in newcastle? All these costs except rent are conservative even on the upper end bracket. Try timsing these figures by 1.2 and you have real costs

@noueruz-zaman7894 3 дня назад

I am a contractor who earns £500 a day so that is like around £134k a year (though 50% of the salary is slashed into tax) and I live outside London as I cannot do much savings if I live in London. That is the situation of London.

@danielipacs9166 5 часов назад

50% tax is tough

@itschansey 4 дня назад

I'd double everything in this video and then you're at a more accurate cost amount. Also idk why zone 3-4 are missed so much in these types of videos. They offer speedy routes into London but offer more depth and a more varied type of person. 100% true about houseshares and stuff tho, it drops ur cost SO MUCH. Zone 2 is nice, yes - but it's so gentrified to the point that it's almost dystopian and zone 1 is tourist/corpo central, you'd not wanna LIVE there. South is great, but north is also gorgeous and very very well connected - I would say more connected than south.

@hotshot8365 4 дня назад

Living your best life MUST include a car and associate costs, otherwise you are basically just stuck in that dump and any other major populated area you can get to on the train at the mercy of the train schedule. The biggest benefit of living in the uk is escaping into the countryside and exploring the historic and cultural sights.

@kx1music 10 дней назад

in my mind living your best life is 100k+ if not 150k+

@robbysimmons9901 7 дней назад

I make £100K i live in a bedroom in finsbury park 😂 moving to florida soon im outsie.... Tried to get a one bad flat everything started at £1,800 and by the end of bidding up your looking at £2,400. Even the prices online are just a vague starting point. So i would point you to £150K maybe! The taxes are wild 😅😂.